Bharat Book Bureau

Modern Maritime Law and Risk Management, 2nd Edition

Description

Modern Maritime Law and Risk Management, 2nd Edition provides a comprehensive coverage of contemporary international admiralty and maritime law in an easily accessible style. It brings together substantive law, jurisdictional issues and international aspects of maritime liabilities and compensation with a practical discussion of modern risk management.

The book is an essential guide for marine lawyers worldwide, students, shipowners, ship managers, salvors, shipbrokers, mortgagees, P & I Clubs, shipbuilders, port authorities, classification societies, regulators and other shipping and risk management professionals.

With a wealth of information covered, the book is helpfully divided into four parts – Admiralty Jurisdiction and Procedure; Substantive Law; International Conventions; and Safety at Sea.

Just some of the many topics covered in Modern Maritime Law and Risk Management are:

• Case summaries illustrating principles of common law, equity, statutes, EU Directives and International Conventions.

• The latest EU and international safety and security measures.

• Admiralty jurisdiction and arrest of ships.

• Anti•suit injunctions and arbitration issues.

• The role of classification societies and flag states.

• The ISM Code and liabilities arising from the unseaworthiness of ships.

• Civil and criminal liabilities of shipowners and ship managers with risk management considerations, including criminalisation for ship•source pollution.

• Shipbuilding, sale and purchase of second•hand ships, mortgagees’ rights and duties.

• Towage contracts and salvage law, including principles of general average.

• Port duties, rights and liabilities and the Wreck Removal Convention 2007.

• Limitation of liability and jurisdictional issues regarding forum•shopping.

• The Athens Convention 2002 and passengers rights.

• Marine pollution law, liabilities for damage by hazardous, noxious substances, nuclear incidents, and the compensation regimes (contributed by Elizabeth Blackburn QC).

• A discussion of the West Tankers case which raises important issues surrounding arbitration and jurisdiction.

Table of Contents:

Foreword to the First Edition by Lord Mustill vii
Foreword to the Second Edition by The Rt Hon Sir Anthony Clarke, MR ix
Preface xi
List of Abbreviations xv
Table of Cases xxxix
Table of Statutes lxv
Table of Statutory Instruments lxxiii
Table of European Legislation lxxvi
Table of European Directives lxxvii
Table of European Regulations lxxviii
Table of International Legislation lxxix

PART I ADMIRALTY JURISDICTION AND PROCEDURE

INTRODUCTION 3
1 INTRODUCTORY ELEMENTS 5
1 The jurisdiction of the Admiralty Court – Historical overview 5
2 Admiralty jurisdiction at the present time 8
3 Foreign aspects and extent of admiralty jurisdiction 9
4 The civil law and common law approaches 10
5 Unique aspects of the admiralty jurisdiction 10
6 The Admiralty Court 12
7 Limits of exercise of admiralty jurisdiction 13
8 What is a ship? 13
8.1 Why is it important to define it? 14
8.2 Old definition 14
8.3 Modern definitions 15

2 NATURE OF THE ADMIRALTY JURISDICTION 21
1 Introduction 21
2 Maritime liens contrasted with other statutory rights in rem 22
3 Maritime claims under s 20(2) of the SCA 1981 25
3.1 Any claim to the possession or ownership of a ship or to the ownership of a share therein (s 20(2)(a)) 25
3.2 Any question arising between the co-owners of a ship as to possession, employment or earnings of that ship (s 20(2)(b)) 27
3.3 Any claim in respect of a mortgage of or a charge on a ship or any share therein (s 20(2)(c)) 28
3.4 Any claim for damage received by a ship (s 20(2)(d)) 30
3.5 Any claim for damage done by a ship (s 20(2)(e)) 30
3.6 Any claim for loss of life, personal injury . . . (s 20(2)(f)) 33
3.7 Any claim for loss of or damage to goods carried on a ship (s 20(2)(g)) 42
3.8 Any claim arising out of an agreement relating to the carriage of goods on a ship or to the use or hire of a ship (s 20(2)(h)) 42
3.9 Any claim for salvage services (s 20(2)(j)) 51
3.10 Any claim in the nature of towage in respect of a ship or aircraft (s 20(2)(k)) 51
3.11 Any claim in the nature of pilotage in respect of a ship or an aircraft (s 20(2)(l)) 51
3.12 Any claim in respect of goods or materials supplied to a ship for her operations or maintenance (s 20(2)(m)) 52
3.13 Any claim in respect of the construction, repair or equipment of a ship or dock charges or dues (s 20(2)(n)) 53
3.14 Any claim by master or crew of a ship for wages (s 20(2)(o)) 54
3.15 Any claim by a master, shipper, charterer or agent in respect of disbursements on account of a ship (s 20(2)(p)) 59
3.16 Any claim arising out of an act which is claimed to be a general average act (s 20(2)(q)) 61
3.17 Any claim arising out of bottomry (s 20(2)(r)) 61
3.18 Any claim for the forfeiture or condemnation of a ship or for the restoration of a ship or goods after seizure or for droits of admiralty (s 20(2)(s)) 62
4 Further jurisdiction of the admiralty Court is given by s 20(1)(b) and (3) 62
5 Power of the court to grant injunctions 63

3 MODE OF EXERCISE OF JURISDICTION 69
1 Introduction 69
2 Claims in personam – s 21(1) of the Supreme Court Act 1981 70
3 The in rem claim (or the old action in rem) 71
3.1 The origins of non-truly in rem claims 71
3.2 Functions of the in rem proceedings 71
3.3 Who is the defendant in the in rem proceedings? 77
3.4 Nature and features of the in rem claim prior to The Indian Grace (No 2) 79
3.5 The nature of the in rem claim after The Indian Grace (No 2) 79
3.6 Extent to which the features of the in rem action are affected by The Indian Grace 91
3.7 Conclusion 93
4 The relevant conditions of bringing in rem claims 94
4.1 No conditions are required to enforce truly in rem claims 94
4.2 Conditions for enforcement of non-truly in rem claims 94
5 Property against which an in rem claim may be brought 113

4 PROCEDURE (OVERVIEW) 115
1 Issue of the in rem claim form, service and arrest 115
1.1 Issue 115
1.2 Effect of issue 116
1.3 Service of the in rem claim form 116
1.4 Arrest by issue and execution of a warrant 117
2 The aftermath of arrest 118
2.1 Rights of third parties 118
2.2 Provision of security for the claim and release from arrest 119
2.3 Release in particular circumstances 120
2.4 Wrongful arrest 121
2.5 Can there be a re-arrest? 124
2.6 Appraisement and sale by the court 130
3 Competition of claims brought in Admiralty and Company Courts 134
4 Priorities in payment of claims out of the court fund 135
4.1 Statutory powers of port authorities for detention and sale 136
4.2 The ship-repairers’ lien and risk management 140
5 Distribution of the court fund by the court 142
6 Applicable law to maritime liens and conflict of laws 145
7 Extinction of maritime liens and transferability 149
7.1 Extinction 149
7.2 Transferability by assignment 149
7.3 Can a maritime lien be transferred by voluntary payment of the claim? 151

