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EBA Shipping Talks: “Challenges and solutions for the maritime industry 2024”

07/ 11/ 2024
  During wartime, the maritime industry faces numerous challenges, including disrupted logistics chains, fuel price instability, restrictions in international trade, and security threats to shipping. Innovation and adaptation to new conditions are critical for reducing environmental impact and improving efficiency. Therefore, the Southern Ukrainian Office of the European Business Association, together with Interlegal, organised EBA Shipping Talks: “Challenges and solutions for the maritime industry 2024” to promote joint strategies for ensuring stability and development in the maritime industry and to find solutions to the most pressing issues facing maritime businesses. The event was opened by Kateryna Morozova, Head of the Southern Ukrainian Office of the European Business Association, and Artur Nitsevych, Partner at Interlegal. In their opening remarks, they stressed the critical importance of businesses adapting to rapidly changing conditions and highlighted the value of cooperation among key industry players. The meeting was moderated by Karina Horova, Partner and Lawyer at Interlegal. The programme of the event was rich and covered a range of important topics: Natalia Boiko, Director at Atria Insurance Broker, discussed grain cargo insurance in the context of war risks, focusing on new challenges in the era of terrorism against transport infrastructure. Dmytro Kazanin, owner of Teus Terminal, presented on integrated logistics, demonstrating how to effectively combine land and sea transport to maximise exports. Mykyta Kocherba, Senior Lawyer at Interlegal, covered maritime incidents, military risks, and expenses, which are crucial considerations for companies in the current environment. Taras Dragan, also a Senior Lawyer at Interlegal, concluded the presentations with an overview of practices regarding cargo quantity and quality in maritime transport. During Shipping Talks, key industry participants identified the main challenges faced by market players and focused particularly on the following: Maritime incidents and how to address them: Incidents at sea can have serious consequences, including loss of life, environmental disasters, and significant financial losses. Market participants must be prepared for such situations, which requires thorough planning and preparation. This includes creating effective risk management systems, conducting regular crew training, and implementing modern safety monitoring technologies. Military risks and expenses: The impact of conflicts on maritime transport—conflicts can significantly affect maritime transportation, causing delays, increased insurance costs, and a reduction in trade volumes. During wartime, companies need to account for potential military risks in their management strategies. This might include route redirection, ensuring secure ports for loading and unloading, and developing special insurance conditions. Demurrage: Demurrage, as is well-known, is one of the highest financial costs in maritime transport. Management systems that reduce demurrage can significantly improve business profitability. Additionally, understanding the various types of maritime incidents that may occur during cargo transportation and how to prevent them is crucial. Knowledge of legislation, regulations, and practices in this area can help companies reduce risks and optimise processes, ensuring contract reliability. Challenges and opportunities for the Ukrainian maritime transport market: In times of war and economic hardship, the Ukrainian maritime transport market faces unprecedented challenges requiring flexibility and adaptability. The destruction of traditional routes, reduced cargo volumes, and shifting demand require new approaches and innovative solutions. However, these challenges also open up new opportunities: companies that can quickly respond to changes may gain advantageous market positions by offering new services or adapting existing ones to new realities. Thanks to our colleagues from Interlegal, the speakers, and representatives of maritime and shipping companies for an engaging dialogue and fruitful collaboration.
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During wartime, the maritime industry faces numerous challenges, including disrupted logistics chains, fuel price instability, restrictions in international trade, and security threats to shipping. Innovation and adaptation to new conditions are critical for reducing environmental impact and improving efficiency. Therefore, the Southern Ukrainian Office of the European Business Association, together with Interlegal, organised EBA Shipping Talks: “Challenges and solutions for the maritime industry 2024” to promote joint strategies for ensuring stability and development in the maritime industry and to find solutions to the most pressing issues facing maritime businesses.

The event was opened by Kateryna Morozova, Head of the Southern Ukrainian Office of the European Business Association, and Artur Nitsevych, Partner at Interlegal. In their opening remarks, they stressed the critical importance of businesses adapting to rapidly changing conditions and highlighted the value of cooperation among key industry players. The meeting was moderated by Karina Horova, Partner and Lawyer at Interlegal.

The programme of the event was rich and covered a range of important topics:

  • Natalia Boiko, Director at Atria Insurance Broker, discussed grain cargo insurance in the context of war risks, focusing on new challenges in the era of terrorism against transport infrastructure.
  • Dmytro Kazanin, owner of Teus Terminal, presented on integrated logistics, demonstrating how to effectively combine land and sea transport to maximise exports.
  • Mykyta Kocherba, Senior Lawyer at Interlegal, covered maritime incidents, military risks, and expenses, which are crucial considerations for companies in the current environment.
  • Taras Dragan, also a Senior Lawyer at Interlegal, concluded the presentations with an overview of practices regarding cargo quantity and quality in maritime transport.

During Shipping Talks, key industry participants identified the main challenges faced by market players and focused particularly on the following:

  • Maritime incidents and how to address them: Incidents at sea can have serious consequences, including loss of life, environmental disasters, and significant financial losses. Market participants must be prepared for such situations, which requires thorough planning and preparation. This includes creating effective risk management systems, conducting regular crew training, and implementing modern safety monitoring technologies.

  • Military risks and expenses: The impact of conflicts on maritime transport—conflicts can significantly affect maritime transportation, causing delays, increased insurance costs, and a reduction in trade volumes. During wartime, companies need to account for potential military risks in their management strategies. This might include route redirection, ensuring secure ports for loading and unloading, and developing special insurance conditions.

  • Demurrage: Demurrage, as is well-known, is one of the highest financial costs in maritime transport. Management systems that reduce demurrage can significantly improve business profitability. Additionally, understanding the various types of maritime incidents that may occur during cargo transportation and how to prevent them is crucial. Knowledge of legislation, regulations, and practices in this area can help companies reduce risks and optimise processes, ensuring contract reliability.

  • Challenges and opportunities for the Ukrainian maritime transport market: In times of war and economic hardship, the Ukrainian maritime transport market faces unprecedented challenges requiring flexibility and adaptability. The destruction of traditional routes, reduced cargo volumes, and shifting demand require new approaches and innovative solutions. However, these challenges also open up new opportunities: companies that can quickly respond to changes may gain advantageous market positions by offering new services or adapting existing ones to new realities.

Thanks to our colleagues from Interlegal, the speakers, and representatives of maritime and shipping companies for an engaging dialogue and fruitful collaboration.

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