Charterers Cover

The Club would like to draw Members' attention to the update below from the Club's Correspondents in Australia.

On 17 March 2022 the UK Government published a General Trade Licence in part to clarify earlier amendments to the UK Russia (Sanctions) (EU Exit) Regulations (the “Regulation”). Specifically, the licence addresses the issue as to whether it is lawful under the Regulation for insurers and reinsurers domiciled or operating from the United Kingdom to provide insurance for vessels calling at Russian ports or transiting Russian territorial waters.

The Court of Appeal has held that in the absence of clear words to the contrary, the holders of bills of lading will not be excluded from their liability to contribute to general average, where the peril suffered is already insured by the shipowner.

The Sea Cargo Charter ("the Charter") provides a global transparent framework and baseline for assessing and disclosing the climate alignment of chartering activities against the IMO's absolute target as set out in its Initial Strategy which is to reduce the shipping industry's total annual greenhouse gas ("GHG") emissions by at least 50% of 2008 levels by 2050