Otis and Ocean Carriers in the U.S. Presentation

Total Page:16

File Type:pdf, Size:1020Kb

Otis and Ocean Carriers in the U.S. Presentation OTIs and Ocean Carriers in the U.S.: Impact of Importers Filing for Bankruptcy Presentation by Benjamin F. Mann & Carlos Rodriguez © Husch Blackwell LLP With You Today Carlos Rodriguez Benjamin F. Mann [email protected] [email protected] 202.378.2365 816.983.8126 © 2014 Husch Blackwell LLP. All rights reserved. Lenders’ Lien in Goods . Only one source ̶ Consensual lien granted in security agreement ̶ Governed by UCC Article 9 © 2014 Husch Blackwell LLP. All rights reserved. 3 Marine Carriers (including NVOCCs) . Multiple sources ̶ Common law maritime lien ̶ Statutory Carrier’s lien ̶ Consensual lien © 2014 Husch Blackwell LLP. All rights reserved. 4 Common Law Maritime Lien . Arises from English common law . Now part of federal admiralty common law . “Maritime” describes variety liens ̶ Lien on ship for repairs, food, provisions, injuries ̶ Lien on funds generated by use of ship – “freights” ̶ Lien on goods by Carrier ̶ Can be asserted by NVOCC as well as physical transporter. See Logistics Management, Inc. v. One Pyramid Test Arena, 86 F.3d 908, 914 (9th Cir. 1996) . Scope of maritime Carrier’s lien ̶ On goods in possession of Carrier for costs to ship those goods only ̶ Arises automatically by operation of law ̶ Terminates upon surrender of possession See The Bird of Paradise, 72 U.S. 545, 555 (1866) But, parties can agree to extend lien to survive surrender of possession into warehouse, dock or th other third-party. See Arochem Corp. v. Wilomi, Inc., 962 F2d 496, 500 (5 Cir. 1992). © 2014 Husch Blackwell LLP. All rights reserved. 5 Statutory Carrier’s Lien . Source: UCC 7-307 . Applicability: Any Carrier who issues bills of lading so applies to land, air and sea Carriers . Scope: ̶ on goods in possession of Carrier for costs to ship those goods only ̶ arises automatically by operation of law ̶ terminates upon surrender of possession © 2014 Husch Blackwell LLP. All rights reserved. 6 Consensual Lien Must be in writing agreed to by the customer . Sufficient credit application signed by the customer See In re Colortran, Inc., 218 B.R. 507, 509 (9th Cir. BAP, 1997) . Not sufficient invoice issued by Carrier but not signed by the customer See In re CFLC, Inc., 209 B.R. 508, 515-16 (9th Cir. BAP, 1997) . Maybe sufficient bills of lading issued pursuant to tariff agreed to by the customer See Capital Transportation, Inc. v. United States, 612 F.2d 1312, 1325 (1st Cir. 1979) . Governing law consensual lien is not governed by maritime law but by state UCC law See In re Colortran, Inc., 218 B.R. 507 (5th Cir. BAP, 1997); Maersk-Sealand v. Eurocargo Express LLC, 2004 WL 1950372 (C. D. Calif. 2004); Paul Harris Stores, Inc. v. Expeditors Int’l of Washington, Inc., 342 B.R. 290 (Bankr. S.D. Ind. 2006) © 2014 Husch Blackwell LLP. All rights reserved. 7 Perfection of Consensual Lien . Filing UCC-1 – lien can extend to all goods of customer . Possession – lien can only extend to goods in possession of Carrier © 2014 Husch Blackwell LLP. All rights reserved. 8 Priority of Competing Liens . Maritime lien primes Lender’s security interest as to: ̶ Goods in Carrier’s possession for costs to ship those goods only UCC 9-333 provides that Article 9 security interests are subordinate to statutory liens which arise by operation of law based on possession of the goods and “secure payment on performance of an obligation for services or materials furnished with respect to the goods by a person in the ordinary course of business.” (emphasis added). Similarly, statutory Carrier’s lien primes Lender’s security interest pursuant to UCC 9-333. © 2014 Husch Blackwell LLP. All rights reserved. 