Insights

Following a review by the BIMCO sanctions sub-committee, BIMCO has released new sanctions clauses for both time and voyage charters. The new clauses have replaced the existing BIMCO sanctions and designated entities clauses, and they are designed to create more contractual certainty for the parties in an increasingly complex sanctions landscape. Click to read more...

Following our update on 13th December, 2019, Members are advised that OFAC has now (as of 18th December, 2019) de-listed Ventspills Freeport Authority, following the Latvian government’s removal of the port from the...

Ventspils Freeport Authority has been added to OFAC’s SDN list, in conjunction with sanctions imposed on Mr Aivars Lembergs...

As 1st January, 2020 looms large, with less than a month to go, many operators have started to use low sulphur fuels and, in line with industry predictions, issues are already being experienced in relation to the measurement of sulphur levels. In particular, it appears that purported “low sulphur” bunkers are regularly being found to be above the required 0.50% limit and discrepancies between test results for the same bunkers are being noted.

Enhanced sanctions have been imposed against IRSL and E-Sail as part of the US’s action against Iranian entities linked to the proliferation of weapons of mass destruction...