15+15 webinar: Thou Shall Not Pass! Routing Through the Red Sea in 2024

The last three months have seen a substantial volume of queries in relation to the pros and cons of transiting via the Gulf of Aden versus the Cape. In this episode of 15+15, Alex Kemp and Simon Maxwell , experts in war risks from HFW will briefly discuss the latest in the Red Sea, the level of the threat posed and the factors to be taken into account when deciding when to proceed and when to re-route. The main take-aways from the presentation will be: The decision of whether to re-route requires a nuanced review of the interplay between the contractual matrix and the current threat level (which is informed by a multitude of sources). A pragmatic and commercial approach (focused upon engaging with all parties to the maritime adventure) often provides the greatest chance of reaching the right conclusion, hopefully without the threat of legal-action emerging after. HFW have unparalleled experience in advising clients on recent war risks around the world including Somali Piracy, West African Piracy, the war in Ukraine, the war in Gaza, the attacks around Saudi and the more recent activities of the Houthis in the Red Sea.

Persian Gulf: War risks revisited

As a result of increasing tension in the Persian Gulf area following recent attacks on two tankers, War Risk underwriters are charging additional premiums (AP) for calls to the Arabian Gulf/Gulf of Oman. Some underwriters are charging a flat rate for all tonnage operating in the area, while others are differentiating based on the type of tonnage, flag and port of call. AP is typically charged as a percentage of the hull value. Underwriters day top value is at present 1%.

Warranty limits

In year 2000 the Institute of Chartered Underwriters, London revised the Institute Warranty Limits and with effect from 1 November 2003, the limits are referred to as International Navigating Limits (INL).

Canada, Manitoba, Churchill MAN - Ice

SHIPMAN 2024

SHIPMAN is a ship management agreement that may include crew, technical and commercial management as well as insurance arrangements in respect of a ship. The latest edition of this contract is SHIPMAN 2024. Copyright in SHIPMAN 2024 is held by BIMCO.

Carriage Contracts, Liabilities & Cargo Claims Masterclass Online

Carriage Contracts, Liabilities and Cargo Claims Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 2x75 minutes with a short break in between. During the masterclass, the speakers will examine specific issues arising when goods are damaged, lost or delayed during transit.

Explanatory notes

Piracy Clause for Time Charter Parties 2009

The latest edition of this clause is the Piracy Clause for Time Charter Parties 2013 .

Carriage Contracts, Liabilities & Cargo Claims Masterclass Online

Carriage Contracts, Liabilities and Cargo Claims Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 2x75 minutes with a short break in between. During the masterclass, the speakers will examine specific issues arising when goods are damaged, lost or delayed during transit.

Manolis Nicolaou

Manolis comes to shipping from a legal background having studied law in the UK and the University of Bristol. Following an initial period of working for law firms in Cyprus related to shipping and commercial/company law he then focused on marine insurance related matters. Having worked across various disciplines in the field including claims handling, brokering, and loss adjusting he joined Columbia Shipmanagement Ltd as a Claims Officer in the Insurance and Claims department. Other than claims handling his duties include sanctions reviews, data protection, as well as negotiating and drafting the wording of the shipmanagement agreements based on the BIMCO template and any related documentation such as managers’ undertakings.