In a recent decision, the Norwegian Supreme Court refused to hear an appeal from a Norwegian shipowner over the Court of Appeal’s decision, which upheld the District Court’s conviction and sentencing of the shipowner to six months in prison for participating in an attempt to illegally export the barge carrier “Harrier” from Norway for demolition at Gadani, Pakistan.
Mainland China has become the largest offshore wind market in the world. An overall industry chain has been established which encompasses complete offshore wind installation and operation, as well as maintenance and spare parts manufacturing, presenting an attractive market for both domestic and foreign companies.
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.
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.
New technology in aquaculture is enabling offshore farming and the increased use of closed cages. New regulations may trigger significant investments in the years to come, resulting in an increased demand for new building and supply services.
Refund Guarantees secure repayment to the buyer of the pre-delivery instalments paid under a shipbuilding contract (an “SBC”) in the event of termination of the SBC due to builder’s default or insolvency or the total loss of the ship under construction. Having the benefit of a refund guarantee is therefore of key importance to the buyer under a shipbuilding contract.
On 21 April 2022 BIMCO released SHIPSALE 22, its new standard contract for sale/purchase of vessels.
The sweeping sanctions implemented against Russia give renewed relevance to the Chinese countermeasures to foreign companies with operations in China or doing business with Chinese counterparties. Companies should tread carefully to avoid falling foul of Chinese legislation.
The outbreak of war can have serious consequences on charterparties of all kinds and it is therefore no surprise that the industry has developed several standard clauses to clarify the parties’ obligations in such uncertain times.
The invasion of Ukraine by Russia has caused untold human suffering, severe disruption to global trade and property damage. It has also led parties to closely examine contracts with a Russian connection to see if they can be suspended or terminated lawfully.