9 Priority of Competing Liens (cont’d.) . Carrier’s consensual lien can be written to grant Carrier’s lien in all goods of customer for any and all shipping charges not paid but method of perfection may affect priority . Perfection by possession by Carrier occurs when Carrier takes possession whereas perfection by Lender occurs when the UCC-1 is filed and Debtor obtains rights in collateral . UCC 9-322 govern priority of conflicting liens in the same collateral ̶ Priority goes to party who was first to file or perfect ̶ Competing liens may arise at same time but Lender’s lien is filed before Carrier’s lien is perfected by possession ̶ If Lender and Carrier both file UCC-1’s, then party who files first has priority ̶ Whether Lender is Lender to consignor or consignee may impact priority of carrier’s lien. © 2014 Husch Blackwell LLP. All rights reserved. 10 Priority of Competing Liens (cont’d.) Effort to create consensual Carrier’s lien that is entitled to priority of Carrier’s maritime lien has been rejected by the only two courts to address issue In re World Imports Ltd., Inc., 2013 WL 4200810 (Bkcy. E. D. Pa. 2013) In re Guildmaster, Inc., (unreported) Case No. 13-06008 (Bkcy. W. D. Mo. 2013) . Possibility exists if language in credit application expressly states that general lien on goods in possession of Carrier for all charges for current and past shipments is governed by federal maritime common law ̶ Maritime lien can be expanded by agreement to cover prior shipments See Eagle Maritime Transport Co. v. A Cargo of Hardwood Chips, 1998 WL 382141 (E. D. La. 1998) ̶ Cases involving non-Carrier maritime liens hold that maritime lien trumps UCC Article 9 lien See Walsh v. Placedo Shipping Corp., 789 F.2d 1406 (9th Cir. 1986); Cornish Shipping Ltd. v. Int’l Nederlanden Bank, 53 F.3d 499 (2nd Cir. 1995); In re Muma Services, 322 B.R. 541 (Bankr. D. Del. 2005) © 2014 Husch Blackwell LLP. All rights reserved. 11 Bankruptcy of Importer/Exporter Carrier holding goods when customer files for bankruptcy should NOT surrender goods ̶ If does so, possessory lien is lost ̶ Instead file motion with court to require Debtor to satisfy possessory lien (i.e., pay the bill) or provide substitute lien on assets in possession of Debtor (i.e., lien continues per court order in surrendered assets and other assets of Debtor) Carrier who has been paid in past 90 days on prior shipments may be subject to recovery of payments as preference under § 547 of Bankruptcy Code ̶ Ordinary course of business defense and subsequent new value defense may apply Carrier acting as customs broker or freight forwarder may also have preference exposure ̶ If payments made to broker/forwarder are then paid to Government (for customs) or Carrier (freight bill), “mere conduit” defense may be asserted, but not if importer is reimbursing for payments already made © 2014 Husch Blackwell LLP. All rights reserved. 12 Claims Priority for Custom Duties Good News – custom duties share same claims priority as federal taxes under § 507 of the Bankruptcy Code Bad News – broker who pays customer duties for customer and seeks reimbursement from customer is expressly not subrogated to the claims priority See § 507(d); In re Chalk Line Mfg., Inc., 181 B.R. 605 (Bkcy. N. D. Ala. 1995) © 2014 Husch Blackwell LLP. All rights reserved. 13 Next Steps: . Check your credit application provisions to insure you have language that creates a valid consensual lien. Review your customers and determine whether, when and where to perfect your consensual lien with a UCC-1 filing. © 2014 Husch Blackwell LLP. All rights reserved. 14 THANK YOU Benjamin F. Mann [email protected] 816.983.8126 Carlos Rodriguez [email protected] 202.378.2365 © 2014 Husch Blackwell LLP. All rights reserved. 15 Questions? © Husch Blackwell LLP © 2014 Husch Blackwell LLP. All rights reserved..
