Insights

As the COVID-19 pandemic continues to affect global trade, this briefing considers the particular issues facing parties to shipbuilding contracts. The disruption caused by COVID-19 is being felt harshly by some shipbuilders and buyers, as yards struggle to maintain their significant workforce and encounter difficulties in securing materials.

造船与新冠病毒疫情 由于新冠病毒疫情持续影响全球贸易，谨以本短文探讨造船合同双方面临的一些具体问题。 一些船舶建造商和买家正在切身体会新冠病毒疫情造成的中断问题，船厂在保证劳动力、保障物资供应方面，面临重重困难。

Concerns that wash water discharged from open loop scrubbers may have harmful effects on local waters has led to many ports banning ships fitted with open-loop scrubbers or impose additional requirements relating to the discharge of wash water from such systems. 

On 21st April, 2020, OFAC renewed and re-issued General Licence 8, now General Licence 8F. The amended General Licence is a clear escalation of the US sanctions targeting Venezuela, and may be indicative of an increased focus by the US on its Venezuelan sanctions policy. Read more...

Reports of financial difficulties facing one of the biggest players in the Singapore bunkering market, Hin Leong Trading (Pte.) Ltd. give rise to concern within the industry. Hin Leong’s bunker arm, Ocean Bunkering Services (Pte.) Ltd. (OBS), was ranked the third-largest shipping fuel supplier in Singapore last year. It is understood that OBS has informed its customers that it plans to suspend marine fuel deliveries, after banks failed to provide a letter of credit to buy cargoes.