OUTLINE • On 14 May 2020 the US issued a Global Maritime Advisory (“Guidance”) aimed at a range of industry sectors including marine insurers such as P&I clubs and shipowners and charterers. • The Guidance updates and expands earlier advisories concerning Iran, Syria and North Korea (“the DPRK”). • The Guidance provides detail on the level of due diligence and other compliance related activities expected by the US Government of parties whose business activities run a risk of engaging in trades that may breach US sanctions.
In line with their legal and regulatory obligations, all Clubs in the International Group maintain sophisticated sanctions compliance programmes and procedures. The rules and procedures developed by Clubs to manage sanctions risks take account of the guidance provided by bodies such as the UN Security Council (UNSCR), the UK Office of Financial Sanctions Implementation (OFSI), the US State Department and the US Office of Foreign Assets Control (OFAC). Through its system of circulars and news alerts, Clubs also seek to keep their Members up to date on recent developments with respect to sanctions.
The International Group of P&I Clubs, International Chamber of Shipping (ICS), BIMCO and InterManager (the “international industry organisations”) draw Members’ attention to the series of recent ship detentions and crew arrests in Mexico and, in the case of the UBC Savannah, the lengthy and continuing detention in custody of the ship’s Master without any formal charges against him, following the discovery of illegal narcotics on board.
This circular is an update on the Democratic People’s Republic of Korea (DPRK) sanctions enforcement circular that we published in 2019. It has been updated following the recently published 2019/2020 UN Panel of Experts of North Korea Sanctions Report (see Report).
OUTLINE China MSA has published new Measures of Administration on Agreement for Ship Pollution Response Regime, in effect from 1st March 2020; From 1st March 2020, SPRO Agreements will...
The International Group has previously agreed to cover liabilities arising in respect of the carriage of cargo under five electronic trading systems – Bolero (www.bolero.net), ESS (www.essdocs.com) the e-title system (www.e-title.net/), the Global Share S.A. edoxOnline platform (www.globalshare.com.ar ) and the WAVE network (http://www.wavebl.com/). This circular announces the additional approval of the CargoX.
At their meeting on 3rd February 2020, the Directors reviewed the basis on which special war risks P&I cover could be made available to Members in accordance with the proviso to Rule 5E, and determined that this cover should be made available to Members for the 2020 policy year in accordance with the terms of the attached Directors’ Resolution of 3rd February 2020.
In 2010 the International Group launched the P&I Qualification (P&IQ) programme as a dedicated professional qualification providing high quality, sector-specific training in all aspects of P&I insurance to Club employees. The course allows candidates to gain valuable knowledge of the shipping industry, the origins and operation of P&I Clubs and the different types of liabilities insured. Two years after making the course available to Club correspondents, in October 2017, registration is now being opened to all other interested parties.