Insights

Welcome clarity on an owner’s unfettered entitlement to freight has been received in a judgment handed down recently by the Commercial Court. The decision overturned a finding in London arbitration and will be welcome news to owners seeking security for their claims. Podcast also available.

On 1st June, 2021, OFAC issued General Licence 8H, through which it authorises certain companies to transact with Petróleos de Venezuela, S.A. (PdVSA) until 1st December, 2021.

Two recent Commercial Court judgments have considered the implication of contractual terms, with notably differing outcomes.  The question of whether or not a term can be implied into a contract often gives rise to dispute, so we welcome this opportunity to consider the principles relating to implied terms in the context of these two recent examples. Podcast also available.

The recent Commercial Court decision in Navision Shipping A/S v. Precious Pearls Ltd and Conti Lines Shipping NV v. Navision Shipping A/S (m.v. Mookda Naree) [2021] EWHC 558 (Comm) tackles issues relating to off-hire during a period of arrest. The judgment demonstrates how a minor difference in the wording of an arrest clause can have a significant impact on the hire position. Podcast also available.

The London Maritime Arbitrators Association (“LMAA”) has recently updated its terms of procedure. The new terms came into effect on 1st May, 2021 and apply to arbitrations started on or after that date. Podcast also available.