Insights

On 27th July, 2020, the HM Treasury Office of Financial Sanctions Implementation, the body responsible for the implementation and enforcement of financial sanctions in the UK, published a "Maritime Guidance" document. Follow the link above to find out more.  

The US Second Circuit has held that discovery statute §1782 is not available in aid of private international arbitrations. Other US Circuits have taken a different view.

On 14th July, 2020, President Trump signed the Hong Kong Autonomy Act (the “HKAA”) and, simultaneously, an Executive Order implementing the HKAA and revoking Hong Kong’s preferential trade status. As a result of these steps, Hong Kong will now be treated the same as mainland China for the purposes of, among other things, export controls and tariffs and various sanctions will be imposed on certain foreign individuals and entities whose identities are to be confirmed.

On 24th June 2020, OFAC added five Iranian tanker captains to the Specially Designated Nationals (SDN) list, for delivering approximately 1.5 million barrels of Iranian gasoline to Venezuela.

As governments world-wide have grappled with the COVID-19 pandemic, implemented travel restrictions and increased border controls to insulate themselves from the risk of imported transmissions, the human cost to the shipping industry has been and remains significant.   BIMCO has recently developed a clause for time charterparties which attempts to address some of the problems that have been encountered.