Archive

The new Arbitration Act 2025 (“the Act”) will come into force in full on 1 August 2025, introducing key reforms to the arbitration framework in England, Wales and Northern Ireland. It modernises the Arbitration Act 1996, enhancing clarity and reinforcing the UK’s status as a global arbitration hub. Key reforms under the Act Largely based on the Law Commission’s 2023 recommendations, the Act aims to solidify London’s competitive […]

What are damages and how are they calculated? This article considers the relevant principles under English law and looks at key shipping issues and case law. What are damages? Damages are the monetary compensation awarded to the innocent party following a breach of contract by the other party. In contract, the aim of damages is to put the innocent party in the position they would […]

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 […]

In the 2024/25 marketing season, which ended on June 30, 2025, Ukraine exported 46.7 million tons of grains and oilseeds, which is significantly lower than the previous season (57.5 million tons of grains and oilseeds). As previously noted, this decrease is explained by smaller carryover stocks from the previous season, as well as a slightly lower harvest. According to UGA estimates, the production of grains […]

Russian attacks on Ukrainian ports have killed over 30 workers and caused billions of dollars in damage, yet most terminals remain operational. Edgar Martin of Infospectrum, part of Lloyd’s List Intelligence, provides a brief summary and background of the Ukrainian shipping sector in wartime. THE full-scale Russian invasion of Ukraine in February 2022 has radically altered Ukrainian shipping. War has rerouted its trade flows, but […]

OFSI’s new series, ‘Financial Sanctions: The Basics’, highlights 6 key areas in OFSI and financial sanctions more generally. The first video in OFSI’s ‘Financial Sanctions: The Basics’ series provides detail on the work carried out at OFSI and how financial sanctions work more generally. The second video in OFSI’s ‘Financial Sanctions: The Basics’ series provides an insight into the range of guidance that OFSI produces […]

The failure to address the environmental issues could turn into a vicious circle in which the falling Caspian Sea level starts to jeopardize the operations of the fossil fuel and shipping industries. Concern has been growing in recent years over the steadily declining level of the Caspian Sea, the world’s largest inland body of water. The water level dropped by about two meters from 2006 to 2024, […]

The EU’s Emissions Trading System (EU ETS) is being expanded to cover shipping. But what does this involve and what does it mean for the maritime sector? What is the EU’s Emissions Trading System (EU ETS)?The European Union’s Emissions Trading System (EU ETS) is one of the main tools with which the EU hopes to combat global heating and reduce greenhouse gas (GHG) emissions cost […]