- YBA and annual Golf Dinner pictures
Pictures from last Thursday’s Golfing Society Dinner in London and the Young Baltic Association’s Singapore event can be found on the Baltic’s Flickr account at: www.flickr.com/photos/thebaltic/sets
- Baltic ICS Lunchtime Lectures
The Baltic Exchange and Institute of Chartered Shipbrokers (ICS) bi-monthly lecture series will now take place in Athens and Shanghai as well as Singapore and London. To date, the lecture series, aimed at shipbrokers and operations professionals, has attracted approximately 500 attendees across the Singapore and London events.
The next lecture, scheduled for 28 March, will feature presentations from leading P&I professionals in Shanghai, Singapore and Athens. Speakers will uncover the resources, structure and risks involved in this unique form of insurance, in addition to explaining the workings of a Club.
The London lecture will focus on trading tools: positioning and risk. Peter Andersen, Senior Director, Genscape will examine reactions and commercial decisions in the run-up to the American grain and hurricane seasons. Peter will discuss how using satellite technology, big data and infrastructure monitoring, traders and owners approach opportunity and risk through these cycles.
The lectures are free to Baltic and ICS members.
£100 London / SG$100 Singapore / ¥500 Shanghai / €100 Athens
Light lunch included.
Attendees should register by emailing email@example.com
Reference codes: BXICS04L / BXICS04SG / BXICS04SH / BXICS04A (please use code relevant to your city).
Click here to download a flyer.
- Freight and Commodities Forum – 25 April, Singapore Maritime Week
New speakers confirmed for the Singapore Maritime Week Forum (25 April) include Dr Martin Stopford, President of Clarksons Research and Ian Roper, GM, SMM Singapore.
The Forum will also feature presentations and open discussions on new Baltic initiatives, market benchmarks and impact of 2020 Sulphur Cap on the market.
Click here for more info.
- Join the Lord Mayor’s Big Curry Lunch
The Baltic is looking to have a bigger than ever presence at the 11th annual Lord Mayor’s Big Curry Lunch at London’s Guildhall on Wednesday 11 April 2018.
The Lunch supports members of Her Majesty’s Armed Forces and Veterans who have served in Iraq and Afghanistan through the British Army’s national charity ABF The Soldiers’ Charity and in association with The Royal Navy and Royal Marines Charity and The Royal Air Force Benevolent Fund.
Hosted by the Lord Mayor of the City of London, the event has contributed over £1.7m to The Soldiers’ Charity since 2008.
Tickets are £100, which includes unlimited curry, beer and wine. The Lunch will begin at midday, and there will be three lunch sittings, at 12.30pm, 1.15pm, 2.00pm. It will finish at 3.00pm.
Click here to purchase tickets.
- Chairman’s Cocktail Party: tickets go on sale
The Chairman’s Cocktail Party is one of the highlights of the Baltic’s social calendar, attended by 600 members and their guests. This year the event will be held on 9 May at Christ Church, Spitalfields.
Tickets go on sale this week, to register your interest, email firstname.lastname@example.org.
- Member update
Motiva Enterprises LLC (Mr C Maqueda, Mr W Lam, Mr M Bateman, Mr J Hall) has applied for Corporate Membership of the Baltic Exchange.
The following individuals have applied for Membership of an existing member company:
Mr Y Sato, NS United Shipping (UK) Ltd
Ms Z Upson, Freight Investor Services Ltd
Mr O Merillon, DEA Deutsche Erdoel AG
Mrs E Laskari, Oino Shipbrokers Co Ltd
Mr D Lin, Pacific Carriers Limited
Any comments should be passed to Karen Karanicholas by 21 March 2018.
- HFW wins $70m arbitration appeal in English High Court
HFW has successfully had a $70m London arbitration award against one of its clients set aside following an appeal to the English High Court.
A London arbitral tribunal had previously awarded substantial damages to ship owner Loki Owning Company Ltd, which alleged that HFW’s client, Chinese steel company Jiangsu Shagang Group Co Ltd, had guaranteed the performance of a time charter contract. HFW appealed to the English High Court under section 67 of the English Arbitration Act 1996, which allows parties to challenge an arbitral award on substantive jurisdiction. The High Court judge found that the tribunal lacked jurisdiction and set aside the award.
Commenting on the win, HFW disputes partner Trevor Fox said: “It is rare to successfully set aside a London arbitration award, but this is a case where it was appropriate. In its approach and in issuing this decision, the High Court has shown its ability and willingness to provide sophisticated support to international arbitration. We are very pleased to have been able to help our client obtain this result.”
Appeals on substantive jurisdiction are treated by the Court as a complete rehearing. On receiving documentary and oral evidence that was not before the Tribunal, the Court went on to make findings of fact and witness assessments that were markedly different from those reached by the Tribunal, including that it found Jiangsu Shagang’s witnesses to be highly credible.
The High Court has shown its ability and willingness to provide sophisticated support to international arbitration
The HFW team was led by Fox and shipping partner Julian Davies, who are both based in the firm’s Shanghai office.
HFW has one of the largest and most active disputes practices in the market, covering litigation – including commercial litigation – international arbitration and alternative forms of dispute resolution. The firm has specialist disputes teams in each of its 18 offices worldwide, and regularly handles high-value, complex, multi-party and multi-jurisdictional disputes. The firm’s expertise spans a wide range of sectors and industries, including aviation, commodities, construction, energy, insurance and shipping.
A recent report by UK trade publication The Lawyer revealed that HFW spent 70 days litigating in the UK Commercial Court in 2016 and 2017 – more than any other law firm. The Lawyer also recently ranked HFW as the fifth most active litigation firm among FTSE 100 clients.
The full High Court judgment can be seen here.
Update from March 14, 2018: The owners’ application for leave to appeal, made before Justice Carr in the London High Court on March 13, 2018, was refused. The judgement is therefore final.
HFW is a law firm that works with companies in the shipping, insurance, commodities, energy, aviation and construction sectors. For more information, visit www.hfw.com/Home.