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.
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While Andrew Iyer was practising as a solicitor'Shipping & Trade Firm of the Year in England' 2023
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From 'The Legal 500' while Andew Iyer was practising as a solicitor“[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“[Iyer is] one of the most experienced energy lawyers that I have come across. His energy practice has a unique offshore flavour which suits our requirements”
From the 'International Law Office, Client Choice Guide' while Andrew Iyer was practising as a solicitor'Energy & Natural Resources Firm of the Year in England' 2023
Corporate Intl Magazine Global Awards“[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 Awards'Leading Arbitration Specialist UK' 2022
AI Global Excellence Awards“[Iyer] is very cost effective, efficient and proactive - he takes the initiative in speeding up recalcitrant opponent lawyers to the negotiating table”
From the 'International Law Office, Client Choice Guide' while Andew Iyer was practising as a solicitor“Iyer has a deep understanding of international markets and an impressive track record in arbitration and commercial disputes”
From 'Chambers Guide to the Legal Profession' 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“Andrew Iyer continues to glean high praise from clients”
From 'The Legal 500' while Andrew Iyer was practising as a solicitor'Arbitration Advisers of the Year' 2021
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