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With sanctions imposed on Russian interests by the EU, UK, US and others, it is crucial that shipowners and operators check their counterparts and contracts immediately. The situation is currently changing rapidly, and more sanctions announcements could be on the way.
With sanctions imposed on Russian interests by the EU, UK, US and others, it is crucial that shipowners and operators check their counterparts and contracts immediately. The situation is currently changing rapidly, and more sanctions announcements could be on the way.
Russia appears to have launched a full-scale invasion of Ukraine and maritime security will likely be affected.
The 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.