Like many Shipping and Trade lawyers, we have been inundated with new cases since the outbreak of hostilities between Russia and Ukraine. We have been asked to advise on the various Russian sanctions and their application to shipping/international sale of goods; specific sanction clauses in Charterparties and COAs; and to assist with sale of goods and commodity contracts involving Russian origin or destined cargoes.
We are seeing sudden and often problematic extra-ordinary changes in certain commodity price indexes, freight rates and bunker costs, with associated unexpected profit and loss scenarios for market participants.
On a practical level we are assisting ship owners and their Clubs with Russian origin cargoes on board vessels where freight cannot be routinely paid by banks due to the sanctions, FOB and CFR sellers of Russian origin bulk cargoes where the sale price payment is blocked due to sanctions, including payments by Letters of Credit, and insurers considering war risks and coverage issues. In addition, some Owner and Charterer clients require assistance renegotiating fixtures, planned routes and load/disport conditions which now involve war zones.
We expect that the conflict and sanctions will have a far reaching impact upon shipping and international trade generally and will give rise a host of defaulting performers, claims and, inevitably, London arbitrations.
Above all our thoughts are with those affected by the human suffering caused by the hostilities.
'Shipping & Trade Firm of the Year in England' 2023
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From the 'International Law Office, Client Choice Guide' while Andew Iyer was practising as a solicitorWinner of the International Law Office 'Client Choice Award for Energy & Natural Resources UK'
While Andrew Iyer was practising as a solicitor“an extraordinarily fine lawyer with the full portfolio of skills, from negotiating contracts to claims, disputes and arbitrations - he’s the whole package!”
From 'Chambers Guide to the Legal Profession' while Andrew Iyer was practising as a solicitor“[Iyer] has the experience to instantly recognise the problems being encountered and the professional expertise to always provide sound, concise and, most importantly, clear legal advice”
From the 'International Law Office, Client Choice Guide' while Andew Iyer was practising as a solicitorShipping & Trade Firm of the Year in England 2020
Global Law Experts Annual AwardsEnergy & Natural Resources Law Expert of the Year in England 2020
Leaders in Law Global Awards'Energy & Natural Resources Firm of the Year in England' 2023
Corporate Intl Magazine Global Awards'Arbitration Advisers of the Year' 2021
Global Business Magazine
“[Iyer is] an extraordinarily fine lawyer with the full portfolio of skills, from negotiating contracts to claims, disputes and arbitrations - he’s the whole package!”
From 'Chambers Guide to the Legal Profession' while Andrew Iyer was practising as a solicitor'Leading Arbitration Specialist UK' 2022
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