TT Talk - Major regulation affecting cargo shipments
According to Information Paper 40/2009 published by ICHCA International, security regulations for air and sea cargoes in the EU and US are being made increasingly strict. Already, specific data on the contents of all containers headed for the US must be sent to the US Customs and Border Protection at least 24 hours before loading at the foreign port. The US is now working toward a 100% cargo screening of everything entering the country by 2010 - a goal that many insist is almost impossible. In a separate initiative, the EC is running trials on technology-based solutions for better container security on imports from Asia to the EU.
In the effort to improve security measures, many worry that the costs will be too high, especially in the current times of economic insecurity. These concerns are well-founded, not only when taking into account the monetary strains but also in considering the immense scale of such requirements.
Many believe a more feasible alternative would be a practical, intelligence-led approach to security through an effective selection process for targeting suspicious cargo. The reality is that regardless of the resolution, there is a steady movement toward more stringent security in the supply chain. This must always be taken into account when planning the transport of goods in order to avoid loss.
The importance and impact of careful drafting of contracts is exemplified in this UK Supreme Court decision. While the ruling brings clarity to English law, it represents congruence with other jurisdictions. It is most prudent to be deliberate in documenting law and jurisdiction choices in contracts.
This first webinar in our ship fire series focuses on specific issues relating to the cargo loaded on board, looking into practices to combat non-declaration and mis-declaration, as well as profiling the risk-based stowage approach.
This Circular is to raise awareness of an expansion in United States sanctions, targeting the construction of the Nord Stream 2 and Turkstream 2 pipeline projects and those who provide services in connection with either project, including related insurance.