Recommended publications
  • Ocean Cargo Your Clients Move Goods Across the Globe. We Can
    Your clients move goods across the globe. We can help you keep their coverage close to home. Ocean Cargo Contact Houston Business Insurance Agency, Inc. to learn more about CNA's coverage for overwater operations. HOUSTON BUSINESS INSURANCE AGENCY, INC. Dominique Renaud P.O. Box 541129 Houston, Texas 77254 Phone: 713.979.1001 Email: [email protected] www.houstonbusinessinsurance.com As the world economy expands, so does your opportunity to Cargo Insurance — grow your Cargo book of business with CNA. Today, even the Delivered to Your smallest businesses rely on importing or exporting goods. More than likely, your agency already serves many clients that have Nearest Port Cargo insurance needs. Do your clients: • Sell goods over the Internet? Ocean Cargo • Import or export raw materials or finished products? • Manufacture or sell finished goods overseas? • Store products in an overseas warehouse? • Participate in overseas exhibitions? If your answer is yes, you have found a Cargo opportunity. Cargo coverage from CNA can provide your clients the protection they need without wasting your precious resources on administration and servicing. CNA makes it easy for you with: • Underwriting expertise — As one of the oldest marine insurers in the world, CNA has the experience and expertise of specialized underwriters in local branch offices. • Worldwide claim network — CNA has a worldwide network of claim professionals, as well as independent adjusters and surveyors. • Recovery and subrogation services — CNA collects from parties responsible for the loss and credits your client’s loss history to keep their insurance costs down. • Internet reporting and certificate issuance — CNA makes it easy for your clients to create insurance certificates, report shipment declarations and manage their cargo insurance through CNACargo.com.
    [Show full text]
  • Freight Forwarders, Brokerage, and Shipping Conference Agreements
    19601 COMMENTS FREIGHT FORWARDERS, BROKERAGE, AND SHIPPING CONFERENCE AGREEMENTS: IMPLICATIONS OF THE ISBRANDTSEN DOCTRINE Maritime shipping conferences' have for many years regulated the payment of marine freight brokerage.2 The Federal Maritime Board has accepted this conference practice and extended federal antitrust exemption to it under statu- tory powers granted the Board in the Shipping Act of 1916.3 The Supreme Court's application of Section 14 Third of the Shipping Act in FederalMaritime Board v. Isbrandtsen4 suggests that the Board's policy approving conference brokerage rules requires reconsideration where such rules affect independent liner competitors of conferences. Prior to Isbrandtsen the Federal Maritime Board had a free hand in the formulation of national maritime policy concerning conference activities. Apply- ing the doctrine of primary jurisdiction, the courts were loath to pit their judg- ment against that of the Board.5 In Isbrandlsen the Court struck down a Board- approved conference dual-rate shipping contract system the purpose and effect of which was the elimination of independent competition on the conference's route. This decision overturned a long standing Board policy approving dual rates, and, by implication, the elimination in this manner of independents. The Court held that Section 14 Third of the Shipping Act prohibits dual rate con- tracts where their effect upon independent competition is "predatory" in pur- pose and effect.6 The Board argued unsuccessfully that its powers under the act permitted approval of any conference practice not specifically outlawed by the act. Isbrandtsensuggests that the Court reads section 14 as a further limitation upon the Board's power to give conference activities antitrust exemption.
    [Show full text]
  • The Future of Logistics – What Does the Future Hold for Freight Forwarders?