5 RULES AND DOCTRINES RESTRICTING THE JURISDICTION OF THE ADMIRALTY COURT TO ADJUDICATE ON THE MERITS OF A CASE 153
1 Introduction 153
2 Jurisdiction bases 153
3 Occasions when jurisdiction may not be exercised or maintained 154
3.1 Discontinuance of proceedings on ground of time bars 154
3.2 No assumption of jurisdiction if a claim in personam is not within Ord 11 (CPR Pt 6, Section III) 158
3.3 Stay on the ground of forum non-conveniens 159
3.4 Stay on the ground of a foreign jurisdiction agreement 177
3.5 Stay on the ground of an arbitration agreement 189

6 CONVENTION JURISDICTION BASES AND MULTIPLE PROCEEDINGS 195
1 Introduction 195
1.1 The Athens Convention 1974 195
1.2 The Convention relating to Contracts for International Carriage of Goods by Road 1956 (CMR) 195
1.3 The International Convention on Civil Liability for Oil Pollution Damage 1992 196
1.4 The International Convention Relating to the Arrest of Seagoing Ships 1952 196
1.5 The International Convention on Civil Jurisdiction in Matters of Collisions at sea 1952 196
1.6 The European jurisdiction regime in civil and commercial matters 197
2 Council Regulation (EC) 44/2001 199
2.1 Application 199
2.2 The domicile rule and allocation of jurisdiction 200
2.3 Mandatory versus optional derogation from the domicile rule 201
2.4 Inapplicability of certain national jurisdictional rules 203
2.5 Interpretation of concepts 204
2.6 Multiple proceedings within Member States: lis pendens and related actions 205
3 Permitted jurisdiction under international conventions and in rem proceedings 216
3.1 Delegation of jurisdiction to other Conventions by Art 71 of the Regulation 217
3.2 Return to Regulation jurisdiction by operation of Art 27 224
4 Principles of forum non-conveniens and the Regulation 225
4.1 Defendant domiciled in a Member State; natural forum in a non-Member State 225
4.2 Defendant not domiciled in a Member State; proceedings are brought in two Member States 228
4.3 Defendant not domiciled in a Member State; natural forum in a Member State; competing courts in Member States 230
4.4 Limitation of liability actions; defendant not domiciled in a Member State 232
4.5 Natural forum is in a non-Member State 233
5 Jurisdiction agreements under Art 23 234
5.1 Interpretation of Art 23 234
5.2 Lis pendens and jurisdiction agreements 237
5.3 Resolving conflict between jurisdiction basis conferred by Art
71 and the jurisdiction of Art 23 238
6 Recognition and enforcement of judgments 240

7 ANTI-SUIT INJUNCTIONS 243
1 Introduction 243
2 Prohibition of anti-suit injunctions within the European Union 246
2.1 Allocation of jurisdiction by the rules of the Brussels regime 246
2.2 Allocation of jurisdiction by another Convention and anti-suit injunctions 248
3 Anti-suit injunctions outside the scope of the Regulation 249
3.1 The ‘breach of contract cases’ 250
3.2 The ‘non-contract cases’ and anti-suit injunctions 263
3.3 Mixture of ‘breach of contract’ and ‘non-contract’ cases 267
3.4 Common considerations used in both contract and non-contract categories 268
3.5 Practical considerations and risk management 270
3.6 Conclusion 271

PART II SUBSTANTIVE LAW

OVERVIEW 275
8 OWNERSHIP AND MANAGEMENT OF SHIPS; THE INTERNATIONAL SAFETY MANAGEMENT CODE AND LEGAL IMPLICATIONS 277

1 Introduction 277
1.1 Importance and role of the ship’s flag 277
1.2 Flags of convenience 278
1.3 The regulatory regime 279

2 Statutory overview of ownership and registration of British ships 290
2.1 The effect of the Merchant Shipping Acts prior to 1995 290
2.2 Who can own and register a British ship under the present statute? 292
2.3 The effect of the reform upon British ship-ownership 294

3 Ownership principles 295

4 Management of ships 299
4.1 General overview 299
4.2 The framework of management of ships 300
4.3 Authority of ship managers and the ISM Code 302
4.4 Duties arising from the management agreement and statute 306
4.5 Consequences of breach of contract by the manager and exclusion or limitation of liability 308
4.6 Indemnity and ‘Himalaya’ clauses 309
4.7 Insurance and risk management 310
4.8 Safety aspects and the manager’s obligations under the ISM Code 312

5 Legal implications of the ISM Code and risk management 314
5.1 General definition, objectives and requirements for safety under Part A of the Code 314
5.2 Specific provisions of the Code under Part A 315
5.3 Certification and verification under Part B of the Code 318
5.4 Effect of non-compliance and risk management 321
5.5 The rules of attribution of liability 322
5.6 The due diligence provision of the HVR and the role of the ISM Code 325
5.7 Privity of the assured under s 39(5) of the MIA 1906 and the role
of the ISM Code 328
5.8 Limitation of liability and the role of the ISM Code 333
5.9 Resume of the relevance of the ISM Code and the role of the DP 337
5.10 Criminal liability and the role of the ISM Code 338

9 THE LAW OF SHIP MORTGAGES 359

1 Introduction 359

2 What is the nature of a ship mortgage in English law? 360
2.1 The property transfer theory 360
2.2 The theory of a statutory nature of a ship mortgage perfected by
registration 363
2.3 The property subject to the mortgage 365

3 Effect of the statutory scheme of registration 365

4 Unregistered ships and status of an unregistered mortgage 368

5 Comparison of a ship mortgage with other types of security 369
5.1 Charge 369
5.2 Pledge 370
5.3 Common law possessory lien 371

6 Priorities of mortgages 371
6.1 Priorities between mortgages 371
6.2 Further advances 373
6.3 Harbour authority claims and risk management by the mortgagee 374

7 Conflict of laws 375
7.1 Law governing the mortgage and law of the agreement to grant
a mortgage 375
7.2 Priorities between foreign liens and mortgages 376
7.3 Proposed solutions and risk management issues 381

8 Obligations and rights of the mortgagor 382
8.1 The mortgagor is bound by contractual covenants 382
8.2 The mortgagor’s statutory obligations 384
8.3 The mortgagor’s right of ownership of the mortgaged ship 385
8.4 The mortgagor’s right to redeem the ship 386

9 Mortgagee’s rights and obligations 390
9.1 The right to take possession 390
9.2 Mode of exercising his powers 393
9.3 Mortgagee’s rights and obligations in possession 393
9.4 Power of sale 396
9.5 Appointment of a receiver 403
9.6 Foreclosure 404

10 Effect of mortgagee’s exercise of rights upon third parties 404
10.1 The issues 404
10.2 A post-mortgage charterparty: the impairment factor 405
10.3 A pre-mortgage charterparty: the knowledge factor 408
10.4 Exception to the De Mattos principle 410
10.5 Sale of the ship under charter and the issue of knowledge 412
10.6 The tort of wrongful interference with a contract 414
10.7 Conclusion 416

