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War in Ukraine will hurt growth in all shipping segments
07 March 2022Though much uncertainty remains, the immediate commodity price increases and supply challenges caused by Russia’s invasion of Ukraine are likely to be felt throughout 2022. Also, recently implemented sanctions on Russia are not likely to be lifted any time soon. This may have sustained spill-over impact on the global economy.
Sanctions Clause for Container Vessel Time Charter Parties 2021
03 March 2022The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.
War Risks Clause for Time Chartering 2013 (CONWARTIME 2013)
02 February 2023War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013)
02 February 2023Sanctions Clause for Contracts of Affreightment (GENCOA) 2022
03 February 2023The sanctions landscape has grown increasingly complex. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in contracts of affreightment are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes.
