Trading Straits

Alice Colarossi and Julia Norsetter discuss how the Jones Act poses challenges for the development of offshore wind projects in the U.S.  They explain the contents of the Jones Act, provide commentary on its implementation, and discuss solutions that have been used to overcome its restrictions.

Admiralty & casualty lawyers Richard Gunn (partner) and James Scott (counsel) discuss developments in relation to the 1976 Convention on limitation of liability for maritime claims. Richard provides analysis on the application of Articles 12 and 13 of the Convention and James talks on limitation of liability for indemnity claims for wreck removal costs.   

Partners Nick Austin, Thor Maalouf and Alex Brandt bring us up to date with the latest shipping and trade issues; including sanctions, the geopolitical landscape's influence on the supply chain, and the shifting dynamics of decarbonization regulations. Following the industry panel discussion at the London International Shipping Week event hosted by Reed Smith in September, the three speakers offer insights into the evolving challenges and opportunities shaping the future of the shipping and trade sector.

The demand for large-scale offshore energy – including oil, wind and solar – is presenting opportunities for companies that supply vessels. Transportation lawyers Susan Riitala and Catriona Henderson discuss the unique dynamics of financing vessels for offshore energy operations, the special risks it presents, the importance of having trusted partners, and other solutions to major problems. Tune in for a concise, insightful look at the booming world of offshore energy.

Partners Nick Austin and Brett Hillis and counsel Julie Vaughan explain key features of the European Union Emissions Trading System (EU ETS) and how it is now to be applied to ships entering and leaving EU ports – and those sailing between them. In this podcast, they discuss the implications for charterers, possibilities for trading emissions allowances and the relevance of financial regulation.

Customs has taken on heightened significance with respect to the U.S. Foreign Corrupt Practices Act (FCPA) compliance and risk management for many global businesses. We are tapping the knowledge of two former federal prosecutors from the U.S. Justice Department to help provide useful insights. Regulatory enforcement lawyers Daniel Ahn and Mark Bini discuss their experience in matters involving allegations of bribery and corruption brought by federal and state governments and explain the key issues that companies should look out for at the border. They analyze the FCPA, discuss customs issues, and show how attention to compliance and due diligence help prevent allegations of corruption.

Transportation lawyers Philip Rymer, Thor Maalouf and Romain Farnoux discuss issues arising from the incorporation of new technologies – specifically, ones designed to reduce carbon emissions – in superyachts, including the risks of new designs and their potential impact on construction terms and financing arrangements.

A new EU regulation will come into force on June 29, 2023, imposing onerous due diligence requirements for businesses buying and selling products made from seven common commodities: cocoa, coffee, cattle, soy, rubber, palm oil, and timber, or the raw commodities themselves. For timber, the regulation replaces an earlier law, but for the remaining commodities, it is cutting new ground. In this podcast, Julie Vaughan and Nicolas Walker from our environmental team lead you through how it all works.

Transportation lawyers Mike Adamson and Laura Hyne discuss the use of alternative fuels in the maritime industry, including the potential challenges and benefits of using greener fuels, as well as new regulatory and legislative developments.

Partners Alex Brandt (London) and James Willn (Dubai) discuss how international sanctions against Russia are impacting the shipping and energy sectors. They cover the sanctions' effects on industry, the situation's impact on the Middle East, and the challenges of dealing with inconsistencies in the EU, UK, and U.S. approaches.  This episode was recorded on February 14 and does not take into consideration any guidance/updates published after that date.

Partners Kevin Keenan and Antonia Panayides discuss the market for bunkering facilities and vessels. LNG is poised to expand – thanks to technological advances and market demand for cleaner fuel. But that expansion must take into account international commitments to reduce CO2 emissions. Kevin and Antonia explain the latest developments in the space and the key points that shipowners, charterers, and their counsel should consider in order to avoid pitfalls.

The legal and regulatory bars are getting higher around green finance and carbon finance. When seeking funding, industry participants must do more to prove their environmental achievements.  Susan Riitala and Rob Lustrin from our Transportation Industry Group, and Brett Hillis, from our Energy and Natural Resources Group, discuss green finance structures and substantiating environmental claims in the shipping, transportation and ENR industries.

In the final of three episodes on shipbuilding law, Sally-Ann Underhill and Thor Maalouf discuss the circumstances under which a buyer can cancel a shipbuilding contract, as well as the options that are available for the yard. They also discuss warranty claims, including typical wording found in warranty provisions and time limits.

Partners Sally-Ann Underhill and Thor Maalouf discuss refund guarantees, why it matters whether you have a “true guarantee” or a “demand bond,” and attempts to delay payment by refund guarantors. They also discuss how integration of new decarbonization technologies may lead to delays during construction, how delays impact the legal framework under a shipbuilding contract, and the prevention principle. 