11 Risk management and insurance issues of the mortgagee 416

10 SHIPBUILDING CONTRACTS 419

1 Introduction 419
2 Nature of shipbuilding contracts 420
3 Pre-contract stage 424
4 Significance of representations during negotiations 425
5 The making of a shipbuilding contract and risk management 426
6 The framework of the contract 429
7 Types of contractual terms 430
7.1 General 430
7.2 Implied terms under the SOGA 1979 431
7.3 Exclusion clauses and the Unfair Contract Terms Act 1977 438
8 The specification 439
9 Increase in price 440
9.1 Lack of consideration and risk management 440
9.2 Economic duress and risk management 442
10 Basic rights and obligations of the parties 444
10.1 Payment, transfer of title and protection of the builder in the event of non-payment 444
10.2 Builder’s guarantee, trials and risk management 453
10.3 Default by builder – the buyer’s right to reject the ship or rescind the contract 455
10.4 Delay in delivery and force majeure 457
10.5 Effect of buyer’s rescission for builder’s default; imbalance of
remedies 459
10.6 Can specific performance be ordered? 460
11 Insurance and management of risks 461
12 Manufacturer’s or builder’s liability to third parties for defective products 462
11 SHIP SALE AND PURCHASE CONTRACTS 467
1 Introduction 467

SECTION A: THE NEGOTIATIONS AND CONTRACT STAGE 468
2 The making of the contract and good faith 468

3 The parties’ obligation to avoid misrepresentations 470
3.1 Untrue statements forming express terms of the contract 470
3.2 Mere representation inducing the contract 471
3.3 Brokers’ role and risk management 472

4 On the making of a binding contract and risk management 474
4.1 Express your intention clearly 474
4.2 The effect of non-signing a formal document upon the validity of the contract 476
4.3 The effect of ‘buyer to be nominated’ on the validity of the contract 477
4.4 What do ‘subjects’ mean? 479

5 Classification of terms of a contract and their importance 485
5.1 At common law 485
5.2 Under the Sale of Goods Act 1979 486

6 Contractual terms under standard forms of the sale contract 488
6.1 When is the deposit payable? 488
SECTION B: THE INSPECTIONS STAGE 490
6.2 Inspections by the buyer 490
SECTION C: THE COMPLETION STAGE 491
6.3 Inspection by classification society (drydocking) 491
6.4 Notice of readiness and risk management 493
6.5 Essential documentation for exchange at delivery 496
6.6 Sellers’ obligations under clause 9 497
6.7 Condition of vessel on delivery and risk management 502
6.8 The closing meeting 506
6.9 Post-delivery matters 507

7 The parties’ respective remedies for default 507
7.1 Buyer’s default 507
7.2 Seller’s default 509
7.3 Causation and remoteness of loss 510
7.4 Mitigation of loss by the buyer 513
7.5 Currency of loss 513

8 Legal and commercial risk management for the buyer 515
8.1 Considerations before exercising the option to reject the ship 515
8.2 Considerations before applying for a freezing injunction against the purchase money 515

9 Civil liability of classification societies to buyers and other third parties 522

12 COLLISIONS AT SEA AND LIABILITIES 533

Introduction 533

SECTION A 533
1 The Collision Regulations and their application 533
1.1 Origins of the Regulations 533
1.2 Statutory presumption of fault and its subsequent abolition 534
1.3 The law and regulations at present 535
1.4 Ships being subject to the Collision Regulations 535
1.5 Definition of vessel and ship 536
1.6 Types of Collision Regulations 538

SECTION B 549
2 Criminal liability 549
2.1 General 549
2.2 Statutory offences under the MSA 1995 550
2.3 Involuntary manslaughter for breach of duty 557

SECTION C 559
3 Civil liability 559
3.1 Introduction 559
3.2 Who may be liable? 561
3.3 Breach of the duty of care 569
3.4 Causation in fact 573
3.5 Causation in law 576
3.6 Defences available to the defendant 577
3.7 The proportionate fault rule 587
3.8 Claims for loss of life and personal injury 596
3.9 Contrast claims in relation to cargo damage 597
3.10 Contribution between joint tortfeasors 601
3.11 Damages and the rule of remoteness of damage 602
3.12 Assessment of damages 618
4 Limitation of liability 629
5 Limitation periods for commencement of claims 630
6 Insurance issues and risks arising from collisions 630

13 THE LAW OF SALVAGE 633
1 Introduction 633
2 The concept of salvage under maritime law 634
3 Salvage under contract 635
4 The Salvage Conventions 636
4.1 Historical development of the revision of salvage law 636
4.2 Application of the 1989 Convention 639
5 Preconditions of salvage 640
5.1 The relevant waters for salvage prior to the Salvage Convention 1989 640
5.2 ‘Relevant waters’ under the Salvage Convention 1989 642
5.3 What is a recognised subject of salvage? 643
6 Elements of salvage 647
6.1 Danger 647
6.2 Voluntary services 652
6.3 Success 665
7 Salvage agreements 668
7.1 General 668
7.2 Court’s intervention 669
8 The Master’s authority to enter into salvage agreements 674
8.1 Master’s authority at common law 674
8.2 Master’s authority under the Convention 683
9 Duties and conduct of salvors 683
9.1 Best endeavours 684
9.2 Due care 685
9.3 Negligence occurring before salvage services were rendered 696
10 The position of several salvors 697
10.1 Dispossession of one salvor by another under maritime law salvage 697
10.2 Dismissal of a salvor under contract by the master of the vessel being salved 698
10.3 The position of several salvors under the Salvage Convention 1989 700
11 Duties of the owner of the property in danger 701
11.1 Duty to co-operate 701
11.2 Obligation to provide security to salvors 702
12 Assessment of the award and special compensation 703
12.1 The criteria for assessing the salvage award and special compensation 704
12.2 The decision in The Nagasaki Spirit 706
12.3 Article 14 does not provide for environmental salvage 707
13 Problems arising from the drafting of Art 14 of the Convention 708
13.1 Territorial limits 709
13.2 Substantial physical damage 709
13.3 Threatened damage 710
13.4 Fair rate 710
13.5 The increment 711
13.6 Security for special compensation 711
14 The solution provided by the SCOPIC 711
14.1 The initiative 711
14.2 The sub-clauses 712
15 Government intervention 715
15.1 The SOSREP 715
15.2 Places of refuge 717
16 LOF 2000 overview 719
17 Apportionment and payment 720
18 Jurisdiction 721
19 Time limits 722

