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US revokes sanctions relief for Iranian oil trade following Strait of Hormuz attacks

US revokes sanctions relief for Iranian oil trade following Strait of Hormuz attacks

As explained in our earlier article, on 21st June, 2026, the US Office of Foreign Assets Control (“OFAC”) issued General License X (“GLX”), described as “Authorizing the Production, Delivery and Sale…

Diverging approaches to Iranian sanctions as the US grants limited relief, while UK and EU measures remain in place

Diverging approaches to Iranian sanctions as the US grants limited relief, while UK and EU measures remain in place

Important update: this article has been superseded by subsequent developments. This article should be read together with our update of 8th July, 2026, regarding General License X1, which has revoked…

Commercial Court clarifies meaning of “Banking Days” and timing of payment obligations in ship sale contracts

Commercial Court clarifies meaning of “Banking Days” and timing of payment obligations in ship sale contracts

On 23rd June, 2026, the Commercial Court handed down judgment in Songa Product and Chemical Tankers IV AS v Gardsea Shipping Inc [2026] EWHC 1559 (Comm), providing important guidance on (i) how…

Solvency and Financial Condition Report, 2026 - The United Kingdom Freight Demurrage and Defence Insurance (Europe) Limited

Solvency and Financial Condition Report, 2026 - The United Kingdom Freight Demurrage and Defence Insurance (Europe) Limited

Solvency and Financial Condition Report, 2026 - The United Kingdom Freight Demurrage and Defence Association Limited

Solvency and Financial Condition Report, 2026 - The United Kingdom Freight Demurrage and Defence Association Limited

UKDIA EGM - June, 2026

UKDIA EGM - June, 2026

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What is the threshold to invoke a sanctions clause and refuse orders? The Court of Appeal provides clarity in ‘’The Catalan Sea’’

What is the threshold to invoke a sanctions clause and refuse orders? The Court of Appeal provides clarity in ‘’The Catalan Sea’’

The Court of Appeal has delivered an important judgment on sanctions clauses in voyage charterparties in Tonzip Maritime (Singapore) Pte Ltd v 2 Rivers Pte Ltd (“The Catalan Sea”) [2026] EWCA Civ…

Sanctions against Russia: UK introduces new Russian sanctions with key carve outs in respect of Russian oil refined in third countries and the maritime transport of LNG

Sanctions against Russia: UK introduces new Russian sanctions with key carve outs in respect of Russian oil refined in third countries and the maritime transport of LNG

On 19th May, 2026, the UK government introduced new trade and transport Russian sanctions, as well as two general trade licences providing for certain exemptions to the new measures. The licences…

THE SEBAT: Commercial Court Clarifies Commencement of Laytime Following Invalid NOR

THE SEBAT: Commercial Court Clarifies Commencement of Laytime Following Invalid NOR

In the recent decision of Trans Trade RK SA v Sebat Shipping and Trading Company [2026] EWHC 950 (Comm) (“The Sebat”), the Commercial Court considered, in the context of an appeal of an arbitration…