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Wikborg Rein | Global | 8 Sep 2021

ASBAGASVOY 2020 – new voyage charter for gas tankers

The new ASBAGASVOY charter form is intended to be used for vessels transporting liquefied petroleum gas, anhydrous ammonia and chemical gases, an industry sector that has seen significant expansion. Its introduction serves to save time and reduce the risk of contractual disputes by reflecting industry commercial practice and setting out the necessary terms in a clear and concise way.
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Wikborg Rein | Norway | 1 Sep 2021

Notice of defects – possible traps for buyers and builders

A Supreme Court decision has provided guidance on the importance of a buyer giving notice of defects in due time, as well as the significance of a builder reserving their rights before entering into discussions on the merits of those defects. Although the case in question concerned a road construction, the principles of the judgment were found to apply generally and therefore are relevant to......
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Wikborg Rein | United Kingdom | 1 Sep 2021

High Court provides further guidance on implied terms under English law

In the shipping and offshore industry, guarantees are frequently given as security to legally promise the performance of a separate or primary contract. If a party to a primary contract defaults on its obligations, the guarantee provides an additional and, in theory, less costly and complex avenue for recovering any amounts owed to a beneficiary. A recent High Court decision on this matter......
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Wikborg Rein | United Kingdom | 18 Aug 2021

Shipbuilding contract dispute: demand or see to it guarantee?

In a recent decision with potentially far-reaching implications for the shipbuilding industry and for guarantees generally, the Court of Appeal issued a judgment addressing what makes a guarantee issued by an entity other than a financial institution a "demand" guarantee rather than a "see to it" guarantee. This judgment serves as reminder of the need to be careful when drafting guarantees......
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Wikborg Rein | Norway | 11 Aug 2021

Shipbuilders' interpellation right – obtaining clarity regarding delayed shipbuilding projects

For various reasons, delays often occur in shipbuilding projects, thus creating a need for clear regulation of the parties' rights and obligations. The "interpellation right" entitles the builder to require the buyer to elect to either accept delivery of the delayed newbuild on a specified, new date or cancel the contract forthwith. Where there is a risk of cancellation by the buyer, the......
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Wikborg Rein | Global | 14 Jul 2021

Updated BIMCO contracts for towage and barge hire

The Baltic and International Maritime Council recently published new editions of the widely used Towhire, Towcon and Bargehire contract forms, which were last revised in 2008. The amendments are intended to improve legal clarity and bring the contracts more in line with current commercial practices. While the uptake of new contract forms by the industry is often somewhat slow, in all......
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Wikborg Rein | Norway | 26 May 2021

Green shipping: governmental support scheme for green offshore vessels

In furtherance of its ambition to cut CO2 emissions from the short-sea shipping industry by 50% by 2030, the government recently announced that NKr150 million has been earmarked to support green investments in offshore vessels in 2021. With the international focus on green and sustainable shipping, this is a welcome development for shipowners in the Norwegian market and an important......
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Wikborg Rein | United Kingdom | 19 May 2021

LMAA Terms 2021: what's new for end users?

The London Maritime Arbitrators Association (LMAA) recently published a revised version of its terms of procedure. The last revision took place in 2017. Since then, there have been significant changes in the way in which hearings are conducted (due in part to the COVID-19 pandemic and the move to virtual hearings) and updates to comparable costs and witness statement requirements in English......
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Wikborg Rein | Norway, United Kingdom | 14 Apr 2021

Shipping disputes: jurisdiction and enforcement of judgments post-Brexit

Due to the inherent multi-jurisdictional nature of shipping disputes, the reciprocal recognition and enforcement of judgments can be crucial. Judgments often require enforcement over assets which are located in another jurisdiction. The Lugano Convention made this possible with regard to the enforcement of UK judgments in signatory states and vice versa. However, when the Brexit transition......
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Wikborg Rein | Global | 7 Apr 2021

BIMCO launches Asvtime for accommodation support vessels

The Baltic and International Maritime Council (BIMCO) recently expanded its suite of offshore contracts by launching the new standard time charter for accommodation support vessels, the Asvtime. The objective was to develop a new form that builds on well-established industry precedents but includes tailored features for vessels whose primary function is providing accommodation for personnel......
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