Stay updated with breaking news from War Risks. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The escalation of the Ukraine /Russian crisis has highlighted the challenges shipping companies are facing due to growing geopolitical risks. Black Sea is a key transit point for agriculture products, metals and energy and is expected that the military action will disrupt supply chains and their operations. The US, EU, UK, Japan and Canada have ...
This short guide highlights some of the key issues that may affect the obligations and rights of contracting parties following developments in the Russo-Ukrainian conflict, with a focus on BIMCO clauses. In all circumstances, parties should carefully review their contractual terms for current and future fixtures and, if in any doubt, seek legal advice before ...
Owner members whose vessels are ordered, or charterer members who order vessels, to proceed to load or discharge at Ukrainian and / or Russian Black Sea ports should consider the English law charterparty and cover issues outlined below as the situation in the area develops. 1. War Risks It is common practice to include war ...
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and cover in respect of chemical, biological, bio-chemical and electromagnetic weapons and computer viruses, for the 2022 policy year. War and terrorism risks For 2022, cover for war and terrorism risks will remain available from the Club ...
The English Appeal Court has concluded cargo underwriters are not excused from contributing in general average towards a ransom payment, notwithstanding the fact the voyage charterers contributed under the terms of the charter towards the additional war risk premium payable to owners’ war and K&R insurances, and the charter was incorporated into the bills of ...