Lloyd's Shipping & Trade Law

Liens on sub-freights: contractual cross-fire

The European Union's (EU) Framework to Facilitate Sustainable Investment (the Taxonomy Regulation) and other voluntary frameworks, such as the Climate Bonds Initiative or the Green Bond Principles, are concerned with assisting banks and financiers manage the risks associated with "greenwashing" - where the sustainability performance of a financial product misleads investors and stakeholders.1

Containerisation, introduced in the mid-1900s, revolutionised the shipping sector by lowering cost, increasing efficiency, and enhancing supply chain optimisation. Nevertheless, containerisation has also brought in its wake a unique set of challenges. Notably, gaining access to the container, without breaking its seal, is deceptively simple. Given the heightened focus on port security in accordance with the ISPS (International Ship and Port Facility Security) regime and the inherent challenges of committing theft on board cellular container ships, the majority of incidents seem to occur during overland transportation.