14 TOWAGE CONTRACTS 723
1 Introduction 723
2 Definitions 723
3 Towage versus salvage 724
4 The making of a binding contract 728
4.1 Authority of the master to bind the shipowners 728
4.2 Authority of the master to bind the cargo-owners 730
4.3 Authority of the tugmaster 731
4.4 Pre-contractual duties 733
4.5 Unfair contract terms 735
5 Commencement of towage, interruption and termination 735
5.1 Commencement 735
5.2 Interruption of towing 739
5.3 Termination of towing 741
6 Duties of the tugowner 741
6.1 Fitness of the tug for the purpose for which she is required 741
6.2 The position of fitness when a specific tug is requested 749
6.3 To use best endeavours to complete the towage 753
6.4 The duty to exercise proper skill and diligence throughout 754
7 Duties of the tow 755
7.1 Duty to specify what is required and to disclose the condition of the tow 755
7.2 The condition of the tow 756
7.3 Duty to exercise due care and skill during the towage 757
7.4 To pay remuneration to the tug 757
8 Relationship between tug and tow and their liabilities to third parties 758
8.1 Tug and tow 758
8.2 Tug, tow and third parties 759
9 Exclusion from liability and indemnity clauses (risk management issues) 769
9.1 The ambit of the exception from liability clauses 770
9.2 Indemnity clause 773
9.3 Limitations to exclusion and indemnity clauses 775
10 The substitution and Himalaya clause of the UKSTC 780
10.1 Substitution of tugs, authority to subcontract and transfer of benefits 780
10.2 The Himalaya provision and the Contracts (Rights of Third Parties) Act 1999 781
11 Limitation of liability 784

15 PRINCIPLES OF GENERAL AVERAGE 787
1 Introduction 787
1.1 The York-Antwerp Rules (YAR) 788
1.2 Definition 791
1.3 Authority to act in general average 792
2 Conditions giving rise to general average 793
2.1 Danger or peril to the common adventure 794
2.2 Extraordinary expenditure or sacrifice 796
2.3 Voluntary, or intentionally and reasonably made 797
2.4 To preserve property imperilled 799
3 Causation in general average and fault 799
4 When there will be no liability to contribute 800
5 The cause of action for general average contribution and time limit 802
6 Security 803

16 THE LAW OF HARBOURS AND PILOTAGE 805
Introduction 805
SECTION A: ASPECTS OF LAW AFFECTING HARBOURS 807
1 Sources of powers and definitions 807
1.1 Statutes and regulations regulating harbours’ powers 807
1.2 Definitions 808
2 Types of harbour authorities 809
3 Powers, duties and liabilities of harbour authorities 810
3.1 Powers of harbour authorities 810
3.2 Duties of harbour authorities in a risk management era 811
4 Liability of shipowners for damage caused to harbours 827
5 Harbour dues 837
SECTION B: PILOTAGE LAW 837
1 Introduction 837
2 Duties of a competent harbour authority in relation to pilotage 839
2.1 Provision of pilotage service 839
2.2 Authorisation of pilots 840
3 Charges by the competent harbour authority 841
4 Duties of masters and pilots in a compulsory pilotage area 842
5 Pilot’s authority and division of control between master and pilot 843
6 Liability of a pilot 845
7 Liability of harbour authorities with respect to pilotage 846
8 Liability of the shipowner for negligence of the pilot 847
SECTION C: THE WRECK REMOVAL CONVENTION (WRC) 2007 855
1 Introduction 855
2 Fundamental provisions 856

PART III INTERNATIONAL CONVENTIONS ON CIVIL LIABILITY LIMITATION AND COMPENSATION OVERVIEW 861

17 LIMITATION OF LIABILITY FOR MARITIME CLAIMS 863
1 Introduction 863
2 The scope of tonnage limitation of liability under the 1976 Convention 865
2.1 Reasons of acceptance of the 1976 Convention 865
2.2 Application of the Convention and limitations 866
3 Persons entitled to limit 867
3.1 Shipowners and others 868
3.2 Salvors 872
3.3 The liability insurer 873
3.4 Harbour authorities 876
4 Claims subject to limitation 877
4.1 All claims whether for damages or for a debt or indemnity (Art 2(1), (2)) 877
4.2 Claims occurring on board or in direct connection with the operation of the ship or with salvage operations (Art 2(1)(a)) 878
4.3 Claims for loss resulting from delay (Art 2(1)(b)) 882
4.4 Claims for rights which have been infringed (Art 2(1)(c)) 882
4.5 Cost incurred for wreck removal imposed by law (not being incurred contractually) (Art 2(1)(d), (e)) 882
4.6 Claims in respect of measures taken in order to avert or minimise loss (Art 2(1)(f)) 884
5 Claims excepted from limitation (Art 3(a)–(e)) 884
5.1 Salvage and contribution in general average claims 884
5.2 Claims for oil pollution (dealt with by special legislation) 885
5.3 Nuclear damage claims 886
5.4 Claims by the master and crew against employers 886
6 Exclusion of total liability 886
7 Conduct barring limitation or exclusion of liability 888
7.1 The test barring limitation under the 1957 and 1976
Conventions (comparison) 889
8 Corporate personality and whose misconduct should be attributed
to the company 904
8.1 The concept of the ‘alter ego’ of a corporation 905
8.2 The ‘identification’ doctrine 907
8.3 The ‘Meridian rule of attribution’ by interpretation of the
substantive rule of law 911
8.4 The effect of the ISM Code on limitation and risk management 913
9 Establishment of the limitation fund 916
9.1 Procedural matters under the Convention 916
9.2 Counterclaims 919
9.3 Amount of limitation 920
9.4 Procedure in the Admiralty Court in relation to limitation (brief account) 921

18 PASSENGERS’ CLAIMS AND LIMITATION OF LIABILITY 923
1 Introduction 923
2 The Athens Convention 1974 outlined 924
2.1 Application and scope 924
2.2 Definition of ship 924
2.3 Persons liable 925
2.4 Limits of liability 926
2.5 Carriage of valuables 928
2.6 Contributory negligence 928
2.7 Liability arising through negligence of servants or agents of the carrier 928
2.8 Time limit 928
2.9 Jurisdiction 929
2.10 Contracts of travel or holiday through travel agents 930
3 Relationship with the Limitation Convention 1976 932
3.1 The 1996 Protocol to the 1976 Limitation Convention and implementation in the UK 932
4 The 2002 Protocol to the Athens Convention 934
4.1 The two-tier system of liability (strict and fault-based) 934
4.2 Financial security (compulsory insurance and direct action) 936
4.3 Limits of liability 937
4.4 Comparison of the limits between the Athens Conventions 1974 and 2002 938
4.5 The implications of the 2002 Protocol in case of bankruptcy of the owner 939
4.6 Time limit for claims and jurisdiction 940
4.7 Invalidity of contractual provisions 941
4.8 Tacit acceptance procedure 941
4.9 Competence of regional organisations 942
4.10 Industry concerns and solutions 942

