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Stephenson Harwood LLP

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The abuse of power its effect on charterparty and sale contracts

United Kingdom - September 4 2012 Owners (“O”) chartered the vessel to Trafigura (“T”) on a BEEPEEVOY 3 form to load a cargo of crude oil at an FPSO terminal off Port Harcourt, Nigeria between 31 August 1 September 2009

Bominflot GmbH v Petroplus Marketing AG (“The Mercini Lady”)

United Kingdom - November 22 2012 B agreed to purchase a consignment of gasoil from P on FOB terms to be shipped and delivered to B at Antwerp on the vessel Mercini Lady

Standard Coal Trading Agreement ("SCoTA") Version 8

Global - November 7 2011 Global Coal published its SCoTA Version 8 ("V.8") on 16 September 2011, which introduces significant amendments to both the structure and clauses of the SCoTA contract

CJEU upholds Sturgeon judgment

European Union - November 20 2012 In a long-awaited but widely anticipated judgment delivered on 23 October 2012 in the joined cases of TUI and Others and Nelson, the Grand Chamber of the Court of Justice of the European Union (CJEU) reconfirmed the 2009 Sturgeon judgment of the Fourth Chamber of the CJEU, which had the controversial effect of rewriting Regulation (EC) No 2612004 so as to provide passengers delayed for 3 hours or more in arriving at their final destination with the same rights to fixed-rate compensation as passengers whose flights are cancelled

“Take it or leave it” and economic duress

United Kingdom - May 10 2012 A problem frequently faced in turbulent markets is that of a guilty contracting party threatening to breach, or actually breaching, a contract with an innocent contracting party

Greater China - update - July 2015

China - October 7 2015 Chinese government released Environmental Protection Tax law for public comment on June 10, 2015 up until to 9, July, 2015, as a result of its

Greater China - update - May 2015

China - October 7 2015 On May 5, 2015, the National Development and Reform Commission of the People’s Republic of China (NDRC) announced new pricing mechanisms starting

Greater China - update - April 2015

China - October 7 2015 On 18 March 2015, PRC Ministry of Environmental Protection (the MEP) issued the Notice on Further Enhance Accountability Ascertaining for Projects in

Overview of the banking industry in Kenya

Kenya - October 7 2015 The Kenyan banking industry has experienced considerable growth in the past few years. The banking sector was robust and stable and registered

Selection of arbitration and jurisdiction of courts in China

China - October 7 2015 The rules governing arbitration and jurisdiction in China can be confusing to foreigners because of the distinctive nature of the regulations and