Insights

Dire Straits? Charterparty implications of the recent attacks in the Gulf. The recent spate of attacks on tankers in the Straits of Hormuz has brought into stark relief the risks faced by shipowners...

As the clock counts down ever closer to 2020, when ships will need to comply with the reduced bunker sulphur content cap of 0.5%, Members are advised to give careful thought to their charterparty provisions with a view to minimising scope for contractual disputes.

Hong Kong and China have entered into a new mutual agreement whereby parties engaged in arbitration in one jurisdiction may take steps to preserve assets of their counterpart in the other jurisdiction by way of interim relief. This is likely to provide litigants with a useful additional method of securing assets in advance of an award.

As cyber crime is becoming an ever more prevalent risk for the shipping industry, BIMCO have published a Cyber Security Clause for use in charterparties and other contracts. The clause has been drafted in general terms so that it can easily be adopted into any contract and also, for instance, in a chain of charterparties to ensure that the various parties’ obligations are back to back.

The SUPPLYTIME 2017 form has been considered by the English courts for the first time since its publication. The case of Boskalis Offshore Marine Contracting BV v Atlantic Marine and Aviation LLP1 [2019] EWHC 1213 (Comm), related to the construction of the payment obligations under the SUPPLYTIME 2017, though the judgment could be relevant to similar payment provisions in other contracts.