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
the Singapore Court of Appeal has clarified the International Regulations for Preventing Collision at Sea (1972) requiring 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, not merely to keep to the “lane”.
Continue Reading Singapore Court of Appeal clarifies the proper interpretation of Rule 9(a) of the Collision Regulations
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 UK government has published the “Tonnage Tax (Further Opportunity for Election) Order 2023” which will implement three significant changes and will come into force on 1 June 2023.
Continue Reading The reform of the UK Tonnage Tax regime and its implications
BBNJ President Rena Lee proposed yesterday that the Intergovernmental Conference reconvene on June 19, 2023 to adopt the BBNJ treaty. When and how can the treaty then create binding obligations for private companies operating in the high seas?
Continue Reading How the new “BBNJ” or “high seas” treaty may soon result in new obligations for the private sector
The BBNJ agreement, or ‘High Seas Treaty,’ was reached by delegates of the Intergovernmental Conference and is the culmination of talks that have spanned two decades. This historic milestone was met with tears and a standing ovation from delegates.
Continue Reading New United Nations treaty on Biodiversity Beyond National Jurisdiction (BBNJ)
In our October 2021 blog “Possession as we (don’t) know it!”, we discussed the existing position under English law in respect of electronic trade documents and the scope for reform in light of the Law Commission’s consultation paper and draft legislation “Digital assets: electronic trade documents (2021) Law Commission Consultation Paper No 254”, published on 30 April 2021.
Continue Reading Solving the ‘possession’ problem – Law Commission publishes draft legislation for the legal recognition of electronic trade documents
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. The change could finally unlock the full potential of digital trade documents, while at the same time keeping English law at the forefront of global commerce.
The existing position under English law is that one cannot legally ‘possess’, or have physical control of, something intangible (not including intellectual property rights, which are governed by separate rules). This means that a purely electronic or digital trade document cannot be possessed, and so cannot fulfil the legal functions of its possessable paper equivalent. But the UK Law Commission’s recent proposals for the reform of English law regarding possession of electronic trade documents and the accompanying draft legislation (the Draft Bill) suggest that more universal digitisation of electronic bills of lading and other trade documents will soon be a reality.
Electronic trade documents, at least in the form of ‘e-bills’, have been in use for almost two decades due to their undisputed benefits and efficiency. However, they remain, as the Law Commission puts it, “workarounds” to the problem of intangible, digital documents not being capable of possession under English law. This is primarily because electronic documents are created under multi-party contracts between a closed group of parties engaged in a particular trade that agrees to recognise them as having the same qualities as a paper document.
What the Law Commission’s proposals seek to address is the “possession problem”, a timely example of English law keeping up with technological solutions (including blockchain) to give electronic trade documents the same legal function as their paper equivalents.
What does the new law say?
Singapore will soon be implementing the 1996 Protocol to the Convention on Limitation of Liability for Maritime Claims of 1976 (as amended in 2012 and effective from 2015), following the passing of the Merchant Shipping (Miscellaneous Amendments) Bill.
With the passing of the Bill, Singapore’s limitation of liability regime for maritime claims will be aligned
The Merchant Shipping (Miscellaneous Amendments) Bill was read in the Singapore Parliament for the first time on 19 November 2018.
The Bill proposes to make a number of significant amendments to Singapore’s merchant shipping legislation. These include:
The Bill is expected to be debated in parliament over the coming weeks. A further update will follow if the Bill is passed.
Continue Reading Significant amendments in the pipeline to Singapore’s Merchant Shipping Act