Partners Sally-Ann Underhill and Thor Maalouf discuss the law on the initial stages of a shipbuilding project, including how new decarbonization technologies impact the documentation of specifications and performance criteria, the main types of contracts used to document shipbuilding deals, and how to record changes to a shipbuilding deal once it is signed.

Cross-practice partners Michelle Mantine, Carolyn Rosenberg, and Jennifer Smokelin discuss new legal, regulatory, and antitrust concerns relating to ESG programs. They examine the latest ESG-related greenwashing and competition litigation risks that businesses and organizations need to consider and the associated insurance protection implications.

Join partners Philip Rymer and Susan Riitala as they discuss the new BIMCO ship sale and purchase agreement, SHIPSALE22 and how it compares to the Norwegian Shipbrokers' Association's standard form of contract, as well as the potential issues surrounding the new form.

Following industry responses to its consultation paper on electronic trade documents, on 16 March 2022, the Law Commission published its revised recommendations and draft legislation in “Electronic trade documents: Report and Bill No 405.” In this podcast, partner Nick Austin and associate Sofia Papaspyropoulou focus on the key issues coming out of the Law Commission's latest proposals.

The need to create a greener future in shipping is more important than ever and has created an industry focus on reducing carbon emissions. Reed Smith partners Nick Austin, Jennifer Smokelin and James Willn discuss future regulations steering shippers toward emissions targets set at COP26. The speakers analyze legal and commercial issues around the shipping industry's transition to net zero.  

In the second half of our series on LNG looking ahead to 2022, Kevin Keenan, Antonia Panayides and Mike Adamson discuss their expectations of the LNG market in the shipping sector. They opine on emerging trends, growth opportunities, regulatory challenges, and potential bumps in the road, all from their unique legal and geopolitical perspective.

2021 was a turbulent year in the Liquefied Natural Gas (LNG) sector. Now, with the new year in full swing, several of our Energy & Natural Resources lawyers – James Atkin, Frances Furness, and Richard Swinburn – discuss what they expect to see from the LNG market in the year ahead. They share their forward-looking thoughts on emerging trends, growth opportunities, regulatory challenges, and potential bumps in the road from a legal perspective.

Reed Smith partners Sally-Ann Underhill and Dimitris Assimakis discuss energy storage in Greece, with a focus on energy generated through renewable sources. They cover why energy needs to be stored, the various energy storage technologies available, the factors impeded further development of energy storage systems so far, the high interest of investors currently recorded in the Greek market and the new policies anticipated to be adopted by the Greek authorities for the promotion of energy storage systems. 

Leigh Hansson, Alexander Brandt and Brett Hillis discuss the impact and differences between the new U.S., UK and EU sanctions on Belarus, with a particular focus on the shipping and energy sectors.

A global cross-office team consisting of partners Marjorie Holmes and Ross Mackenzie with counsel Han Deng discuss their forward-looking thoughts and views on the implications of the new Act, and how it will affect the shipping and energy industries. For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.

Counsel Susan Riitala and associate Liam Hart discuss the current market conditions and how the pandemic has affected shipbuilding disputes. Their comments focus on force majeure, time bar, notification and good faith obligations; along with basic guidelines to follow if you find yourself in a shipbuilding dispute. For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.

In the second part of our dispute resolution podcast, Reed Smith London partners Elizabeth Farrell and Alexander Sandiforth discuss the disclosure pilot scheme and remote hearings.  For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.

Alternative dispute resolution and the consequences of failure to engage, as well as the new witness statement requirements, are both hot topics in dispute resolution. Reed Smith London partners Elizabeth Farrell and Alexander Sandiforth discuss how alternative dispute resolution works in relation to commercial disputes. They also discuss the English court's new procedural requirements for witness statements. For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.

Six months on from the Halliburton v Chubb case, Reed Smith partners Vassia Payiataki and Thor Maalouf evaluate the impacts from the Supreme Court decision, and discuss the effect the ruling has had on the shipping and commodities sectors. For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.

As the shipping industry returns to the “new normal,” our new Reed Smith survey reveals how industry participants are adapting, and where they may find opportunities. Reed Smith partners Sally-Ann Underhill, Nick Austin and Brett Hillis analyze the findings and explain what you need to know during this unique time.  For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.

Will the shipping industry be able to meet its greenhouse gas target of halving emissions by 2050? What challenges await, and what is the EU doing to regulate carbon emissions from the sector? What can the shipping industry expect from the Biden administration regarding decarbonisation mandates from the U.S.? Reed Smith partners Nick Austin, Jennifer Smokelin and Adam Hedley tackle these questions and discuss what the industry is doing to improve the carbon efficiency of their ships. For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.

This episode covers the green credentials of liquefied natural gas, attitudes towards it, LNG growth markets, and what caused LNG's price spike in January 2021. Hear from Reed Smith partners Antonia Panayides, Kevin Keenan and James Atkin. For more information, please visit Reed Smith's Energy & Natural Resources or Transportation pages.