The Legal 500

Maritime Guidelines and Liner Consortia Block Exemption

Since 1987 EU Block Exemption Regulation 4056/86 has allowed liner conferences to fix prices and regulate capacity under certain conditions. This will cease on October 18 2008, following which the slightest violation of the competition rules may trigger dawn raids, investigations and penalties, including significant fines and criminal liability.

Wikborg Rein Shipping Update 2/2008 is now available for download. This issue covers matters related to i.a. the effects of the credit crunch in the shipping market and the general tendency in the legal market of increased litigation related work.

Most of our predictions for 2007 did indeed prove right. The high level of activity in most shipping and offshore segments continued, and our teams have been growing and are busier than ever. In particular, we have grown within the oil service sector, with a focus on offshore projects all over the world.  

Prior to the final entry into a FPSO lease contract between a contractor and a field operator, there is a long and sometimes winding road of preparations and negotiations. Decisions made and positions taken in this pre-contractual phase may have an important impact on the final risk allocation, and thereby directly and indirectly the net income of the project. The contractor should keep this in mind, as early wins could lead to later damage to the success and profitability.

Wikborg Rein Shipping Offshore Update

Our offshore team has been as busy as the rest of the offshore market for the last 2 years and is now in the phase of taking delivery of rigs contracted in 2004 and providing assistance with employment contracts for the rigs now hitting the market. It has been a challenging period and we have worked on more than 40 different rig projects, assisting with everything from construction/refurbishment contracts, debt/equity financing, stock exchange listings and employment contracts. This would not have been possible without our experienced offshore team with English and US lawyers, network into the Norwegian offshore market and offices close to the shipyards in South East Asia, in particular in Singapore.

The concept and principles of general average date back thousands of years ago and are based on the notion that the ship, cargo and freight form part of a common maritime adventure.