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
On 4 December 2022, the UK Government issued General Licence INT/2022/2469656 (“GL”) to implement the EU/G7 price cap in respect of Russian origin crude oil, which was amended on 3 February 2023 to implement the separate price cap in respect of petroleum products.
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.
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
The Club would like to draw Members' attention to the latest circular from Spark International, a correspondent in South Korea, relating to the updates to the South Korea Quarantine Regulation.
The Maritime Port Authority (MPA) of Singapore has issued Port Marine Circular No.22 which relates to the restrictions of flying unmanned aircraft over Singapore port waters as an increased number of these have been noticed.
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.
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”).
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.
Correspondent, Oasis P&I Services has issued the following circular relating to the route adjustment between Yantai port and Weihai port and the alert of fishery farms to the south of new route
On 19 September 2022, the EU amended its FAQs clarifying that the carriage of certain cargoes from Russia including coal and certain types of fertiliser (and related insurance) is not prohibited (under Council Regulation (EU) 833/2014) when the goods are being transported to non-EU countries
The Club would like to direct Members' attention to the latest circular from OASIS P&I, a local correspondent in China, relating to China's MSA notice for correction in respect of unidentified underwater objects off Fuzhou port and Ningde port.
The Club would like to draw Members' attention to the latest circular from OASIS P&I Services Limited, a local correspondent in China, relating to the announcement of special safety supervision to ships entering the controlled waters of Huangpu River of Shanghai from 21 Oct to 10 Nov 2022.
This circular provides details of the AGM of the Association which will take place in Dubai at 9:00am on 7th November 2022 and the arrangements for voting by proxy.
