Join us for a presentation by Dr Robin Bowley of UTS, followed by canapes, drinking and networking.
Young Shipping Australia welcomes you to its first event of the year. Join us for a presentation by Dr Robin Bowley of UTS on “Managing Geopolitical Risks to Shipping”, followed by canapes, drinks and networking.
Start time: Please arrive from 5:30pm for a 6pm presentation start.
Date: Tuesday, Mar 31 at 5:30 pm
Venue: HWLE, Level 9, 5 Martin Place, Sydney, NSW
About the Presentation
Over recent weeks there has been a significant deterioration to the already highly volatile security situation in the Middle East, with drone and missile strikes on a range of targets across the region.
For the international shipping sector, this situation is already resulting in significant cost impacts due to ship diversions and increases in insurance premiums, and there are also significant concerns about the vulnerability of vessels transiting the region to attacks.
This presentation will provide an overview of the forms of marine insurance that apply to shipping in high-risk areas – including the Institute Cargo Clauses (produced by the International Underwriting Association) which may apply to physical damage to goods in transit; and the Baltic and International Maritime Council (BIMCO) War Risks Clauses for Time Chartering 2025 (CONWARTIME 2025) and for Voyage Chartering 2025 (VOYWAR 2025), which are commonly incorporated into charterparties with specific provisions for war risks.
It will then discuss previous cases where the English courts have considered the application of these clauses in the context of claims resulting from damage to vessels and disruption to shipping in high-risk areas such as the Persian Gulf.
It will also incorporate a brief discussion on the potential application of force majeure clauses and the doctrine of frustration in the current geopolitical context.
The presentation will conclude by noting the key points that carriers and charterers should consider when reviewing their contracts during this challenging and uncertain time.
Attendance
Attendance is free. We encourage all attendees to join or renew their YSA membership, which you can do at this link: https://www.shippingaustralia.com.au/young-shipping-australia/ysa-nsw/
