Insights

The explosions that occurred late in the evening of 12th August, 2015 in warehouses at the port of Tianjin have resulted in significant loss of life, damage to property and suspension of shipping and port movements. The following briefing is intended to provide initial advice to assist Members who may be intending to load or discharge at Tianjin.

In a 2013 judgment Mr. Justice Flaux suggested that a failure to make punctual payment of hire could be breach of a condition (Kuwait Rocks Co v AMN Bulkcarriers Inc. [2013] EWHC 865 (Comm.) (the “ASTRA”)). That case created a great deal of debate as the judge’s comments seemed to be contrary to the generally held view that the obligation to pay hire punctually under a time charter was to be considered as an innominate term.

The recent spate of large numbers of refugees crossing the Mediterranean sea from North Africa to the European mainland has drawn into sharp focus the issue of saving life at sea.

Maritime lien insurance & Charterer’s and bunker supplier’s insolvency insurance: Two additional covers are now available to Members of the Club. One cover relates to Maritime lien insurance and the other concerns charterer’s and bunker supplier’s insolvency. The covers operate as direct covers between the underwriters (Lloyds) and the Member and the cost is met by the Member concerned. Claims are handled by the Managers subject to the Club’s standard Rules although final settlement of the underlying claims will require the market underwriters’ approval.

Yemen: Charterparty considerations: The deterioration of the situation in Aden province, gives rise to potential charterparty issues in relation to the prospective safety of the Port of Aden.