As we witness the evolution of the regulatory landscape across the MENA region, it was timely for us to investigate and lift the lid, on what is keeping the region’s legal decision-makers awake at night.
Our first-of-its-kind report titled Legal Leaders in MENA is out now! It captures the views of 700 legal decision-makers across nine countries and 13 industry sectors in MENA, as well as in-depth interviews with experts from key sectors such as financial services and education to name a few, which revealed the emerging risks and priorities challenging the legal sector across the region.
Read the full report and share your feedback with us at firstname.lastname@example.org.Read the full report
On 13 February 2020, Port of Fujairah issued a ‘Notice to Mariner No. 272’ notifying marine agents, ship owners and oil terminal users that with immediate effect, oil tankers, LPG, LNG and gas carriers calling at Port of Fujairah and offshore anchorage, must all hold insurance certificates issued by one of the 13 International Group of P&I Clubs.
The implications for vessels entered with P&I insurers outside of the IG could be considerable, and owners and their insurers should be mindful of the risk of breaching charterparties, off-hire events or non-recoverable demurrage, or even missing bunkering commitments.
Fortunately, the Port of Fujairah declared that vessels that were already at outer-port anchorage before 13 February 2020 will be exempted from the new requirements. As of today’s date, it is unclear whether the Port of Fujairah will consider granting further specific-exemptions. We are aware that negotiations between some vessel owners, their insurers and the port, are still ongoing.