Posted on: 28 October 2024
The Turkish-British Delivery Discussion board, organised my Maritime London in partnership with NorthStandard and the Turkish Chamber of Delivery (IMEAK), was held on 21 October 2024 in Istanbul, Türkiye.
Hosted on the Chamber’s Meeting Corridor, the occasion mentioned how geopolitical instability and enhanced reporting necessities each kind regulators and market contributors are affecting business, financing and insurance coverage dynamics available in the market. It additionally included a session specializing in Russian sanctions with audio system from the EU, UK and US governments, providing an summary of sanctions programmes and a dialogue round their enforcement.
Tamer Kiran, Chairman of the Board of Administrators, Turkish Chamber of Delivery open the occasion by delivering a welcome deal with.
The primary panel, entitled ‘Managing exterior intervention in transport markets’, was moderated by Jos Standerwick, Chief Govt of Maritime London, and mentioned the present geopolitical atmosphere, stressing although being distinctive, it’s not distinctive, and if the company reminiscence existed available in the market to be taught from previous experiences.
Melis Otmar, Chairperson of Marine Claims Sub-Committee at LIIBA (London & Worldwide Insurance coverage Brokers Affiliation) and Govt Director – Head of Marine Claims London at insurance coverage brokers Howden talked about how the London warfare dangers market demonstrated the urge for food and capability required to answer the present safety atmosphere, and the way it was responding to claims in operationally difficult places, and whether or not LOF was nonetheless offering the extent of certainty required to answer main casualties as rapidly as potential.
Metin Düzgit, Worldwide Chamber of Delivery Vice Chair and the Turkish Chamber of Delivery Meeting Member and Şadan Kaptanoğlu, previous BIMCO President and CEO of Kaptanoğlu Group commented on how the battle and crises over the previous few years modified how the transport trade approached danger administration and the best way by which shipowners have been defending seafarers and ships.
James Clayton, Associate of Campbell Johnston Clark LLP and Stefanos Fragos, Managing Director of Braemar Company Finance (Greece) talked about how since 2019, world provide chains have witnessed unprecedented disruption, placing vital pressure on provide and driving up charges, and what this meant for conventional lenders available in the market.
Jos Standerwick, Chief Govt of Maritime London, stated: “Maritime London recognises the geographical and business significance of Türkiye to the worldwide transport trade. The London market and the UK’s maritime skilled companies have a protracted and proud partnership with the Turkish shipowning and administration neighborhood. This discussion board supplied a possibility to have an open and trustworthy dialog with each market contributors and regulators in regards to the more and more complicated world buying and selling atmosphere.”
The second session featured shows from the US Workplace of International Asset Management, the UK Workplace of Monetary Sanctions Implementation and the EU Fee and targeted on the important thing sanction-related points affecting Russian commerce. This was adopted by an interactive panel dialogue, moderated by Mike Salthouse, Head of Exterior Affairs at NorthStandard, which introduced these complicated points to life via a real-world case research.
Mike Salthouse stated: “The worth of bringing Regulators into direct contact with the transport neighborhood can’t be overstated. Each side spoke freely and left with a a lot higher understanding of the opposite sides place. Finally that facilitates compliance and results in higher coverage.“
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