Arrest of a Vessel as a Security for Creditor’s Claims in Maritime Disputes

Maritime freight transport represents a pivotal aspect of international trade. According to the UN, over 80% of global trade is conducted by sea and, by 2050 some experts expect a triple increase in the demand for maritime freight transport.

With heightened pressure from the western sanctions, the risks of maritime disputes, including the one arising from charterparties, maritime liens, cargo loss and damage, are increasing. One of the means of providing additional security to the creditor, as well as a potential bargaining chip during negotiations, is a maritime arrest, the procedure for which is characterized by complex international and national regulations.

Read more about this legal remedy and intricacies of its application in our alert.

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