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Shipmanagers' Letter of Undertaking

28 January 2019

The Shipmanagers’ Letter of Undertaking (LoU) is a model letter for use in third party arrangements where shipmanagers maintain and operate the vessel but have no financial involvement or interest in its ownership. The content of the LoU is based on provisions commonly found in market documentation but creates a more equitable starting point for discussions. The BIMCO LoU aims to eliminate the need for often protracted party negotiations where points argued in previous cases are frequently repeated, which can be time-consuming and adds to costs. Copyright in Shipmanagers’ Letter of Undertaking is held by BIMCO.

George Leloudas

01 July 2019

Dr George Leloudas is an Associate Professor at the Institute of International Shipping and Trade Law (IISTL) of Swansea University that he joined in 2011. He is a graduate of the National and Kapodistrian University of Athens. He holds LLM degrees from the University of Bristol (England, 2002) and McGill University (Montreal, Canada, 2003). He also completed his PhD degree at Trinity Hall, Cambridge University in 2009 and worked in practice as a solicitor in London prior to joining to the IISTL.   George has most recently published his second monograph together with Professor Malcolm Clarke of Cambridge University on cargo Insurance. Also, in 2018 he published (with Prof Baris Soyer) an article on the carriage of passengers by sea in Michigan State University International Law Review and an article on IUU fishing (with Prof. Baris Soyer and Dr Dana Miller) in Transnational Environmental Law. He teaches marine insurance law, carriage of goods by sea, land and air and arbitration law and he is also one of the editors of the preeminent transport law publication, Shawcross and Beaumont, being responsible for the (passenger and cargo) liability chapters of the publication

Macro Economics - Recent die-hard optimism is being shadowed by dark clouds partly created by political problems. Key figures are falling short of expectations, but the direction is alright

13 June 2012

The recent optimism has fortunately not completely evaporated following the latest series of less positive economic indicators from across the globe, including India, the US, Brazil and Spain. The EU debt situation creates a lot of uncertainty, not only as regards economic development but also regarding the political situation on both sides of the Atlantic Basin.

Macro Economics - A cautiously optimistic outlook supports the road towards higher growth and reinstates stronger business confidence

11 April 2012

The global economy is getting better. The dark clouds that were piling up towards the end of 2011 have now spread, as brisk winds of change are beginning to restore optimism. However, the economic crisis is still not over and many tough political decisions have to be made before we can stand on top of a sustainable recovery. Three factors give us reason to believe things are getting better: