Tag: security measures

The Legal Committee (LEG) met in person for its 111th session at IMO Headquarters in London (with hybrid participation) from 22 to 26 April 2024. The Committee approved the revision of the Guidelines for accepting insurance companies, financial security providers and the International Group of Protection and Indemnity Associations (P & I Clubs). The updated Guidelines will be issued via a LEG circular. 

The Legal Committee (LEG) met in person for its 111th session at IMO Headquarters in London (with hybrid participation) from 22 to 26 April 2024. The Committee deals with all legal matters within the scope of IMO, including issues relating to liability and compensation, fair treatment of seafarers and the fraudulent registration of ships. 

Due to recent threats from Yemen's Houthi rebels, the Panama Maritime Administration strongly recommends all Panama Flag Registry vessels to take all security measures and avoid transiting the Red Sea, with increased caution through the Strait of Bab al Mandeb.

From January to December 2023, Indonesia, Peru, Philippines, Ghana, and Singapore Straits are the locations that contributed to 70% of the total 120 incidents reported in the Panama Maritime Authority. As such, the Administration encourages all Ship- owners/Operators and Masters to take the proper maritime security measurements in order to reduce and minimize the risks associated.

The World Shipping Council (WSC) expressed gratitude to EUNAVFOR on the launch of Operation ASPIDES, a defensive maritime security operation to  safeguard freedom of navigation in the Red Sea  - and adjacent international waters.

Additional grain vessels have been rerouted from the Suez Canal to take routes around the Cape of Good Hope the previous week due to ongoing apprehensions about attacks on ships in the Red Sea, Reuters highlights. 

According to news, the Houthis, supported by Iran, have asserted accountability for a dual missile assault on a freight vessel in the Red Sea on 12th February. This incident marks the most recent attack since November as they continue to enforce a blockade on the crucial trade route.

According to Bloomberg, merchant ships owned by China are receiving substantial reductions in their insurance premiums while traversing the Red Sea. This development underscores the impact of Houthi attacks in the region, affecting the business interests of vessels linked to Western entities.

Members of the U.S Department of Transportation’s (USDOT) Office of Multimodal Freight held a call with stakeholders across the United States supply chain on issues and disruptions stemming from the ongoing situation in the Red Sea.

Companies engaged in trading commodities like iron ore and grain are resorting to legal threats and contract modifications to influence shipowners to opt for the Suez Canal route, despite its increased danger, in exchange for cost savings and quicker transit times.