News
The Rotterdam Rules seem to have now cleared a significant hurdle on their way to the formal international rules on maritime carriage of goods.
The United States State Department has completed its ratification package for the rules formally titled ''the United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea,'' said the Standard Club on its Website.
The package has been sent to relevant government agencies including the Maritime Administration (MarAd), the Federal Maritime Commission (FMC), and the Department of Justice (DOJ) for inter-agency review.
According to the insurance association, it is anticipated that the review will be complete by the end of July and will then go up the chain at the State Department and to the President. The President will then send them to the Senate for its advice and consent. Given the delays so far, it is risky to make a prediction, but the Rotterdam Rules have now cleared a significant hurdle on their way to ratification by the US. If and when the US ratifies them, the remaining major trading nations are expected to follow.
The Standard Club is a mutual insurance association based in London, owned by its shipowner members and controlled by a board of directors drawn from the membership. The club insures shipowners, operators and charterers for their liabilities to third parties arising out of ship operations.
