Law News

Turkey-based tanker operator Palmali on Friday lost its London lawsuit against the trading arm of Russian oil producer Lukoil over a purported deal to provide oil products.Palmali, controlled by Azerbaijan-born businessman Mubariz Mansimov, first sued Lukoil's Swiss subsidiary Litasco at the High Court in 2017 and was initially seeking nearly $2 billion.The value of Palmali's case was substantially reduced, however, after Litasco succeeded in having much of the lawsuit thrown out in 2020.Palmali was, by the time of the trial earlier this year, seeking just over $120 million for Litasco's alleg

Anti-whaling activist Paul Watson will remain in detention in Greenland while Denmark decides whether to extradite him to Japan, police in the autonomous Danish territory said on Wednesday.The 73-year-old U.S.-Canadian, founder of the Sea Shepherd conservationist group and the Captain Paul Watson Foundation, was taken into custody by police when his ship docked at the port of Nuuk on July 21.Watson will remain in detention until Dec. 4, police said in a statement."It is unfortunately as expected…

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels,  influential administrations seek to accelerate towards net-zero or even zero by 2050.