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ICS Fears Expanding Arrests

Slow and steady – that is likely to be any progress of a new convention on the Arrest of Ships, following a joint Unctad/IMO deliberation in London. At least there will be a new convention – the meeting decided as much. But there will be no follow-up to discuss the detail of changes, of import to shipowners and lenders, until December, 1996 in Geneva.

One delegate described the meeting as “not very good,” adding that the lack of progress was “pretty hopeless.” In fact, delegates could not complete reading the draft convention during the week. Much time was taken up in discussing whether there should be a new convention, or whether there should be a protocol added to the existing 1952 Arrest Convention. Because of the wide acceptability of this convention several governments – notably Germany, Greece and Poland – felt this convention gave uniformity around the world. This could be lost with a new convention, he argued.

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Written by: | Categories: Marine Money | November 1st, 1995 |

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