Maritime Industry Updates Archives - Fichte & Co Legal

Impact of a Strait of Hormuz Closure on Shipping & Insurance

Anna Mkrtchyan — Wed, 04 Mar 2026 09:08:10 +0000

Strategic significance and the current disruption As of 28 February–3 March 2026, reporting indicates a sharp escalation in Gulf hostilities and a de facto interruption of safe commercial transits through the Strait of Hormuz, driven by attacks on more than five tankers by drones and missiles, and clear threats issued by the IRGC against transiting …

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UAE Ratifies Key International Maritime Conventions

Jasmin Fichte — Thu, 16 Oct 2025 05:33:34 +0000

In a major step towards strengthening maritime safety and environmental protection, the United Arab Emirates (UAE) has officially ratified two landmark international maritime conventions — the International Convention on Oil Pollution Preparedness, Response and Co-operation, 1990 (OPRC 1990) and the Nairobi International Convention on the Removal of Wrecks, 2007 (Nairobi WRC 2007). This development marks …

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The UK is Dropping Tax-Free Status – Will Shipowners Set Sail for the UAE?

Manik Verma — Fri, 25 Jul 2025 05:50:21 +0000

From April 2025, the United Kingdom will eliminate its long-standing non-domiciled tax regime. The new rules will introduce a residence-based system, taxing global income and gains after a four-year transition period. For many international shipowners, this means the end of a structure that offered flexibility, tax efficiency, and strategic advantages for decades. The reform goes …

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Breaking News in the UAE: The Nairobi Wreck Removal Convention is Almost Here!

Jasmin Fichte — Fri, 22 Nov 2024 06:45:28 +0000

In addition to the 31 Conventions of the International Maritime Organization (“IMO”) ratified by the United Arab Emirates (“UAE”), the country is on the cusp of achieving another milestone in its endeavor to make significant strides as an international maritime hub. The UAE is one step away from being the 71st state to ratify the Nairobi …

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Essential Guide to Registering Your Yacht in the UAE

Carola Uva — Fri, 16 Aug 2024 07:38:36 +0000

In the UAE, maritime activities are regulated by distinct legal frameworks tailored to accommodate different types of vessels and demands of different shipowners and ship operators. While the rules for registering a commercial vessel are provided for by the UAE Federal Decree Law No. 43/2023 (the New Maritime Law), the rules for registering a yacht …

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