News

Morten Lund Mathisen

New Lloyd’s Open Form 2024

16/12/2024

WRECKSTAGE 2024 – new industry standard wreck removal agreement

On 4 June 2024 BIMCO released a new version of WRECKSTAGE, which has long been the industry standard agreement for maritime wreck removal projects where the contractor is remunerated on a lump sum basis. Several changes have been made to this new version, the most important being a new optional risk allocation procedure, which is intended to give greater certainty in the allocation of risks. The result is an improved form which will no doubt be warmly welcomed by the industry.

11/06/2024

New Lloyd's Open Form 2024

Lloyd's Salvage Arbitration Branch has released a new Lloyd's Open Form of Salvage Agreement ("LOF 2024"), as well as a new Lloyd’s Salvage Arbitration Clause ("LSAC 2024").

04/06/2024

WRECKSTAGE 2024 – new industry standard wreck removal agreement

Yesterday, BIMCO released a new version of WRECKSTAGE, which has long been the industry standard agreement for maritime wreck removal projects where the contractor is remunerated on a lump sum basis. Several changes have been made, the most important being a new optional risk allocation procedure, often referred to as QRA (quantitative risk assessment), which is intended to give greater certainty in the allocation of risks. The result is an improved form which will be warmly welcomed by the industry.

10/07/2022

Progress towards a treaty on plastic pollution

In March of this year, the United Nations passed an historic resolution which may result in a legally binding treaty to combat plastic pollution in the oceans.

10/07/2022

Report on the safety of cruise traffic in Norwegian waters

In the spring of 2019, the cruise vessel “Viking Sky” suffered engine failure and almost grounded. Nearly three years later, a Norwegian Official Report (NOU 2022: 1) on how to reduce the risk of casualties within the cruise sector has been published.

09/12/2020

“Full City” – 5 key takeaways from the limitation fund proceedings

In November 2020, the limitation fund established following the grounding of the “Full City” near Langesund, Norway, in 2009 was finally distributed. The limitation fund proceedings, which ran in parallel with the proceedings concerning the limitation fund established following the “Server” casualty in 2007, have helped clarify several procedural aspects of limitation funds.

30/05/2019

Norway prepares for ratification of the Nairobi Wreck Removal Convention

The Norwegian Parliament has recently decided that Norway shall ratify the Nairobi Wreck Removal Convention and that the Convention shall be given effect not only in Norway's exclusive economic zone, but also in its territorial waters. The Norwegian Parliament has also adopted legislation to implement the Wreck Removal Convention into Norwegian law once ratified.