The EU's formal Regulation implementing the enhanced sanctions against Iran proposed in January this year has now been issued.
The position of shipowners in respect of the ban on transport of Iranian crude, petroleum products and petro-chemical products is largely unchanged from the EU Decision of 23 January. However, the position of insurers and reinsurers has been relaxed somewhat in response to strong lobbying from the International Group of P&I Clubs (IG) over the past two months.
The new Regulation - No. 267/2012 of 23 March 2012 - has immediate effect and is binding on individuals and companies located within the EU, and worldwide on individuals of EU nationality and companies incorporated or registered in EU.
giving guidance on compliance with sanctions has also now been published.
Members are advised to ensure they have read the advice contained in the linked pages and to consult with their lawyers if uncertain as to whether they may lawfully perform an intended voyage or trade.
Any detailed enquiries regarding these sanctions and the operation of the Club or the cover it provides, please contact Nigel Carden (Tel: +44 20 7204 2147; Email:
In this, the third and final episode addressing BWM, the topic of Compliance Monitoring and Enforcement of the Ballast Water Management Convention is examined with Dr Guillaume Drillet from SGS.
Our Americas Members often deal with contracts of carriage subject to the US Carriage of Goods by Sea Act (“COGSA”) and the Harter Act, this article addresses some frequently asked questions.
