News Alert: Economic Substance Requirements Guidance Issued

Introduction On 11 September 2019, the UAE issued Ministerial Decision No. 215 of 2019 on the Directives for the implementation of the Economic Substance Regulations (ESR). The ESR was earlier published in April 2019 as…

Gulf Tanker Attacks: Implications on Costs

Tanker attacks have a long history indicating that it could be a powerful weapon in international conflict, which can significantly destabilize an economy. During the war in the 1980s, oil terminals and tankers were under…

OFAC Advisory on Iran Sanctions

In its September 4, 2019 Press release The Treasury's Office of Foreign Assets Control (OFAC) issued a new shipping advisory for all the Maritime community. This came as a strong warning to be vigilant of…

Fichte & Co Seminar Tackles the IMO 2020 with the Forces of UAE and Singapore

The seminar aligned both the UAE and Singapore with the vision of the International Maritime Organization as the 2020 sulphur cap lurks around the corner Fichte & Co Legal, one of the UAE’s leading law…

A Special Analysis on the UAE Maritime Commercial Law

A special analysis on the UAE Maritime Commercial Law: The current status and what is needed to be done to improve it In line with government's vision, the UAE Federal Transport Authority ("the FTA"), being…

Legal Considerations On Blockchain-Based Bill Of Lading

The utility of blockchain technology extends to trade finance and shipping, as recent developments in the shipping industry have shown.  Shipping companies, technology firms, and government agencies are reportedly collaborating to use blockchain technology to…

Endofa could be stuck with million dollar claim in Dubai

A claim in Dubai of close to USD 1 million against Endofa will likely disappear because the bunker company is now closing its company in the desert state, says a local lawyer specialized in shipping.…

UAE cuts ties with Qatar – Recent Developments

The UAE Ministry of Foreign Affairs issued a statement on Monday 5th June 2017 that United Arab Emirates, Saudi Arabia, Egypt and Bahrain were severing diplomatic ties with Qatar, as tensions escalate in the region…