In a recent expedited judgment in Mamancochet Mining Ltd v Aegis Managing Agency Ltd & Others  EWHC 2643 (Comm) Mr Justice Teare provided guidance on the correct interpretation of a standard sanctions clause contained in a marine cargo insurance policy following a loss of cargo shipped to Iran in 2012.
There has recently been a significant increase in bunker quality related engine problems following the delivery of fuel supplied in the US Gulf region, particularly in the Houston area.
Cross-undertakings are routinely required for freezing injunctions. This however, is not the case for arrest of ships. Admiralty Court practice has been not to require such undertakings. In a recent case of the ALKYON, the English High Court was asked to review its existing practice.
The Singapore Court of Appeal recently confirmed that liens over sub-freights are to be regarded as registrable charges under Singapore’s Companies Act. This means that failure to register a lien means it will be void against the liquidator and any creditor of the company which granted the lien.
This article highlights some of the charterparty difficulties and implications for Members arising out of the recent announcement regarding “snap back” of US extra-territorial sanctions on Iran.