19 CIVIL LIABILITY FOR MARINE POLLUTION, DAMAGE BY HAZARDOUS/NOXIOUS SUBSTANCES, NUCLEAR INCIDENTS AND COMPENSATION 947
1 International Conventions concerned with pollution 947
1.1 UNCLOS: the Protection and Preservation of the Marine Environment 947
1.2 Other key International Conventions concerned with pollution 949
1.3 The system in the United States 952
2 The International Oil Pollution Compensation Regimes 952
2.1 Introduction 952
2.2 Information on Contracting States 954
2.3 The relevant UK legislation 954
2.4 The 1992 CLC regime 955
2.5 The 1992 Fund Convention 968
2.6 The 2003 Supplementary Fund Protocol 971
3 Further developments: STOPIA and TOPIA 975
4 Section 154 of the Merchant Shipping Act 1995 977
5 Common law 977
6 TOVALOP and CRISTAL 977
7 Future developments 978
7.1 The Bunker Oil Pollution Damage Convention 2001 978
7.2 The Hazardous and Noxious Substances Convention 1996 980
8 Other provisions of the Merchant Shipping Act 1995 relevant to oil spills 984
9 Nuclear damage Conventions 985
9.1 Introduction 985
9.2 The Paris Convention 986
9.3 The 1963 Supplementary Convention 989
9.4 Limitation of liability 990
9.5 The UK legislation 990
9.6 The 1971 Convention relating to Civil Liability in the Field of Maritime Carriage of Nuclear Material 990

PART IV SAFETY AT SEA

OVERVIEW 993
20 EU LEGISLATION IN MARITIME SAFETY AND PARALLEL IMO
DEVELOPMENTS 995
1 Introduction 995
1.1 Safety measures with regard to non-tanker vessels 996
1.2 General safety measures 996
2 Erika I measures 997
2.1 Directive 2001/105/EC on inspections of ships (amending
Directive 94/57/EC) 998
2.2 Phasing out single-hull tankers 1000
2.3 Directive amending Port State Control (PSC) 1002
3 Erika II measures 1003
3.1 Directive 2002/59/EC for a Community monitoring, control
and information system (CMCIS) 1004
3.2 The European Maritime Safety Agency 1005
3.3 Compensation fund for oil pollution damage 1006
4 Follow-up work 1007
4.1 The establishment of a Committee on Safe Seas and the
Prevention of Pollution from Ships 1007
4.2 The Criminalisation Directive on ship-source pollution 1007
5 Erika III measures 1012
5.1 Conformity requirements of flag States 1012
5.2 Classification societies 1013
5.3 Port State Control (PSC) 1013
5.4 Accident investigation 1013
5.5 Passengers’ compensation 1013
5.6 Civil liability and financial guarantees for damage done by ships 1013
5.7 Places of refuge 1014
6 Conclusion 1016

EPILOGUE
RISK MANAGEMENT CULTURE AND COLLECTIVE RESPONSIBILITY 1017
1 Introduction 1017
1.1 What is a risk? 1017
1.2 What is risk management? 1018
1.3 What is risk exposure? 1018
1.4 What is risk profile? 1019
1.5 What is risk tolerance? 1020
1.6 What is safety culture? 1020
2 Understanding infrastructures of shipping companies 1020
2.1 Internal infrastructures 1021
2.2 Relational infrastructures 1022
2.3 External infrastructures 1023
3 Collective responsibility and commitment 1025
3.1 Risk management standards for risk control 1026
3.2 The stages of risk management 1026
3.3 Enhancing safety culture through collective responsibility and commitment 1031
Index 1035

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Global Cement Trade & Shipping - Future Outlook to 2015

The world cement trade and shipping sector is a complex combination of a wide variety of regular movements and sporadic short-term opportunistic shipments. A high volume of trade represents movements between companies under the umbrella of the same multinational cement group, whilst independent cement traders are still a major factor determining price levels and patterns of trade.
Construction booms and downturns can alter the regional cement trade profile dramatically – as witnessed in recent years in many of the world’s leading markets. Similarly, the rush to build new production capacity to meet future demand can make significant volumes of cement and/or clinker available for export, with the location of the plant and inland logistics determining the economic feasibility of overseas shipments.

A further layer of complexity is imposed by the variability of shipping costs – bulk carrier freight rates are determined by factors outside the cement sector, but they can radically alter the cost competitiveness of supplies from one country in a variety of world markets. The volatility of shipping costs – as witnessed over the past 4 years – therefore provides an extra layer of uncertainty for the future prospects of trade patterns and volumes.

Global Cement Trade & Shipping - Future Outlook to 2015 examines in detail the recent development of cement trade patterns and volumes, and provides an insight into the likely future outlook over the period to 2015. This is based not only on the cement production/consumption outlook for individual markets throughout the world, and therefore the implications for import requirements and export availability, but also on the likely future development of the specialist cement carrier fleet and the general bulk carrier sector. With extensive development ahead for the sizes of bulk carrier of most relevance to the cement sector, the outlook for cement shipping via this mode is highly uncertain, especially given the extent of market uncertainty over the future path for shipping freight rates.

For the specialist cement carrier sector, Global Cement Trade & Shipping - Future Outlook to 2015 includes a highly detailed set of analyses of the current fleet, and an examination of the likely forward development, based on the age profile and trends in new vessel ordering.

Global Cement Trade & Shipping - Future Outlook to 2015 provides invaluable independent analysis on the development of cement shipping and trade throughout the world in the period to 2015. It represents the most up-todate and comprehensive examination of the trade and shipping of cement ever published, and is essential reading for all parties with an interest in this sector.

Table of Contents :-
SECTION 1 INTRODUCTION & EXECUTIVE SUMMARY
Includes an overview of the Report’s structure, as well as a summary of the methodology underlying the analyses.
This Section also includes a summary of the most significant points and conclusions drawn from the main body of the Report. They are presented in the order of the corresponding Sections for ease of reference.

SECTION 2 OVERVIEW : WORLD CEMENT TRADE 1970-2005
This Section provides detailed analysis of the key developments in world cement and clinker trade over the past 35 years, with most emphasis on the recent years of extensive trade volume and structure development. Attention is focussed on the main factors underlying trade developments, and the importance of seaborne shipments within the trade aggregate.

SECTION 3 EUROPE
Imports and exports by European countries dominate world trade, although a large part of the European trade total comprises inland movements between neighbouring countries. This Section includes full discussion and analysis of regional trade volumes and patterns, as well as examination of the trade profile in recent years for key import markets and export sources.
The Section is sub-divided into:
3.1 Overview
3.2 The European Union
3.3 Other Europe

SECTION 4 THE AMERICAS
The US cement market has been the world’s leading destination for cement & clinker exports in recent years, as cement consumption levels have far exceeded domestic capacity. Whilst there has been an import level fall in recent years, there is now a resurgence in import levels as demand continues to expand – this Section examines the scale and structure of US import demand, and examines the main sources of supply for the US market.
Latin America includes a number of traditional cement exporters to world markets. Export availability has varied of late, according to the scale of domestic cement consumption growth, but there continue to be a number of significant trade flows from Central & South American countries, mainly within the region but also to more distant markets. Import penetration among the leading cement markets is varied, but has changed in recent years. This Section includes in-depth appraisal of recent/current developments for imports & exports for all the main markets and suppliers in the region.
4.1 North America
4.2 Central & South America.

