Introducing GAFTA’s Prevention of Shipment Clause

Traditionally, Grain and Feed Trade Association (GAFTA) contracts have dealt with force majeure and prohibition by means of separate and distinct clauses. GAFTA recently significantly altered this long-standing approach, and its standard form contracts entered into as from 1 June 2014 instead utilise a single consolidated clause, unifying the prior provisions on force majeure and prohibition.

Carriage of Goods, Contracts, Practice and Policy

Repatriation and financial security for seafarers: amendments to Maritime Labour Convention

Every so often, an obvious problem is actually spotted and remedied by those who have the power to do so, rather than lingering on indefinitely while everyone knows precisely what needs to be done. The International Labour Organization (ILO) has adopted amendments to the Regulations implementing the Maritime Labour Convention, seeking to remedy some gaps left in the law by the original text.

Shipping, Practice and Policy

First Turkish limitation fund court decision: intent or no intent?

Turkey’s legal practice has improved considerably in recent times. The new Turkish Commercial Code, No 6102 (TCC) was enacted and came into force on 1 July 2012. Up to that point, Turkish judicial practice had been struggling with the application of international conventions due to some poor interpretations and a lack of profound and precise legal construction.

Liability, Regulation

Insurance law reform and marine insurance

On 17 and 29 July 2014 the Insurance Bill, over which the Law Commission of England and Wales has laboured since 2006, had its first and second readings in the House of Lords. The intention is that it should undergo a special speeded-up procedure and be enacted by March 2015. Although entry into force is likely to be at least a year later, an early decision is necessary if the Act is to enter into force within our lifetimes.

Insurance, Regulation

Nairobi Wreck Removal Convention to enter into force

After 46 years of negotiations within the International Maritime Organization (IMO), and with the Nairobi International Convention on the Removal of Wrecks, agreed in Nairobi in 2007, entering into force on 14 April 2015, the issue of wreck removal will finally become regulated at an international level.

Pollution & Salvage, Regulation

Alternative Power Solution Ltd v Central Electricity Board and Another [2014] UKPC 31

Documentary credits – Fraud exception – Injunction – Balance of convenience

Contracts, Finance and Banking

Law Commissions’ reform proposals on marine and commercial insurance – “yay” or “nay”?

In April 2013, a symposium organised by the Institute of International Shipping and Trade Law, Swansea University, on the recent Law Commissions’ reform proposals on business insurance, shed some light on the views of the main stakeholders in the market, and what direction the Law Commissions are likely to take.

Commercial, Insurance, Regulation

Viscous Global Investment Ltd v Palladium Navigation Corporation (The "Quest") [2014] EWHC 2654 (Comm)

Bills of lading containing or referring to arbitration clause – P&I Club letter of undertaking containing alternative jurisdiction clause

Trade, Bills of Lading, Practice and Policy, Jurisdiction

Sun United Maritime Ltd v Kasteli Marine Inc (The “Imme”) [2014] EWHC 1476 (Comm)

Arbitration Act 1996, section 67 – Scope – Challenging an arbitral award for lack of substantive jurisdiction – Disputed settlement on costs.

Arbitration

Assuranceforeningen Gard Gjensidig v The International Oil Pollution Compensation Fund [2014] EWHC 1394 (Comm)

Oil pollution – P&I Club – International Oil Pollution Convention Fund – Freezing injunction – Fund’s immunity from freezing injunction

Pollution & Salvage, Regulation