    The Future of Logistics – What Does the Future Hold for Freight Forwarders? Professor John Manners-Bell Ken Lyon The Future of Logistics – What does the future hold for freight forwarders? Foreword - Kewill The freight forwarding industry is in flux. Amid a rash of consolidations and acquisitions, small- and medium- sized forwarders find themselves struggling to remain competitive with their bigger brethren. For today’s forwarders, the pathway to profitability lies with process automation and value-added services – a two-pronged approach that reduces errors [thus improving customer service] and differentiates your business with customized add-on services. And the best way to achieve both of those goals simultaneously is through technology. Cloud computing gives freight forwarders, particularly the small- to medium-sized forwarders, the logistics toolkit they need to remain nimble in a highly competitive market with thin margins. Thanks to the small upfront investment and quick implementation made possible by the Cloud, forwarders can begin offering integrated additional services such as consolidation, warehouse management, enhanced customs and compliance, as well as the receiving, handling and distribution of goods. Best of all, the Cloud delivers supply chain functionality that’s essentially on par with the complex legacy systems still being used by many forwarders – all for pennies on the dollar. That, in turn, helps level the playing field and prevents smaller operations from getting boxed out of the marketplace. Evan Puzey, CMO Kewill © September 2015 Transport Intelligence Global Express and Small Parcels 2015 2 Introduction In many respects the international freight forwarding sector has changed very little over the past few decades.
    [Show full text]
  • Aaa800ews0p1260outi0june0
    Report No. AAA80 - DJ Republic of Djibouti Public Disclosure Authorized Study on regulation of private operators in the port of Djibouti Technical Assistance Final report June 2012 Middle East and North Africa Region Public Disclosure Authorized Transport Group World Bank document Public Disclosure Authorized Public Disclosure Authorized Study on regulation of private operators in the port of Djibouti Contents CONTENTS INTRODUCTION ...................................................................................................................... 8 EXECUTIVE SUMMARY ........................................................................................................... 9 REGULATION ACTION PLAN FOR PORT ACTIVITES IN DJIBOUTI ........................................ 13 REPORT 1 - DIAGNOSIS ................................................................................................................. 16 1. PORT FACILITIES AND OPERATORS ................................................................................. 17 1.1. An outstanding port and logistics hub .......................................................... 17 1.2. Doraleh oil terminal ...................................................................................... 18 1.3. Doraleh container terminal ........................................................................... 18 1.4. Djibouti container terminal ........................................................................... 19 1.5. Djibouti bulk terminal ..................................................................................
    [Show full text]
  • Best Practice Guide on Abandoned Goods Introduction
    BEST PRACTICE GUIDE ON ABANDONED GOODS International Federation of Freight Forwarders Associations The global voice of freight logistics FIATA INTERNATIONAL FEDERATION OF FREIGHT FORWARDERS ASSOCIATIONS FIATA is a nongovernmental, membership-based organization representing freight forwarders in some 150 countries. FIATA is a reference source on international policies and regulations governing the freight forwarding and logistics industry. FIATA works at the international level to represent service providers who operate in trade logistics and supply chain management. Through its FIATA documents and forms, congress, training and publications, it promotes trade facilitation and best practices among the freight forwarding community. Founded in Vienna, Austria, on 1926, FIATA owes its name to its French acronym (Fédération Internationale des Associations de Transitaires et Assimilés) and is known as ‘the global voice of freight logistics’. FIATA is headquartered in Geneva, Switzerland. DISCLAIMER This document is NOT to be construed as providing any legal advice. FIATA recommends that readers seek independent legal advice if they have any questions on dealing with their specific circumstances. It should be noted that this best practice guide provides general considerations that are of relevance on a global, risk-manage- ment basis, and does not include technical advice. It is recommended that the reader adjust and implement the recommended measures in accordance with the applicable laws and regulations in their jurisdiction, its corporate structure, business model and risk control requirements in the country or geographic areas where it is operating. FIATA accepts no responsibility for the consequences of the use of the information contained in this document.. For further information about the activities of the FIATA Advisory Body on Legal Matters or to make comments about this guide, please contact FIATA at [email protected].