SECTION 5 AFRICA & THE MIDDLE EAST
Africa includes a number of import-dependent markets, both in terms of finished cement and clinker for grinding operations. Large-scale capacity expansion has seen import requirements decline and export availability emerge in recent years in key markets, with an associated radical change in the pattern of trade flows.
Similarly in the Middle East, capacity expansion has funded export growth for certain States, whilst ever-expanding domestic cement consumption and the aftermath of conflict in the region has prompted large-scale imports in others. The result is a complex evolving trade structure.
For each of these regions, the overall regional profile at the current time and over recent years is examined and discussed, before detailed individual country analyses are presented for the key import markets and exporting countries.
5.1 Africa
5.2 Middle East

SECTION 6 EAST ASIA
The traditional major roles played by Japan and South Korea in Asia and Pacific markets have been supplanted in recent years by the sheer scale of expansion of exports from China. Whilst these have been largely destined for trans-Pacific or intra-Asia movements, supplies from China and the region have also been shipped to a wide variety of markets world-wide.
At the same time, the region includes a number of significant cement and clinker import markets, supported by the involvement of the region’s large cement companies in import facilities overseas. Detailed examinations of the regional and national import/export profiles are presented and discussed all the major countries in the region.

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Choice of flag is fundamental to a ship’s commercial performance, and knowledge of the many factors that determine the most suitable option is essential for every business involved in shipping. A key volume in the prestigious Lloyd’s Shipping Law Library, this important book provides an authoritative guide to the theory and practice of Ship Registration. This book not only provides you with the theory, it also covers the full procedural requirements - including sample forms - for the leading Open Registries, ranging from the largest and most well known, to several of the new countries which have recently emerged on the registry scene.

Product Description

The only definitive work on ship registration

Details both the theory and practice of ship registration

Covers full procedural requirements for 20 leading registries

Contains up-to-the-minute forms and procedures

Comprehensive coverage

Ship Registration: Law and Practice is the most comprehensive guide available to registering a ship, explaining legal concepts and their practical application, with special consideration given to:

Underlying legal concepts behind the registration of ships

Flags of convenience - what they are and why their use is on the increase

Registering a bareboat charter and how these differ from the norm

Factors governing choice of flag

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Why you need this book :Extensive and thorough account of towage law ,Only “clause by clause” commentary on the leading standard form towage and offshore services contract, UK Standard Conditions, Towcon/Towhire, Supplytime, Salvcon/Salvhire, Wreckfixed/Wreckitake/Wreckhire 1999

Revised and Updated

The book provides an updated source of information for all the important decisions both in the general law of towage and in the general law which affects a significant amount of the text since the last edition six years ago, particular attention has been paid to

The Towcon or Towhire forms in particular of the BIMCO “knock-for-knock” liabilities clause, clause 18
Admirality Jurisdiction
The nature of contract of towage
Two new chapters providing commentary of two further forms since the last edition, including:

The international Salvage Union’s “Salvcon” and “Salvhire” forms relating to the sub-contracting in of tugs to assist in salvage sevices
The BIMCO-ISU “Wreckcon” and which have been recently revised following the representations of the P & I Clubs who chiefly foot the bill for such operations
 

Contents:
Contents
The Contract of Towage
The Implied Obligations of Tug and Tow
Standard Form Contracts I
Standard Form Contracts II
Standard Form Contracts III
Towage and Salvage
ISU Standard Form Contracts
The BIMCO ISU Standard Form Contracts for Wreck Removal
Collisions involving Tug and Tow
Towage and limitaion of liability
Tug and Tow and General Average
Admirality Jurisdiction

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EC Shipping Law 3rd Edition

EC Shipping Law, 3rd Edition has been completely revised to include recent developments and features in-depth commentary and analysis on the revolutionary changes in EC shipping law in recent times spanning areas such as competition, safety, consortia, State aid and transport law generally.

The new edition brings the story of how the European Union applies to the shipping sector right up to date. In particular, it deals with:

• The new competition/antitrust regime applicable to the shipping sector since the abolition of Regulation 4056/86

• The new guidelines on how competition law applies to the maritime sector (including the rules on information exchange)

• The new safety and environmental rules

• The saga of the two proposed port services directives

• The new consortia regime

• All of the new EU Commission and Court cases spanning shipping and ports

• New rules on security and ports

• Freedom of establishment and freedom to provide shipping services in the EC

Covering various aspects of EC shipping law in detail, this fully updated new edition takes a commercial as well as a legal perspective throughout.

This is an essential reference work for professionals who are under pressure to provide advice to clients on how EC law affects their business and how to avoid the pitfalls and take advantage of the extended market in any European transaction.

“pioneering work”

“the most impressive guide to this area”

“all law firms with even the pretence of a maritime practice should buy a copy”

International Company and Commercial Law Review

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If you operate in the areas of commercial and maritime law you know just how difficult it is getting to the key statutes which bear upon your case - especially when you might be dealing with a case which crosses a number of statutory boundaries. This unique single volume solves your problem by presenting all the key statutes in one place so you can work more efficiently.
Grouping together the most commonly referred to statutes in one convenient volume, specialist barristers Peter MacDonald Eggers and Simon Picken have provided a source book which is not only very practical but which is also easy to use and has been prepared with the specialist lawyer in mind.

Use this book to maximise your efficiency when handling key maritime and commercial law cases
It lists all the materials which specialist lawyers use most often in maritime and commercial law cases
A handy and practical book covering key pieces of legislation from commercial contracts to evidence and procedure
Providing a useful collection of reference material for users of commercial, maritime and insurance statutes, this book will be referred to time and again and will earn a place on your desk as a permanent ready-reckoner of key statutes to help you work more efficiently.

Other specialist shipping law titles from Professional are published as part of the LLP Shipping Law Library.

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Reforming Marine and Commercial Insurance Law provides a comprehensive, coherent and practical legal analysis of the work currently undertaken by the English and Scottish Law Commissions with a view to reforming the current legal regime. Written by a team of experts from the legal profession, insurance market and academia, this book offers a critical discussion on the legal and practical implications of planned law reform in this area.

Product Description

Reforming Marine and Commercial Insurance Law provides a comprehensive, coherent and practical legal analysis of the work currently undertaken by the English and Scottish Law Commissions with a view to reforming the current legal regime.

Written by a team of experts from the legal profession, insurance market and academia, this book offers a critical discussion on the legal and practical implications of planned law reform in this area.

