Sea Venture newsletter Issue 12 Introduction ..........................................3 Recoverable Damages and The “Achilleas” - A New Approach? ............4 Queen Mary 2 Reception ......................5 U.S. - Emerging Maritime Law on Punitive Damages ..................................6 Due Diligence Obligation to Maintain ..........................7 Which Law Applies to My Contract? Rome Convention Replaced by New EU Regulation................................8 Steamship Mutual’s Loss Prevention Materials ............................10 U.S. Criminal Jurisdiction over MARPOL Offences ..............................11 Maritime London Officer Cadet Scholarship Scheme ............................11 EU Directive on Criminal Sanctions in Respect of Ship Source Pollution ........12 Arbitration Clauses in U.S. Crew Contracts....................................12 U.S. - Detention of Crew in MARPOL Violations..............................13 Bourbon Dolphin a Case History ......................................14 Nomination Notices under Contracts of Affreightment..................14 Shipbuilding Contract - Ability to Claim Damages at Common Law ........15 Asbatankvoy - an Insight into the Interpretation of Clause 4(c) ................16 Cargo Claims for Economic Loss..........16 Filipino Crew Claims 120 Day Update ..................................17 Demurrage and Laytime Who is Responsible for Delay? ............18 Setting Aside English Default Judgment ..............................18 The Museum at the Top of the World ............................................19 The “Unsafe Port” Dilemma Who is at Fault? ..................................19 Contractual Terms Be Careful What You Sign ..................20 Requirement to Obtain Rightship Approval ..............................20 U.S. - Enforcement of Nontank Vessel Response Plan Requirements ..............21 Anti-Suit Injunctions Contrary to EU Law ............................................21 Structure under Construction a Jones Act Vessel?..............................22 Dubai Court of Cassation Confirms Application of 1976 Convention ........22 Recent Publications ..............................23 Contents 2 Editorial Team Sue Watkins Naomi Cohen Malcolm Shelmerdine Sea Venture is available in electronic format. If you would like to receive additional copies of this issue or future issues in electr onic format only please send your name and email address to seaventure@simsl.com. Feedback and suggestions for futur e topics should also be sent to this address. The world financial markets are currently facing unprecedented levels of turbulence. While it is generally accepted that high levels of market volatility will continue and that the impact of the credit crisis is likely to extend in to areas of the commercial world well beyond the banking sector, there is no consensus among commentators on how severe, longlasting, or widespread any resultant downturn in the world economy may be. This uncertainty carries with it warning signals for the continuing strength of the shipping markets, which could impact the operations of both owners and charterers and consequently their P&I exposures as operating margins narrow, and claims and disputes increase. The importance of the Club’s service is highlighted at such times, not only in claims handling and dispute resolution but also in loss prevention initiatives, advice on legal issues, and the provision of information about topical issues and legal dev