Trading Operation Hot Topics

“OPEC is the oldest surviving intergovernmental organization composed wholly of developing countries.” Secretary General, Abdalla S. El-Badri, OPEC

As the impact of Covid-19 builds by the day, supply chains are being significantly disrupted and businesses' rights and obligations under contracts are coming into sharp focus. By: Faye Moore (Legal Director/ Pinsent Masons)

The global shipping industry will inevitably be affected as the virus spreads globally at an alarming speed. The World Health Organisation has now declared the outbreak a Public Health Emergency of International Concern. ..............

Incoterms - Trade Terms are key elements of international contracts of sale. They tell the parties what to do with respect to carriage of the goods from buyer to seller, and export & import clearance. They also explain the division of costs and risks between the parties.

Protection is required for the safe working of seafarers and ships, and indemnity is necessary to compensate for any loss of life, environment and property. P & I club is an association composed of ship owners members to support seafarers’ safety and well being by providing the required necessities.

Bill of lading is a receipt for goods either received (before shipment) or shipped on board cargo ship. It provides good evidence of the existence and terms of a contract between the shipper and carrier . (A contract of carriage may exist without issue of a bill of lading, however.) Problems may arise handling a bill of lading. Summarized below some basic procedures need to be followed by ship master .

Laytime disputes and demurrage claims under charter parties are the stable diet of shipping and maritime lawyers globally. The payments and receipts of monies as demurrage or post fixture claims being recognized well both by tanker owners and charterers not only as devices encouraging efficient usage of time in loading and discharging operations but also as hedges against fluctuating freight markets.

A bill of lading is a document that details a shipment of goods, which is picked up by a carrier from a shipper......

The International Chamber of Commerce (“ICC”) has announced the publication of Incoterms 2020. This is the first update to Incoterms since they were last revised in 2010. The new rules become effective from 1 January 2020.

Hedging is the practice of strategically opening new positions to protect existing positions from unpredictable market movements.