Paying Ransoms - could the US make this more difficult?
Tuesday 16 March, 2010
According to a number of reports in trade press and recent comments from the US State Department, the US administration seems to be flying a kite to test national and industry reaction to an initiative which may use existing UN Resolutions and the US OFAC (Office of Foreign Assets Control) Regulations (“Regulations”) to allow them to take action, including the banning of ships involved from US ports, against shipowners who pay ransoms to Somali pirates.
Stephen Askins reports on possible new US regulations on the payment of ransoms to pirates and the effect these could have on shipowners and others involved in the ransom process.
Paying ransoms - could the US make this more difficult? (pdf)
In a recent interview Stephen Askins told the BBC News website that the debate on the use of armed guards was one that polarised the industry.
Date: Wednesday 23 - Thursday 24 May, 2012
Location: One Drummond Gate, London
Ince & Co partner Chris Kidd is speaking on “Managing conflicts and disputes”. He is also chairing and moderating some sessions.
Date: Wednesday 23 - Friday 25 May, 2012
Location: London
Ince & Co partner Fionna Gavin will be speaking during the morning of the third day on “Tanker Charterparties - time and voyage”. Which will cover the differences in, and justifications for, tanker chartering.
Date: Thursday 24 May, 2012
Location: London
Ince & Co partner Faz Peermohamed will be speaking during day one of the conference on “Shipping: The Titanic, Prestige, Costa & Pirates”.
Date: Tuesday 29 - Wednesday 30 May, 2012
Location: Cowes, English Channel, Isle of Wight, Solent
Ince & Co will be taking part in the Lutine Lineslip Regatta, a Lloyds Yacht Club Event for the Insurance Industry, in May 2012.
Date: Tuesday 29 May, 2012
Location: British Consulate, Hong Kong
Ince & Co partner Denys Hickey will be speaking at the forum on “Contractual challenges in the LNG distribution supply chain”. The session will cover balancing long term security and flexibility in contracts and identifying and mitigating risks in LNG supply contracts.