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Articles for February 2012
New rules for China
Understanding the new China regulations is critical reports Julian Davies, Gareth Boyes and Lucy Chen, of Holman Fenwick Willan
Common sense prevails
Supreme Court confirms importance of “business common sense” in contractual interpretation, as Nick Vineall QC and Alex Wright, of 4 Pump Court report
Ship recycling grows
The American P&I Club has published a review of global ship recycling and finds that the role of the intermediary cash buyer continues to grow
Turbulent waters for ship finance market
Richard Eglington, of Eversheds, discusses the challenges that the ship financing market currently faces and looks at potential solutions for shipowners
Iran and Israel
US war risks to marine sector
Italian cruise ship casualty review
As Maritime Risk International goes to press, salvors are beginning to work on the 2006-built, 114,147gt Costa Cruises owned Costa Concordia, which hit a rock and grounded close to the Italian island of Giglio on 13 January. 4,231 people were on board – at least 17 are dead and a further 15 unaccounted for. Below is some of the reaction:
Hedging is not rocket science
A recent 49% rise in freight rates in one month has led to massive interest from ocean carriers, logistic companies and shippers. Allowing customers to agree forward cargo volumes independently of the actual freight rate solves a long lasting problem in the container industry, believes Kai Miller, of ICAP Shipping, who answers some key questions below
The process explained
Pavani Reddy, of Zaiwalla & Co Solicitors, reviews the Gafta arbitration process
Good matters reporting
Ian Griffiths, of KPMG, on the importance of financial reporting
The risks of mergers
Bruce Paulsen, Edward Horton and Jeffrey Dine, of Seward & Kissel LLP, look at trends in merger activity and litigation risk in shipping