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”).
The International Group is aware of an announcement by the maritime authorities in Turkey concerning proposed changes in requirements for laden oil tankers to evidence P&I cover while in Turkish waters.
The UK P&I Club recently held a webinar on the subject of Chemical Tanker Claims, the webinar was a great success with more than 1000 registrations from over 58 countries
In a decision that will provide reassurance to the tanker transhipment trade, the Court of Appeal ([2014] EWCA Civ 713) has considered the issue of whether Owners had acted unreasonably in withholding their consent for the use of two nominated VLCCs in a Ship to Ship (STS) transfer of crude oil from another VLCC at the port of Pasir Gudang.
