An Introduction to LLM in Shipping Law.pdf

An Introduction to LLM in Shipping Law Presented by: Prof. Miriam Goldby, Lecturer and Director to the LLM International Shipping Law and Dr. Antigoni Lykotrafiti from the Centre for Commercial Law Studies. Date: 15 June 2020 Why is Shipping Important? - Shipping is the life blood of the global economy. In 2018, a total of around 11 billion tons of goods were loaded. - Without shipping, the import/export of affordable food and goods would not be possible - half the world would starve and the other half would freeze! - Ships are technically sophisticated, high value assets (larger hi-tech vessels can cost up to USD200million to build). - The operation of merchant ships generates an estimated annual income of over half a trillion US Dollars in freight alone. - Shipping is by its nature a non-standardized commodity: every ship is different, every port is different and every voyage subject to a huge variety of risk factors. - Shipping is touted as being the least environmentally damaging form of commercial transport. Discussion of... - International Conventions - Standard contract terms (privately made law) - The commercial context and typical contractual relationships - Contractual breaches and their resolution - English courts' interpretation of transnational/international law - Current industry developments - How the law responds to practice Incidents at Sea - Incidents at sea include things such as: • Collisions between vessels or between vessels and fixed and floating objects. • Attack by pirates or hijackers. • Taking of emergency action to deal with perils of the seas. • Fires and explosions on board. - Incidents can cause pollution and have an environmental impact. - Crews and passengers can also be impacted. - A large number of disputes arises due to incidents at sea. - These incidents can cause contracts to be entered into, particularly salvage contracts. - They also will call into operation insurance contracts. - • Hull and Machinery (H&M) • Cargo • Protection & Indemnity (P&I) Prompt action can mitigate the damage caused by the incidents, and standards and best practices have evolved to ensure this happens. Regulation has also developed to this end. Insurance - Shipping is inherently high risk and forms of marine insurance have been known to exist for many centuries. - Insurance is about understanding and pricing risk, and ensuring marine adventures continues to be a highly challenging activity. - In difficult economic times disputes are more likely to arise. - We have seen many developments in marine insurance law and widely used standard contractual terms in recent years. Why is Aviation Important - According to the International Civil Aviation Organization (ICAO), there were close to 4 billion origin-destination passenger journeys worldwide in 2018. - According to the International Air Transport Association, air transport accounts for only a small, less than 1%, proportion of world trade by volume, but for a much larger share by value, of about 33%. - Despite aviation's contribution to growth, air transport law is a field that has been neglected by legal scholars, so much so that ICAO has been instructed by its 193 Member States to take all possible action to promote the teaching of air law. - Considering that aviation accounts for 3,6% of the world's GDP, air law is not a niche field to specialize in, but a springboard to an exciting career. - The Centre for Commercial Law Studies is one of the very few academic institutions globally that offer research-led teaching of public and private air transport law. Employability - International Organizations: • International Civil Aviation Organization (ICAO) • International Transport Forum at the Organization for Economic Cooperation and Development (ITF/OECD) • International Air Transport Association (IATA) • United Nations - Public sector (civil aviation authorities, ministries of transport...) - In-house lawyer (airlines, airports...) - Aviation consultant (law firms specializing in aviation) ICAO on the Teaching of Air Law - The Assembly, considering the undoubted importance for the Organization and the States of the specialized teaching of air law and the desirability of fostering knowledge of this important subject: • Invites the Council to take all possible action to promote the teaching of air law in those States where it is not yet available; • Urges the States to adopt appropriate measures which would further the achievement of the above objective.