Originally published By Superyacht News in ‘The Superyacht Owner Report’.

Superyacht construction has always been a laboratory for innovation, pursuing the highest standards of comfort, luxury and safety – from the use of fibreglass hulls to the general use of stabilisation systems.

Continue Reading Assessing the risk factor

Threatened with abrogation by numerous amendments submitted by opposition MPs during the examination of the Finance Bill for 2024, the French tonnage tax regime has finally been saved. Indeed, the Government decided to rely on its power under Paragraph 3 of Article 49 of the Constitution, to force through the contested bill without a vote and without any of the contemplated amendments.

Continue Reading French Tonnage Tax regime saved by Government’s 49.3 move in Parliament

The global shipping industry is the backbone of international trade, connecting economies and facilitating the movement of goods. However, it comes with pronounced risks. From adverse weather conditions to regulatory complexities, managing risks in shipping supply chains requires meticulous planning and legal foresight. This article explores three areas in which legal strategies can help the shipping industry meet the challenges can be developed.

Continue Reading Navigating Storms: Some legal strategies for contingency planning in shipping supply chains

We are conducting a short, anonymous survey to find out your thoughts on sustainable fuel sources in the transportation industry, including your understanding of the various options, potential challenges, and expected timings for full conversion to sustainable fuel sources. Please take 5 minutes to complete the survey.

We know this topic is top of mind for many of our clients in the shipping industry, particularly with the expansion of EU ETS into shipping, debate around the Carbon Intensity Indicator (“CII”) Regulations, and the EU’s Carbon Border Adjustment Mechanism (CBAM).

We look forward to sharing the results of this survey in a report in the next few months.

Navigating the turbulent waters of the global supply chain from geopolitical uncertainty, to evolving sanctions, and the adoption of decarbonisation: Insights from Reed Smith’s London International Shipping Week event.

Continue Reading Insights from Reed Smith’s London International Shipping Week event: Managing your supply chain risk

In The “Navigator Aries” [2023] SGCA 20, the Singapore Court of Appeal (the “CA”) clarified that Rule 9(a) of the International Regulations for Preventing Collision at Sea 1972 (the “Colregs”) requires a vessel proceeding in a narrow channel to keep as near to the outer limit which lies on her starboard side as is safe and practicable (the “Limit Requirement”), and not merely to keep to the “lane” that is on her starboard side (the “Lane Requirement”).

Continue Reading Singapore Court of Appeal clarifies the proper interpretation of Rule 9(a) of the Collision Regulations

From April 2023, it is a requirement in collision cases that even where only one party has the information in its possession, electronic track data (“ETD”) must be provided to the other party. This is a welcome amendment to the previous rule that the parties had to do so only where they both had ETD in their possession.

Continue Reading Collision Statements of Case – what must you disclose and when?

This article was first published in Naftemporiki.

The New Code of Private Maritime Law enacted by Law 5020/2023 (the “New Code”), which came into force on 1 May 2023 (with the exception of Articles 4 to 9 concerning the digitisation of the ship registry, which will be in force from 1 November 2023), is an important step towards the modernisation of Greek Maritime Law. The New Code, which replaced the previous Code (Law 3816/1958), seeks to simplify the legal framework for the operation and financing of Greek vessels and align Greek maritime law with international practices. Below is a summary of some of the most important amendments introduced by the New Code and the impact they are expected to have on Greek shipping.

Continue Reading New Code of Private Maritime Law – Maritime law in the 21st century

The global economy is undergoing an energy transition that promises to put clean renewable energy sources front and centre by the end of the decade. Current market trends point to an opportunity for investors in offshore wind projects and associated shipping assets. This article proposes key reasons for considering joint ventures and investment in this sector.

Continue Reading The answer is investing in the wind – Joint ventures in offshore wind

The government used the Spring Budget 2023 to confirm three significant amendments to the UK Tonnage Tax regime:

  1. Opening an 18-month election window for re-entry to the UK Tonnage Tax regime;
  2. Permitting ship management companies to join the UK Tonnage Tax regime; and
  3. Increasing the limit on capital allowances for lessors who lease ships to companies, which are subject to the UK Tonnage Tax regime.

The government has now published the “Tonnage Tax (Further Opportunity for Election) Order 2023” which will implement these changes and which comes into force on 1 June 2023.

Set out below is more detail and content on these measures as well as our views of their impact and the policy behind them.

Continue Reading The reform of the UK Tonnage Tax regime and its implications