Renewed Iran attacks just hit our LNG operation. War-risk premiums jumped 400% overnight. We've got 14 active charterparties through the Strait — and three of our shipping counterparties just got named in the OFAC expansion. What's my exposure, and what do I send the board by Friday?
14 contracts in scope, 47 counterparties touched, 4 jurisdictions live. Two regulatory cliffs in the next 30 days.
- 14 LNG charterparties — 11 spot, 3 long-term TC
- 9 use BIMCO 2022 FM clause; 5 use bespoke clauses that don't list "sanctions"
- 3 carriers + 1 broker just added to OFAC SDN; 2 more on EU adjacency list (effective 14 May)
- Cape route adds 14-21 days; war-risk premium uncapped under existing CP forms
Seven items, ordered by deadline. Two are board-Friday.
- Sanctions screen all 47 downstream counterparties (today)
- Force-majeure invocation drafts for 9 BIMCO contracts (today)
- 5 bespoke-clause contracts — risk memo + amendment proposal (48h)
- Alternative-routing rider for active spot fixtures (week 1, maritime counsel)
- Insurer notification + war-risk re-rating (week 1)
- EU 14 May compliance attestation (week 2, EU counsel)
- Board memo: exposure, scenarios, Friday decisions (today)
47 counterparties checked across OFAC SDN, EU Consolidated, UK Sanctions, UN ISIL/Al-Qaida. Six hits.
- 6 designated — 3 carriers, 1 broker, 2 chartering agents
- 4 borderline — non-listed, indirect ownership trail to listed entity (>50% rule)
- 37 clear
Four drafts ready. Force-majeure letters built from your standard form. Every citation lives in the side panel.
Three counsel teams shortlisted. The matter package is built. Click — it goes.
Matter package, ready to send
Includes: 14-contract exposure brief, sanctions screen on 47 counterparties, FM invocation drafts, charterparty riders, board memo. Daniel sees the file and accepts/declines in his inbox.