    [Show full text]
  • Memorandum for Claimant
    THE NINETEENTH ANNUAL INTERNATIONAL MARITIME LAW ARBITRATION MOOT UNIVERSITAS PADJADJARAN TEAM 23 MEMORANDUM FOR CLAIMANT ON BEHALF OF AGAINST CERULEAN BEANS AND DYNAMIC SHIPPING LLC AROMAS LTD AND THE SHIP ‘MADAM DRAGONFLY’ CLAIMANT RESPONDENT COUNSEL M IRFAN DIMASYQI YOGI BRATAJAYA PUTRI PARIMARMA ANANTA TAQWA ESTHER CHRISTIE E M TEAM 23 MEMORANDUM FOR CLAIMANT TABLE OF CONTENTS LIST OF ABBREVIATIONS .................................................................................................................... iii LIST OF AUTHORITIES ......................................................................................................................... iv STATEMENT OF FACTS .......................................................................................................................... 1 I. THE TRIBUNAL HAS JURISDICTION TO HEAR THE DISPUTE ............................................ 2 A. Clause 27(d) is not applicable ............................................................................................................. 3 B. Alternatively, clause 27(d) shall be set aside ...................................................................................... 4 i. Master Mariner lacks experience in settling the disputed technical matters ..................................... 5 ii. Clause 27 lacks procedural rules for expert determination ............................................................... 5 iii. Resolution of dispute before an expert is a duplication of effort .....................................................
    [Show full text]
  • Subchapter B—Regulations Affecting Ocean Shipping in Foreign Commerce
    SUBCHAPTER B—REGULATIONS AFFECTING OCEAN SHIPPING IN FOREIGN COMMERCE PART 515—LICENSING, FINANCIAL APPENDIX F TO SUBPART C OF PART 515—OP- TIONAL RIDER FOR ADDITIONAL NVOCC FI- RESPONSIBILITY REQUIREMENTS, NANCIAL RESPONSIBILITY FOR GROUP AND GENERAL DUTIES FOR BONDS(OPTIONAL RIDER TO FORM FMC–69] OCEAN TRANSPORTATION INTER- MEDIARIES Subpart D—Duties and Responsibilities of Ocean Transportation Intermediaries; Subpart A—General Reports to Commission Sec. 515.31 General duties. 515.1 Scope. 515.32 Freight forwarder duties. 515.2 Definitions. 515.33 Records required to be kept. 515.3 License; when required. 515.34 Regulated Persons Index. 515.4 License; when not required. 515.5 Forms and fees. Subpart E—Freight Forwarding Fees and Compensation Subpart B—Eligibility and Procedure for Licensing 515.41 Forwarder and principal; fees. 515.42 Forwarder and carrier; compensation. 515.11 Basic requirements for licensing; eli- 515.91 OMB control number assigned pursu- gibility. ant to the Paperwork Reduction Act. 515.12 Application for license. AUTHORITY: 5 U.S.C. 553; 31 U.S.C. 9701; 46 515.13 Investigation of applicants. U.S.C. 305, 40102, 40104, 40501–40503, 40901– 515.14 Issuance and use of license. 40904, 41101–41109, 41301–41302, 41305–41307; 515.15 Denial of license. Pub. L. 105–383, 112 Stat. 3411; 21 U.S.C. 862. 515.16 Revocation or suspension of license. 515.17 Application after revocation or de- SOURCE: 64 FR 11171, Mar. 8, 1999, unless nial. otherwise noted. 515.18 Changes in organization. EDITORIAL NOTE: Nomenclature changes to part 515 appear at 67 FR 39860, June 11, 2002, Subpart C—Financial Responsibility Re- and 70 FR 7669, Feb.