TABLE OF CONTENTS:

CHAPTER 1 INSURANCE CONTRACT LAW REFORM IN ENGLAND/WALES AND SCOTLAND 1
1 Introduction 1
2 Project history 2
3 The responses 4
3.1 Structure of the reforms 4
3.2 Non-disclosure/misrepresentation 5
3.3 Warranties 5
3.4 Points for consideration 5
3.5 Business insurance 6
4 Consultation Paper 2 6
5 Conclusion 7
6 Extracts from various reports 9
6.1 Part 12 (List of Proposals and Questions) of the Law Commission Consultation Paper (No. 182) and the Scottish
Law Commission Discussion Paper (No. 134), Insurance Contract Law: Misrepresentation, Non-Disclosure and Breach of Warranty by the Insured published in 2007 9
6.2 Part 1 (Summary) of the Issues Paper 4 published by the Law Commission and the Scottish Law Commission on 14
January 2008 on Insurable Interest 19

CHAPTER 2 PRE-CONTRACTUAL INFORMATION DUTIES AND THE LAW COMMISSIONS’ REVIEW 25
1 Introduction 25
2 Background 25
3 Should there be any reform? 28
3.1 Consumer vs business insurance 28
3.2 Historical arguments for reform 29
3.3 Further reasons for reform 33
3.4 Other arguments against reform 35
3.5 Is reform necessary? 37
4 The proposal for a default regime 38
4.1 The business context 38
4.2 Arguments in favour of a mandatory regime 40
4.3 Arguments in favour of a default regime 41
4.4 Compromise between the two regimes 42
5 The proposal to retain the duty of disclosure 44
5.1 The prevailing view that the duty should be retained 44
5.2 Carter v. Boehm 45
5.3 The operation of the law 46
5.4 The importance of certainty when the contract is made 47
5.5 Arguments why insurance contracts should receive special treatment 48
5.6 The effect of the reasonable insured test 50
5.7 General questions 52
5.8 Summary 52
6 The shape of insurance disputes to come 52
6.1 The terms of the insurance contract 53
6.2 Issues of non-disclosure/misrepresentation 54
6.3 The consequences of non-disclosure and misrepresentation 60
6.4 Summary 62
7 Overall conclusions 63

CHAPTER 3 MATERIALITY: THE SEARCH FOR PRACTICALITY 65
1 The current ‘‘Wish to Know’’ option 65
2 The ‘‘Decisive Influence’’ option 66
3 Pine Top: the choice of ‘‘Wish to Know’’ 67
4 Pine Top: the support for ‘‘Decisive Influence’’ 70
5 Intermission: the Law Commissions’ response to variants on MIA, section 18(2) 74
6 The neglectful common law? 75
7 The Law Commissions’ buyer’s model 76
8 Introductory observations 78
9 The subjective limb (a fact that the proposer actually knew was one the insurer would want to know about) 79
10 The objective limb (a fact which a reasonable insured in the circumstances would have appreciated would be one that the
insurer would want to know about) 82
10.1 Inferences a reasonable man will make from the placement itself 83
10.1.1 The obviously material 84
10.1.2 Knowledge gained by consultation 85
11 Contracting out 86
12 Conclusion 86

CHAPTER 4 THE LAW COMMISSIONS’ PROPOSALS AND REINSURANCE 89
1 Introduction 89
2 Approaches to reform 92
3 The issues raised by reinsurance 94
4 Practical application of the reforms to reinsurance nondisclosures 96
5 Practical application of the law reforms to reinsurance misrepresentations 101
6 Conclusion 102

CHAPTER 5 A PRACTITIONER’S PERSPECTIVE ON PLACEMENT DUTIES OF INSURANCE BROKERS AND REFLECTIONS OF THE PROPOSALS OF THE LAW COMMISSIONS 105
1 Introduction 105
2 Brokers’ duties 105
2.1 Consumer insurance 106
2.2 Industrial risks 107
3 Duty of material disclosure 108
3.1 Inducement 109
3.2 Insurance site surveys 109
4 Binding authorities 111
5 Warranties 111
6 Insurable interest 112
7 Brokers’ records 112
8 Conclusions 112

CHAPTER 6 THE LAW COMMISSIONS’ PROPOSED REFORMS OF THE LAW OF ‘‘WARRANTIES’’ IN MARINE AND COMMERCIAL INSURANCE: WILL THE CURE BE BETTER THAN THE DISEASE? 113
1 The present law 114
2 The Law Commissions’ general approach to the question of warranties 116
3 The proposals as to warranties as to existing (or past) facts at the time the contract is concluded 118
4 The proposals concerning warranties as to future events or performance by the assured 122
5 Different rules for different markets? 124
6 Conclusion 125

CHAPTER 7 REFORMING INSURANCE WARRANTIES —ARE WE FINALLY MOVING FORWARD? 127
1 Introduction 127
2 Fundamental principles guiding a potential law reform an warranties 131
2.1 Certainty 132
2.2 Freedom of contract 132
2.3 Reasonable expectations of the assured 133
2.4 Reform not revolution 133
3 Reform options 134
3.1 Adopting the doctrine of ‘‘alteration of risk’’ 134
3.2 Equating warranties with other risk definition clauses 136
3.3 Converting warranties into suspensory provisions 137
3.4 Making alterations in the current warranty regime in line with general contract law 138
4 A critique of the law commissions’ main proposals on the warranty regime 139
4.1 Warranties as to the future (future warranties) 139
4.1.1 Requiring connection between the breach and the loss 141
4.1.2 Modifying section 33(3) of the Marine Insurance Act 1906 143
4.2 Warranties of present or past facts (warranties of fact) 146
4.3 Statutory controls 149
4.3.1 Transparency 149
4.3.2 The ‘‘reasonable expectations’’ approach 150
5 Conclusion 153

CHAPTER 8 REFLECTIONS ON VALUES: THE LAW COMMISSIONS’ PROPOSALS WITH RESPECT TO REMEDIES FOR BREACH OF PROMISSORY WARRANTY AND PREFORMATION NON-DISCLOSURE AND MISREPRESENTATION IN COMMERCIAL INSURANCE 155
1 Introduction 155
2 The fundamental values of commercial transactions law 156
2.1 Party autonomy 157
2.2 Certainty 159
2.3 Appropriateness of remedy 161
3 The Law Commissions’ reform proposals in commercial insurance 164
3.1 Proposals on promissory warranties 164
3.1.1 Promissory warranties, risk definition and risk alteration 165
3.1.2 Scope of reform 169
3.1.3 New default rules for promissory warranties 170
3.1.4 Contracting out of the new default rules 171
3.1.5 Written standard terms of business 172
3.1.6 Seaworthiness 176
3.2 Proposals on pre-formation utmost good faith: nondisclosure and misrepresentation by the assured in risk presentation 178
3.2.1 The actionability of innocent misrepresentation and non-disclosure 179
3.2.2 Negligence and compensatory remedies 182
3.2.3 Characterisation 182
3.2.4 Contracting out 183
3.2.5 Alternative approaches to reform 183
4 Conclusion 185

