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Is payment of time charter hire a condition? The Astra reconsidered.

In Kuwait Rocks Co v AMB Bulkcarriers Inc (The Astra), Flaux J determined that the obligation to make punctual payment of hire under an amended NYPE time charter, whether on its own or in conjunction with an anti-technicality...more

Is payment of time charter hire a condition? “The Astra” re-considered

In Kuwait Rocks Co v AMB Bulkcarriers Inc (The Astra) (as reported in a previous post), the court determined that the obligation to make punctual payment of hire under the amended NYPE time charter in that case was a...more

Mainbrace: March 2015 No. 2

In this issue: - A Note from the Editor - Congress and Administration Take Cautious Approach to Crude Exports as Oil Prices Fall - Meet Blank Rome—Fairfield Sentry: Comity, Seller’s Remorse, and Chapter...more

Admiralty Law Institute Kicks Off in New Orleans

The Admiralty Law Institute runs from March 11-13 in New Orleans. March 11, 2015, marked the first day of the 25th Biennial Admiralty Law Institute. Held at Tulane University in New Orleans, the ALI is the oldest and largest...more

Eighteen Percentage Spread between Pre- and Post-Judgment Interest Rates Affirmed

The current post-judgment interest rate in federal court is the infinitesimally meager rate of 0.22% (that is 22 hundredths of a percent, not 22 percent) as per statute, 28 U.S.C. § 1961(a). ...more

First Circuit Recognizes Uberrimae Fidei In Admiralty Context

The First Circuit recently examined, in the admiralty context, the doctrine of uberrimae fidei, a legal doctrine requiring that all parties to an insurance contract deal in good faith and fully disclose all material facts....more

What is your broker up to? Broker found to have authority to enter into a fixture and guarantee

Mitsui OSK Lines Ltd v Salgaocar Mining Industries Private Ltd (2015) (Unreported) - After extensive negotiations, London brokers fixed a 10-year charterparty on behalf of their principals, the Charterers. The Charterers...more

Whistleblower Laws Increasingly Vital for Government Enforcement Efforts

In 2014, a crewman aboard a Japanese cargo ship videotaped the vessel illegally dumping oily waste into the ocean and later turned the tape over to the U.S. Coast Guard. One year later, the resulting $1.8 million penalty for...more

West Coast Ports Labor Turmoil - Time to Dust Off That Overlooked Force Majeure Clause?

The simmering labor dispute between the International Longshoreman and Warehouse Union and the Pacific Maritime Association, which represents West Coast port owners, has begun to capture the attention of businesses that have...more

Texas Supreme Court Rules Additional-Insured Coverage is Limited by Underlying Indemnification Agreement in In re Deepwater...

In a much anticipated 8-1 decision, the Texas Supreme Court ruled Friday that BP is not entitled to additional-insured coverage in In re Deepwater Horizon, No. 13-0670 (Feb. 13, 2015)....more

The $750 Million Comma? BP Is Not Entitled To Coverage For The Gulf Oil Spill As An Additional Insured Under Policies Issued To...

The Supreme Court of Texas ruled on February 13, 2015, that BP is not entitled to coverage as an additional insured under insurance policies Transocean procured for the Deepwater Horizon. ...more

$750,000,000 Missing Comma Comes Unhinged in BP’s Additional Insured Claim

Action Item: Courts must consider whether an insurance policy incorporates other documents and the extent thereof in evaluating the existence of additional insured coverage. Parties should evaluate the policy and underlying...more

What if the West Coast Ports Shut Down by Lockout or Strike? Is it Time to Invoke Taft-Hartley?

Since the expiration of a labor contract in July 2014, negotiations for a new contract have dragged on between management representatives of the Pacific Maritime Association (PMA)—a multi-employer bargaining association...more

Court of Justice of the European Union Rejects the Appeal of Italian National Extradited to the United States for Price-Fixing...

On February 9, the Court of Justice of the European Union made public its January 28, 2015 order rejecting the appeal of Mr. Romano Pisciotti, an Italian national who was extradited from Germany to the United States in April...more

“OCEAN VICTORY” – Court of Appeal Decision

In Gard Marine & Energy Ltd v China National Chartering Co Ltd (Rev 1) [2015] EWCA Civ 16, the Appellant sub-charterers appealed the 2013 judgment of Teare J....more

Major Changes to Cuban Assets Control and Export Regulations Create New Opportunities for Trade

Action Item: On January 16, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control and the U.S. Department of Commerce amended the Cuban Assets Control Regulations and the Export Administration...more

Commerce Department Issues New Guidance on Technical Crude Export Issues

Action Item: New policy guidance in the form of “Frequently Asked Questions” was published by the Commerce Department on December 20, 2014, with regard to crude oil export controls. Stakeholders interested in crude oil...more

Administration’s Proposed Seafood Traceability Program Could Impose New Requirements on U.S. Fishing and Seafood Industries

Domestic fish harvesters and seafood producers could face new federal mandates under a seafood traceability program being developed by the Obama Administration. Last month, the Administration announced the Recommendations of...more

Trade Sanctions Roundup: U.S. Closes Out 2014 with Major Actions on Cuba, Russia, and Syria

The end of 2014 has seen major developments in U.S. foreign relations and sanctions policy with broad implications for the maritime industry. On December 17, President Obama announced a paradigm shift in relations with Cuba,...more

LNG as a Fuel

The use of Liquefied Natural Gas (LNG) as a transportation fuel for ships, barges, and ferries has surged in recent months. This surge is due, in large part, to the boon in the production of natural gas in the U.S.; new low...more

OFAC Clarifies Treatment of Deferred Payments, Oil and Gas “Production,” and Artic Offshore Projects Under Russia Sanctions Regime...

On December 11, 2014, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) released new guidance related to existing U.S. sanctions against Russian entities designated on the Sectoral Sanctions...more

Legislation Alters Shipping Act Treatment of Attorneys’ Fees

Late yesterday, both the U.S. House of Representatives and the U.S. Senate passed S. 2444, the Howard Coble Coast Guard and Maritime Transportation Act of 2014....more

New York Federal Court Holds That Arbitrator’s Undisclosed Serious Health Condition Is Not Ground for Vacatur

There are several differences between court litigation and international arbitration, but two in particular stand out. First, whereas the losing party at trial can bring an appeal, the losing party in an arbitration can only...more

Calculating Title Insurance Claims: Reduction in Value vs. Insured Claim

First Am. Bank v. First Am. Transp. Title Ins. Co., 759 F.3d 427 (5th Cir. 2014) – After a mortgagor filed bankruptcy, a lender brought claims under a ship mortgage insurance title policy. The lender appealed the...more

FCPA Compliance and Ethics Report-Episode 102-interview with Bruce Carton [Video]

In this interview I visit with Bruce Carton, founder and editor of Securities Docket. We discuss the recently concluded 2014 Securities Enforcement Forum; its panels, discussions and vibe. ...more

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