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Shipping & Transport

19 June 2019
Morten Valen Eide Quiet enjoyment letters – benefit to lenders?

International - Wikborg Rein

Quiet enjoyment letters are often used where a ship, rig or other unit being financed is subject to a long-term charterparty to govern the interrelationship between the owner, its financiers and the charterer. They provide the charterer with a right to the undisturbed use and enjoyment of the ship, independent of whether the owner in its capacity as borrower is in default of its obligations towards its lender under the loan agreement. But do quiet enjoyment letters have any benefit for lenders?

Authors: Morten Valen Eide, Anne Celine Troye
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Peter Grima Irrevocable power of attorney as additional security

Malta - Fenech & Fenech Advocates

If an event of default occurs, a power of attorney executed by the mortgagor will allow the mortgagee to apply for the immediate closure of the vessel's Maltese register on the mortgagor's behalf and to pay all fees, make all declarations and receive all certificates, including the deletion certificate. While not essential for enforcement, registration of the irrevocable power of attorney is nevertheless an option for mortgagees and provides the added benefit of allowing for swifter enforcement in cases of default.

Author: Peter Grima
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Enare Erim Who is the official Receiver of Wrecks?

Nigeria - Akabogu & Associates

Wrecks pose a real danger to navigational safety and the marine environment and their expeditious removal, control and management is therefore a key concern. The issue of wreck control in Nigeria has been the subject of an increasingly fierce conflict between the Nigerian Inland Waterways Authority, the Nigerian Maritime Administration and Safety Agency and the Nigerian Ports Authority.

Author: Enare Erim
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Nina M Hanevold-Sandvik Norway prepares for ratification of Nairobi Wreck Removal Convention

Norway - Wikborg Rein

Parliament recently decided that Norway will ratify the Nairobi Wreck Removal Convention and that the convention will be given effect not only in Norway's exclusive economic zone, but also in its territorial waters. Parliament also adopted legislation to implement the convention into Norwegian law once ratified. The legislation will introduce a dual system where the national rules on wreck removal will continue to be in effect and the convention rules will be introduced as a parallel set of rules.

Authors: Nina M Hanevold-Sandvik, Herman Steen, Morten Lund Mathisen
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Stephan Erbe FDFA opens consultation procedure on CLNI 2012

Switzerland - ThomannFischer

The Federal Department of Foreign Affairs (FDFA) recently opened a consultation procedure on the Strasbourg Convention on the Limitation of Liability in Inland Navigation 2012 and its implementation (ie, an amendment to the Swiss Maritime Navigation Act). The FDFA's proposal has been welcomed and is considered a necessary step towards Switzerland ensuring a level playing field for the inland navigation industry.

Author: Stephan Erbe
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Recent updates

Costas Stamatiou New policy on registering vessels in Cyprus Register of Ships

Cyprus - Elias Neocleous & Co LLC

Authors: Costas Stamatiou, Vasileios Psyrras
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Chile - JJR Abogados

Author: Ricardo Rozas
Chris Grieveson Worldwide freezing orders upheld in multinational shipping fraud case

United Kingdom - Wikborg Rein

Authors: Chris Grieveson, Fiona Rafla
Victor Onyegbado Special tariff regime proposed for vessel acquisition

Nigeria - Akabogu & Associates

Author: Victor Onyegbado
Carsten Vyvers New terms and conditions for logistics providers

Germany - Arnecke Sibeth Dabelstein

Author: Carsten Vyvers
André Kegels New Maritime Code: what about arrest of sea-going ships?

Belgium - Kegels & Co

Author: André Kegels
Jesper Windahl Sign on the dotted line – importance of signing transport documents

Denmark - WSCO Advokatpartnerselskab

Authors: Jesper Windahl, Rósing Rasmussen
Godofredo Mendes Vianna Bill of lading limitation of liability clause accepted by Brazilian courts

Brazil - Kincaid | Mendes Vianna Advogados

Authors: Godofredo Mendes Vianna, Rodrigo Baptista Dalhe