Overview

Japan is a key country for the shipping industry, and while it is too early to assess the full extent of the humanitarian and financial impact of the earthquake and tsunami on the maritime industry, it is already evident that the repercussions will be wide ranging and potentially long lasting.

One of the Japanese authorities’ first reactions was to close all Japanese ports, halting all loading and discharging operations. While many ports in the south and west have since re-opened, a number of ports on the north and east coasts remain closed, not only due to the earthquake and tsunami damage, but in response to the ongoing (and perhaps more worryingly, increasing) threat of nuclear fallout at the Fukushima nuclear plant.

Tsunami warnings continue to be issued and owners/charterers are encouraged to remain in close contact with local agents and port authorities so they can obtain the most up to date information regarding the status of Japanese ports.

Ship-owners, managers and charterers will already be looking ahead to consider the contractual arrangements they have in place connected with Japan and other affected areas.

Holman Fenwick Willan provides the details.

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