    [Show full text]
  • Case 1:06-Cv-03346-JFM Document 222 Filed 11/30/09 Page 1 of 22
    Case 1:06-cv-03346-JFM Document 222 Filed 11/30/09 Page 1 of 22 IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MARYLAND TRITON MARINE FUELS, LTD. * * v. * Case No.: JFM-06-CV-3346 * M/V PACIFIC CHUKOTKA * * **** OPINION Triton Marine Fuels Ltd., S.A. (―Triton‖) has moved—in response to Triton Marine Fuels Ltd. v. M/V Pacific Chukotka, 575 F.3d 409 (4th Cir. 2009) (―Triton II‖)—for summary judgment and monetary judgment pursuant to Federal Rules of Civil Procedure 54 and 58. This motion is granted in part and denied in part. Triton is awarded a monetary judgment of $260,400, plus pre-judgment interest at a rate of 2.34 percent. Triton‘s request for attorneys‘ fees is denied. FACTS AND PROCEDURAL HISTORY In late 2006, Triton, a Panamanian corporation, brought an in rem action against the M/V Pacific Chukotka (―the Vessel‖), a vessel registered in Malta and owned by Green Pacific A/S (―Green Pacific‖). Triton Marine Fuels Ltd. v. M/V Pacific Chukotka, 504 F. Supp. 2d 68, 69 (D. Md. 2007) (―Triton I‖), overruled by Triton II, 575 F.3d. Triton alleged it possessed a maritime lien over the Vessel after it supplied the Vessel with fuel and was never paid. Id. The material facts of this case are not in dispute. Triton II, 575 F.3d at 411. Emerald Reefer Lines, Ltd. (―ERL‖) sub-chartered the Vessel from Intertransport Company LLC (―Intertransport‖), a Russian company which had chartered the Vessel from Green Pacific. Triton I, 504 F.
    [Show full text]
  • Freight Forwarder Bills of Lading and the Cro Case
    BANKING ON THE HOUSE: FREIGHT FORWARDER BILLS OF LADING AND THE CRO CASE Dr David Goodwin* 1 Introduction A decision of the New South Wales Court of Appeal handed down in July 2018, Cro Travel Pty Ltd v Australia Capital Financial Management Pty Ltd,1 illustrates liabilities that can arise when bills of lading issued by a freight forwarder are provided to a financier of international trade as security. The Court reviewed the implications of the issuing of ‘house’ bills of lading by a forwarder, long an uncertain area under Australian law. The case should cause freight forwarders to reflect on the architecture and mechanics of their existing documentary management processes. The case is significant because it is the first decision of a higher Australian court for more than two decades to explore in depth the nature and effect of house bills of lading. Freight forwarders engaged in international export transactions face a complex web of potential liabilities. This web has been widened by the CRO case, which demonstrates the operation of two causes of action that have now become well-established, and which supplement the usual contractual, tortious and bailment remedies that attend cargo loss litigation: a) breach of warranty of authority; and b) actions for ‘misleading or deceptive conduct’ under the Australian Consumer Law.2 This article begins with a brief outline of those usual remedies and their interaction with rules of agency, and a description of the factors which bear on whether the role of a forwarder in a given transaction has been that of an agent or a principal (Sections 2 and 3).
    [Show full text]
  • Role of Freight Forwarders
    7/15/2012 Role of Freight Forwarders Moderator: Thomas Andrukonis Director, Export Management and Compliance Division Roles and Responsibilities of Freight Forwarders Under the Export Administration Regulations July 18, 2012 1 7/15/2012 Parties to an Export Transaction • Exporter • Forwarding Agent • Intermediate Consignee • Ultimate Consignee • End-User • Principal Party in Interest What is a Forwarding Agent? “The person in the United States who is authorized by a principal party in interest to perform the services required to facilitate the export of the items from the United States. This may include air couriers or carriers” (15 C.F.R. § 772.1) 2 7/15/2012 Routed Export Transactions • There are two kinds of routed export transactions: – Those in which the freight forwarder or other agent is responsible for arranging transportation and other services, but the agent is not the exporter of the items. – Those in which the freight forwarder or other agent takes on the responsibility of the exporter of the items. When does a routed export transaction result in the shift in export control responsibility? • There must be two written documents transferring the export control responsibilities: – A writing from the foreign principal party in interest to the US principal party in interest expressly assuming export control responsibilities. – A power of attorney or other writing from the foreign principal party in interest to the freight forwarder or other agent authorizing the agent to work on the foreign principal party in interest’s behalf on the transaction. 3 7/15/2012 Routed Export Transaction • If both writings have been obtained, the freight forwarder, acting as agent for the foreign principal party in interest, becomes the exporter of the items and is responsible for determining licensing requirements and obtaining license authority.
