The Convention will enter into force for seventeen states on 23 April 2014.
This Risk Alert outlines the apparently expanding area of concern beyond the Gulf of Guinea and offers practical ways of mitigating the threat.
Both the European Union and the United States have recently announced the imposition of limited sanctions in respect of Ukraine.
Following the US/EU announcements (and publication of relevant regulations/guidance) of a six-month suspension of current sanctions measures relating to certain trade with Iran, including sanctions targeted at insurance arrangements as reported in the club circular issued on 19 January 2014 the International Group has been continuing engagement with the relevant US and EU regulators regarding the intended operation of the suspension of insurance sanctions.
This Circular addresses the anticipated changes in EU and US sanctions measures relating principally to transportation and insurance of oil, petroleum and petrochemical cargoes from Iran.
According to recent statistical information, the number of self-heating indicents arising while loading coal from ports in Kalimantan Province, Indonesia appears to have fallen. Consequently Members are no longer required to appoint a surveyor at the load port.
The Club has recently been advised by consulting scientists and engineers Dr. J H burgoyne and Partners (International) Limited that the number of indicents involving the self-heating of coal cargoes loaded in Kalimantan (Indonesian Borneo) is increasing.
The current EU and US Iran sanctions consist of a patchwork of legislative instruments. This patchwork nature makes it difficult to apply the laws to the carriage of a particular cargo.