On 23 August 2023 OFAC issued a determination that allows sanctions to be imposed on any foreign individual or entity that operates in the jet fuel sector of the Burmese economy by expanding Executive Order 14014 (the”EO”).
This notice confirms approval by the IG of an updated version of the DSUA. This version is called DSUA 2023.1 and supersedes DSUA 2021.1, which remains approved for the purposes of Club cover.
Circular 08/23: EU Sanctions against Russia
04/07/2023
On 23 June 2023 the EU Council adopted the 11th package of economic sanctions against Russia to prevent their circumvention and further erode Russia’s revenues.
Circular 07/23: Open Policy Years
31/05/2023
This circular informs Members of the review of open policy years.
This circular confirms approval by the International Group of an updated version of the Secro Customer and User Agreement dated 16th March 2023 as well as use of the Secro Customer e-billls of lading in conjunction with the said User Agreement
Effective December 4, 2022, the UK Government enacted General Licence INT/2022/2469656 (GL) to enforce EU/G7 price limits on crude oil of Russian origin.
On 24 February 2023, the one year anniversary of Russia's invasion of Ukraine, the US Department of State and the US Department of Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on numerous additional individuals, entities and vessels that the US has determined are engaged in sanctions evasions.
On 25 February 2023, the EU adopted its 10th package of sanctions against Russia
Circular 02/23: War Risks P&I Excess Cover
17/02/2023
Special War Risks P&I Excess Cover, And Bio-Chem Cover, And Us Terrorism Risk Insurance Act Of 2002, As Amended By The Terrorism Risk Insurance Program Reauthorization Act Of 2019
EssDOCS, Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A
Important update: South Korea Quarantine Regulation changes outlined in the latest circular from correspondent Spark International
MPA Singapore Port Marine Circular No. 22
11/01/2023
The MPA of Singapore has issued Port Marine Circular No.22 on restrictions for unmanned aircraft over port waters in response to increasing incidents.
Due to the impact of losses from the Russian/Ukrainian situation affecting the availability of global insurance and reinsurance capacity, the Club's reinsurers are no longer able to secure reinsurance for war risk exposure to Russian, Ukrainian or Belarus territorial risks.
Special GM Of The United Kinagdom Mutual Steam Ship Assurance Association (Bermuda) Limited - Proposed Amendments To Rules, Bye-Laws And Articles Of Association
Circular 17/22: The Price Cap on Russian Oil
09/12/2022
The EU, G7 and Australia (the “Price Cap Coalition”) has recently introduced legislation and guidance effective 5 December 2022 intended to maintain the supply of Russian oil to world markets whilst at the same time reducing Russia’s earnings from its oil exports (the “Price Cap Scheme”).
This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of the Secro system
Circular 15/22: General Meeting Reports
11/11/2022
At the Annual General Meeting held in Dubai on Monday 7th November, the proposed resolutions in the agenda were put to the Members and were adopted by the meeting.
At their November meetings in Dubai and Rotterdam, the Boards reviewed the financial position of the Club, including the performance of the open and closed policy years, and have set a general increase of 10 per cent on all mutual premium rates for the 2023 renewal. The decisions have been agreed by the Club and its subsidiaries, including UKNV which underwrites all EEA risks.
Oasis P&I Services: circular relating to route adjustment between Yantai port & Weihai port and alert of fishery farms to the south of new route
EU updated FAQs on 19 Sept and 7 Oct 2022 to clarify transporting certain Russian goods to non-EU countries is not prohibited under Council Regulation (EU) 833/2014.