Menu
Blockchain: Bills of Lading & Official Documents

News / / Singapore

Carriers, charterers, traders and shippers commonly experience the issue of original bills of lading arriving late at a port of discharge, thereby depriving the lawful holder or consignee of timely taking delivery of the cargo. This may delay cargo operations, lead to incurrence of demurrage or detention fees, directly or indirectly contribute to port congestion and/or the incurrence of port costs and expenses.

Over the years, the shipping industry has developed ways of addressing this issue. In particular, the consignee and/or charterers can issue a Letter of Indemnity (“LOI”) for the benefit of the carrier for the purpose of procuring the early release of the cargo without the need to tender an original bill of lading. The effect of this is to provide the carrier with a form of security against claims it may face as a consequence of releasing the cargo without insisting on the provision of original bills of lading.

Please click here to view the rest of the article.

Wole Olufunwa

Wole Olufunwa Director (Partner)

Related sectors:

Related news & insights

Insights / Freeports: how do they benefit businesses in the UK?

23-04-2021 / Maritime

In the 2021 Spring Budget, Rishi Sunak announced the creation of eight Freeports in England. These Freeports offer potential incentives for businesses located in such zones to benefit from tax breaks, the ability to import and export goods free of tariffs and reduced administrative burdens. They may also provide opportunities for businesses supporting these activities, including shipping companies, construction companies and service providers.

Freeports: how do they benefit businesses in the UK?

Insights / Shipping E-brief March 2021

25-03-2021 / Maritime

The Shipping E-Brief is a publication providing you with key information on legal decisions and developments in shipping and related business areas.

Shipping E-brief March 2021

Insights / Court implies term into hire provision to give it business efficacy

19-03-2021 / Maritime

Regal Seas Maritime SA v. Oldendorff Carriers GmbH (New Hydra) [2021] EWHC 566 (Comm)

Court implies term into hire provision to give it business efficacy

Insights / Court declines to imply term on additional security into guarantees

18-03-2021 / Maritime

CVLC Three Carrier Corp and another v. Arab Maritime Petroleum Transport Company [2021] EWHC 551 (Comm)

Court declines to imply term on additional security into guarantees

Insights / Court considers whether vessel remained on hire during period of arrest – what a difference a word makes

17-03-2021 / Maritime

Navision Shipping A/S v. Precious Pearls Ltd and Conti Lines Shipping NV v. Navision Shipping A/S (m.v. Mookda Naree) [2021] EWHC 558 (Comm)

Court considers whether vessel remained on hire during period of arrest – what a difference a word makes

Insights / Seeing double? Legal considerations for granting an “anti-anti-suit injunction”

25-02-2021 / Maritime

Specialised Vessel Services Limited v. MOP Marine Nigeria Limited (SVS Cochrane) [2021] EWHC 333 (Comm)

Seeing double? Legal considerations for granting an “anti-anti-suit injunction”

Quick links

Laura Livingstone

“I really enjoyed dealing with Laura, it only took her one meeting with HR to get them on board with what I asked for.”

- Marina Duclos

Colette Kelly

“Ranked lawyer. Colette Kelly has a wide-ranging practice advising clients on POCA issues related to fraud and money laundering. She has notable expertise in relation to third-party recovery. "She has a good knowledge of the law, has a realistic approach to client positions, and offers pragmatic solutions." "She has good interpersonal skills and is dedicated to her matters and clients. She is able to deal with difficult, highly charged situations."

- Chambers and Partners 2021 Edition

Colette Kelly

“Ranked lawyer. Sources laud Colette Kelly as "incredibly bright, personable and dedicated." She continues to act for clients on complex POCA matters, and is particularly experienced in handling sophisticated confiscation proceedings relating to alleged money laundering.”

- Chambers and Partners 2020 Edition

Colette Kelly

“She is incredibly hard-working and industrious, she would do anything for a client. She gives them undivided attention. She explains the law very well to clients who have never been involved in these types of cases.”

- Chambers and Partners 2019 Edition