Shipping Offshore Update December 2014
International trade is a key part of the shipping industry, and this issue covers the very practical challenges related to the sanctions against Russia. Given that these sanctions now extend to commercial activities they can be a trap for the unwary.
On the topic of sale and purchase of vessels we cover the recent Court of Appeal case where it was found that, upon failure of the buyers to pay the deposit to the sellers within the stipulated timeframe pursuant to the Norwegian Saleform 1993, the sellers were entitled to claim the full amount of the deposit in damages irrespective of their actual loss.
You will also find articles on ship arrest in China, the use of mutual hold harmless deeds in the North Sea, and an account of a recent Norwegian Supreme Court decision on the issue of time bar of maritime liens. We also revisit the interesting energy reform in Mexico.