    [Show full text]
  • Will You Be Ready When a Loss Happens to You? What Supply Chain Professionals Need to Know About Insurance
    FINANCIAL, INSURANCE & PAYMENT SERVICES FOR YOUR SUPPLY CHAIN Will you be ready when a loss happens to you? What supply chain professionals need to know about insurance. Author: J. Paul Dittman, PhD Executive Director The Global Supply Chain Institute at The University of Tennessee College of Business Administration Introduction Transportation risk can come from a myriad of sources and can be very hard, if not impossible, to predict. These events run the gamut and include weather extremes, theft, hijacked trailers, global crises, cargo lost at sea (maritime law allows a captain to jettison some containers to save the rest), catastrophic truck or rail accidents, truck fires, etc. In fact, there’s an estimated $50 billion in annual global financial impact from cargo loss1. At the University of Tennessee, we work with hundreds of companies through our supply chain audits and Supply Chain Forum. These companies range from very large (over $400 billion in revenue) to smaller firms, and include retailers, manufacturers and logistics service providers. Most of the companies in our database (at least 80%) have experienced a supply chain disruption that caused a major spike in cost and/or a major loss in revenue and profit. Small businesses are especially at risk from a large loss event. More and more companies value supply chain professionals that can anticipate and look for Annual global ways to mitigate risks, rather than those that deal with consequences as they happen. But if something does happen, the company’s financial health must be protected, and that’s where financial impact insurance comes in.
    [Show full text]
  • Sea Venture • Issue 25 Features
    Sea Venture Issue 25 In this issue 06 OW Bunkers – A Global Perspective 17 Tianjin – Shipping Issues 49 Iran Sanctions: Is the End in Sight? 53 SK Shipping Naming Ceremony 54 War Risk and K&R Cover Introduction 04 Contents Rock and a Hard Place Features 04 Rock and a Hard Place 06 OW Bunkers – A Global Perspective Malcolm Shelmerdine 08 Voyage Charters – Damages for Delay and Director Positional Loss [email protected] 10 RMS “Titanic” Rest in Peace or Wrest a Piece Welcome to the 25th issue of Sea Venture. 13 Liability for Freight and Demurrage under a Bill of Lading This is the time of year that the P&I industry attracts most publicity and 15 Financial Consequences of Failure to Collect Cargo attention as preparations for 20 February renewal gather pace. The Club experienced a remarkably good period in the last financial year when 17 Tianjin – Shipping Issues Editorial Team underwriting and financial results exceeded expectations. Furthermore, 08 19 Change in California Shipping Lanes to reduce the Board recently agreed that no general increase in premiums for either Whale Strikes Piers Barclay, Paul Brewer, P&I or FD&D is required for 2016/17. This is the second year in succession Voyage Charters 21 Tanker Troubles in Nigeria Patrick Britton, Heloise Clifford, that a general increase has not been sought, good news for the Members - Damages for Beth Larkman, Sarah Nowak, and a reflection of the support the Club seeks to provide. However, market 23 The Sea Miror – Risk, Responsibility, and Stevedore Carole O’Brien, Malcolm conditions and the risk of an increased incidence of claims – both in terms Delay and Cargo Damage Shelmerdine, Danielle Southey.
    [Show full text]