Archive

Updates for vessels calling into Turkiye in 2026. 7 January 2026 Correspondent Ulgener brings us this update on the new rates for pollution fines. Read the online circular here. 2 December 2025 Following the increase in pollution fines in Turkiye for 2026, Correspondent Omur Marine brings us this update on new minimum limits for coastal facility pollution insurance. On the date of 25.11.2025, a Communiqué amending […]

Summary The “Happy Aras” (the “Vessel”) was on a laden voyage from Reni, Ukraine to Mersin, Turkey when she grounded off Turkey. The Vessel was seriously damaged, and Owners declared general average.  Cargo Insurers, who had issued general average security on Cargo Interests’ behalf, refused to pay a USD1.2m general average contribution to Owners, alleging that  the grounding was caused by Owners’ actionable fault in […]

The term ‘breach of contract’ is commonly heard within a business context and occurs when one party fails to fulfil some or all of its contractual obligations. But what is a ‘repudiatory breach’ of contract? In short, a repudiatory breach is a serious breach of contract by one party which goes to the root of the contract, depriving the innocent party of the whole benefit […]

The Chartered Institute of Arbitrators (CIArb) recently published its new “Guideline on Third-Party Funding in Arbitration” (Guidelines), which are designed to provide some clarity as to best practice in respect of the growing use of third-party funding in international arbitration. What is third party funding? For those unfamiliar with the concept, third-party funding (TPF) in international arbitration is where claimants’ arbitrations are funded by a […]

The IUMI Stats Report 2025 is an analysis of the global marine insurance market for 2024. This annual document reports on the state of the marine insurance sector within the framework of the global economy, trade and shipping. Data is gathered from a number of agencies including IUMI’s own sources and is analysed and presented with some additional commentary. Highlights from this year’s report includes: […]