Comment and analysis by Reed Smith lawyers on the latest developments in the shipping industry
This article was originally published on Lloyd’s Maritime and Commercial Law Quarterly and is republished with permission.
In this bulletin, we once again draw on our annual reports on French shipping law published by Andrew Tetley and Antoine Guillemot in the Lloyds Maritime and Commercial Law Quarterly Yearbook.
In this bulletin, Andrew Tetley and Antoine…
Hapag-Lloyd AG v. Skyros Maritime Corporation and Agios Minas Shipping Company [2024] EWHC 3139 (Comm)
In a significant new case, the UK Commercial Court assessed damages following late redelivery of two vessels under time charterparties where, pursuant to the terms of MOAs signed with third party buyers for their sale, Owners could not charter the…
This case illustrates the complex relationship that can exist between proceedings brought against two different sea carriers arising out of the same event. French Courts addressed the following question: how can judgments issued in one of the proceedings be used in the other proceedings? Ultimately, the handling of circular recourses between cargo interests, sea carriers and stevedore companies depends on the interpretation of privity of contract and res judicata.Continue Reading One event, two legal realities! Successful outcome for Reed Smith’s Paris shipping team in major cargo claim dispute
This article was originally published on Lloyd’s Maritime and Commercial Law Quarterly and is republished with permission.
In the latest of our series, which is annually published in the Lloyds Maritime and Commercial Law Quarterly Yearbook, Andrew Tetley and Antoine Guillemot have collated and reported on developments in French shipping law.
Trading companies that seek to insulate their shipping risk by allocating their chartering activities to a separate entity will be reassured by a recent judgment of the English Court, in which it was decided that a letter of indemnity was enforceable only against the entity which had issued it, and not against a connected entity (or their exporter clients) as supposed undisclosed principals.Continue Reading Keeping Risk at Arm’s Length – The Xing Zhi Hai [2024] EWHC 2371 (Comm)
Despite living in an age of instantaneous correspondence and fast contractual negotiations, parties may still assume that promises as important as parent company guarantees, require detailed written documents, wet-ink, or e-signature signatures in order to be enforceable. The English Courts have recently reaffirmed that this is not the case.
SFL Ace 2 Co Inc v DCW Management Ltd (formerly Allseas Global Management Ltd) (the “M/V Green Ace”)Continue Reading The importance of email sign offs: the formalities of executing a parent company guarantee under the Statute of Frauds 1677
This article provides an overview of the legal issues related to the maritime recovery of reusable rockets, which is an emerging practice in the commercial space industry. It summarizes the current state of the space economy, the sources of space law in the U.S., and the regulations affecting the waters and the vessels involved in the recovery operations.Continue Reading Recovering rockets at sea: the intersection of space law and maritime law
Following the recent dissolution of the French National Assembly, the country is preparing for early legislative elections. The political climate is tense for shipping companies with the two leading political parties in the polls considering abolishing the French tonnage tax regime.Continue Reading French Tonnage Tax Regime: a prime target in the midst of legislative elections
International obligations: climate change
At a United Nations climate conference in late 2023, participants championed the successes of climate commitments in previous years. Nevertheless, there was consensus that not enough action has occurred to enable participants to meet the goals of the Paris Agreement in 20151. This agreement set ambitious goals relating to…
International shipping has the potential to undergo an evolution with developments in autonomy—these developments present opportunities to both increase safety and reduce risk to vessel operations. Zulu Associates, a Belgian company which describes itself as an innovator in marine logistics and focusses on smaller vessels, expects to put small autonomous container ships into the English Channel or Southern North Sea by 2026. In an interview with TradeWinds, the CEO of Zulu Associates, Antoon Van Coillie, indicated that shipping insurance markets are cognizant of autonomous systems and ships. He asserted that financing would not be an unsurmountable barrier, since financial institutions are especially interested in vessel sustainability.
In 2021, the global autonomous ships market had a revenue share of over 89 million USD, and is projected to grow at a compound annual growth rate of 6.81% through 20311.Continue Reading Big waves: global autonomous ships market on the rise
