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A Notice of Readiness (“NOR”) is an important document, under a voyage charter it represents the delivery of the vessel into the charter service and will likely play an important role in the commencement of laytime. Disputes relating to laytime, including the validity of the Notice of Readiness, are common and the below is intended to be a short summary of the main principles relating […]

Greek-owned oil tankers are likely to continue to carry Russian oil exports, despite the passage of a new eighteenth sanctions package last week that largely targets Russia’s oil exports. The main sanction in the new package introduces a floating rate oil price sanctions cap of 15% below market rates for the Urals blend, Russia’s main export product oil. Previously, the cap was a fixed $60, but after prices fell […]

As the war in Ukraine grinds on, the Black Sea is emerging as the key theatre in Europe’s long-term security contest with Russia, according to political analyst Dimitar Bechev of the Carnegie Endowment for International Peace. “The balance of power in the Black Sea has shifted to Moscow’s disadvantage. Russia no longer enjoys the dominance it had after it seized Crimea in 2014,” Bechev wrote […]