Azov and BlSea & MED Cargo Flow Outlook 2107

On September 21, 2017, Interlegal participated actively in the international conference Azov and BlSea & MED Cargo Flow Outlook 2107 held in Odessa.

Low commodity markets and tonnage oversupply are now a good reason for both charterers and shipowners to analyze and forecast export cargo flows with most thoroughness. A clear perspective on export potential helps charterers optimize their freight expenses and gives shipowners more accurate risk assessment opportunity.

About 100 Charterers, traders, ship operators, owners and brokers came to Odessa to discuss upcoming trends and possible logistic challenges of 2018/2019 Azov and BlSea freight market.

Interlegal partner Natalya Myroshnychenko presented a report “Ship arrest and release in Black Sea and Mediterranean Region”. It is a vital theme: today each shipping market player pays much attention to its costs and does not wish to sustain losses. In the latter case it wishes to charge losses including by means of arresting the debtor’s assets. From the other hand, arrested ship owner also counts its costs and tries to prevent vessel idle stay which may result in extra expenses. The report caused a vivid interest among the audience, followed by active discussion of shipowner interest defense mechanisms in case of non-payment under the charter party and the issues of cooperation with charterers and cargo owners in case of ship/cargo arrest.

Interlegal partner Arthur Nitsevych moderated the second session which touched bulk cargo export review, current and new cargo flows.

Interlegal senior lawyer Andrey Perepelitsa participated in the panel discussion devoted to disbursement decrease at the Ukrainian sea port and risk hedging at the sea transportation market – final accord of the main program.