CHAPTER 9 INSURABLE INTEREST: A SUITABLE CASE FOR TREATMENT? 187
1 Introduction 187
2 Insurable interest: the concept 187
3 Insurable interest: a brief history 189
4 The Gambling Act 2005 193
5 What constitutes an insurable interest? 195
5.1 Indemnity insurance 195
5.2 Contingency insurance 198
5.2.1 Natural affection 198
5.2.2 Pecuniary interest 198
5.2.3 Insurable interest under statute 199
5.2.4 Other pecuniary interests 199
6 Problem areas: the need for reform 201
6.1 Indemnity insurance 201
6.1.1 The law is uncertain 202
6.1.2 The Gambling Act 2005 has abolished insurable interest by mistake 204
6.1.3 It is unclear whether the Life Assurance Act 1774 applies to insurance on land 204
6.1.4 It is unclear whether the Marine Insurance (Gambling Policies) Act 1909 still applies 205
6.1.5 Do provisions requiring those interested to be named in policies serve any purpose? 205
6.1.6 Another problem: ‘‘pervasive interest’’ 205
6.1.7 Conclusion 208
6.2 Contingency insurance 208
6.2.1 The law is difficult to analyse 209
6.2.2 The boundary between life/personal accident assurance and liability insurance has become blurred 209
6.2.3 Dependants find it difficult to arrange insurance 210
6.2.4 Section 2 of the Life Assurance Act 1774 can be used to avoid a policy on a technicality 211
6.2.5 Interest on a debt may not be insurable and key employee insurance is uncertain 211
6.2.6 It is possible to side-step the requirements of the Life Assurance Act 1774 through assignment 213
6.2.7 The Life Assurance Act 1774 no longer reduces moral hazard or gambling in the guise of insurance 213
6.2.8 Composite policies of insurance can be threatened 215
6.2.9 The remedy for breach is unclear and penalises only the policyholder 215
6.2.10 Conclusion 216
7 Proposals for reform 217
7.1 Indemnity insurance 219
7.1.1 No requirement of insurable interest 219
7.1.2 Timing of interest 220
7.1.3 Valued policies 221
7.2 Contingency insurance 222
7.2.1 Should a requirement of insurable interest be maintained? 222
7.2.2 Possible amendments to the principle of insurable interest 223
7.3 Other reforms 227
8 Conclusion 227

CHAPTER 10 UTMOST GOOD FAITH AND THE PRESENTATION AND HANDLING OF CLAIMS 229
1 The continuing duty of utmost good faith 229
2 The assured’s presentation of claims 232
2.1 Relatively certain aspects of the law 233
2.1.1 The scope of the duty—fraud is prohibited 234
2.1.2 The meaning of a fraudulent claim 237
2.1.3 The fraud must be substantial 238
2.1.4 Materiality 239
2.1.5 No requirement of inducement 240
2.1.6 End of the duty 241
2.2 Uncertain aspects of the law 241
2.2.1 The duty of utmost good faith and avoidance 241
2.2.2 Recent attempts to restrict avoidance 246
2.2.3 Forfeiture 248
2.2.4 Breach by concealment? 249
3 The insurer’s handling of the claim 250
3.1 Insurer’s duty of utmost good faith 250
3.2 Late payment of the insurance claim 252
4 The need for a flexible remedial response 256
5 Concluding thoughts 257

APPENDIX: The Marine Insurance Act 1906 259
 
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This major new Report provides invaluable independent analysis on the future development prospects for all aspects of the LPG sector. It represents the most up-todate and comprehensive examination of the LPG shipping industry, and is essential reading for all parties with an interest in this sector.

The LPG sector has seen considerable development in recent years, leading to a current high level of market uncertainty over the real future prospects :

LPG consumption has increased by an estimated 15% since 2000, with continued growth in demand world-wide, with particular expansion in the Chinese and Indian markets. At the same time, seaborne LPG trades have expanded by 29% since 2000.

The LPG vessel fleet has expanded by over 19% during this time frame – this increase has been buoyed by the forecast growth in demand for LPG and rising freight rates.

After large-scale rate escalation in 2004-05, freight rates increased further in 2006, to some of the highest levels recorded since the early 1990s.

The expansion of the fleet is forecast to take on a new dimension in the near future, as a large number of vessels currently under construction are delivered.The current orderbook stands at 48% of fleet capacity.

The future of LPG demand is still in the balance. US demand has slowed, as has Japanese and South Korean demand. This is in parallel with increasing LNG imports in these markets. Chinese and Indian LPG imports might also be affected in the future by increased imports of LNG.

Large-scale fleet expansion will more than compensate for the obsolescence of a significant volume of old vessels. The impact of so many new vessels could have dramatic and significant implications on the LPG shipping market.
This detailed Report examines the outlook for all aspects of the LPG carrier market throughout the period to 2018, through in-depth analysis of recent/current developments and extensive future forecasts.Included in the Report are detailed analyses and forecasts in the areas of:

Trade volumes and patterns;
Fleet development (incl. newbuilding and scrapping);
Vessel operating costs;
Vessel freight rates;
Vessel demand and supply;
Vessel profitability.

For more information kindly visit
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The world cement trade and shipping sector is a complex combination of a wide variety of regular movements and sporadic short-term opportunistic shipments. A high volume of trade represents movements between companies under the umbrella of the same multinational cement group, whilst independent cement traders are still a major factor determining price levels and patterns of trade.
Construction booms and downturns can alter the regional cement trade profile dramatically – as witnessed in recent years in many of the world’s leading markets. Similarly, the rush to build new production capacity to meet future demand can make significant volumes of cement and/or clinker available for export, with the location of the plant and inland logistics determining the economic feasibility of overseas shipments.

A further layer of complexity is imposed by the variability of shipping costs – bulk carrier freight rates are determined by factors outside the cement sector, but they can radically alter the cost competitiveness of supplies from one country in a variety of world markets. The volatility of shipping costs – as witnessed over the past 4 years – therefore provides an extra layer of uncertainty for the future prospects of trade patterns and volumes.

Global Cement Trade & Shipping - Future Outlook to 2015 examines in detail the recent development of cement trade patterns and volumes, and provides an insight into the likely future outlook over the period to 2015. This is based not only on the cement production/consumption outlook for individual markets throughout the world, and therefore the implications for import requirements and export availability, but also on the likely future development of the specialist cement carrier fleet and the general bulk carrier sector. With extensive development ahead for the sizes of bulk carrier of most relevance to the cement sector, the outlook for cement shipping via this mode is highly uncertain, especially given the extent of market uncertainty over the future path for shipping freight rates.

For the specialist cement carrier sector, Global Cement Trade & Shipping - Future Outlook to 2015 includes a highly detailed set of analyses of the current fleet, and an examination of the likely forward development, based on the age profile and trends in new vessel ordering.

Global Cement Trade & Shipping - Future Outlook to 2015 provides invaluable independent analysis on the development of cement shipping and trade throughout the world in the period to 2015. It represents the most up-todate and comprehensive examination of the trade and shipping of cement ever published, and is essential reading for all parties with an interest in this sector.

For more information kindly visit
http://www.bharatbook.com/Market-Research-Reports/Global-Cement-Trade-Shipping-Future-Outlook-to-2015.html