04 July 2024
Raising The Bar: EU Expands Sanctions on Russian Maritime and Energy Operations :
EU Council enacted Regulation (EU) 2024/1745, introducing stricter sanctions targeting Russia's transport, maritime and energy sectors. The stringent new measures aim to prevent the circumvention of existing sanctions and to increase economic and financial pressure on Russia amid the ongoing conflict in Ukraine.
20 June 2024
NEW DIRECTIVE FOR SAFER PILOTAGE SERVICES:
The Directorate General for Maritime Affairs has recently announced a Directive Regarding the Safety of Pilotage Services, which will come into force on 1 July 2024.
31 May 2024
THE LEGISLATOR INTRODUCES A MORE EFFICIENT AND FLEXIBLE CORPORATE GOVERNANCE IN TURKIYE:
As a result of the Turkish legislators' efforts to adapt the regulations to the current needs of companies, a new law.
22 May 2024
TURKEY INCREASES THE STATUTORY ANNUAL LEGAL INTEREST RATE FROM 9% TO 24%:
Pursuant to the Presidential Decree published in the Official Gazette on 21 May 2024, the legal interest rate received a big hike from 9% to 24% effective from 1 June 2024.
02 May 2024
THE 2012 LIABILITY LIMITS ARE REAFFIRMED BY THE ADMIRALTY COURT:
In a very recent judgement, the Istanbul 17th Commercial Court (established as the Admiralty Court in Istanbul) with jurisdiction to hear maritime disputes, ruled that the 2012 liability limits in the amendment to the 1996 Protocol to the 1976 Convention on Limitation of Liability in Maritime Claims are in force in Turkey.
17 April 2024
Pufferfish Menace: Ministry Takes Action!:
Measures are being taken to address the threat posed by pufferfish, those quirky yet troublesome sea creatures. Recognizing the significant damage inflicted by these invasive creatures on the fishing industry and the marine life, the Ministry of Agriculture and Forestry (“Ministry”) has introduced a new communique to tackle the pufferfish problem under which fishermen are incentivized to hunt for pufferfish.
04 April 2024
INCENTIVES FOR THE REJUVENATION OF THE TURKISH FLEET IS EXTENDED TO LARGER TONNAGE :
In recent years, Turkey has undertaken significant initiatives to advance its maritime industry and ensure the ongoing dynamism of its fleet. With this objective in mind, amendments have been made on 23 March 2024 to the Regulation on Incentivizing Construction of New Vessels to Replace Scrapped Turkish Flagged Vessels (“Regulation”).
14 March 2024
COLREG PREVAILS – TURKEY TO INTRODUCE LEGISLATION TO ENSURE SWIFT ADOPTION OF COLREG AMENDMENTS:
11 March 2024
SIGNIFICANT CHANGES IN THE TURKISH DATA PROTECTION LAW:
On 4 March 2024, the Turkish Parliament passed a new regulation which amends several regulations including the Law on the Protection of Personal Data No. 6698 ("LPPD"). This amendment is welcomed by the market as harmonisation of LPPD with the EU General Data Protection Regulation ("GDPR") has long been expected.
24 January 2024
INSURANCE AND REINSURANCE BROKERS REGULATIONS RECEIVE SIGNIFICANT REVISIONS:
Significant revisions have been made in the regulations regarding insurance and reinsurance brokerage. The amendment introduce substantial novelties that impact everyone currently involved or intending to enter the sector.
corporate, finance, regulation, petroleum, arbitration, e-commerce, railway, istanbul, advance dividends, foreign awards, energy, national markers, natural resources, letter of guarantee, interim dividends
December 2024
Client Alert: New Regulation on Market Surveillance and Inspection for Products Offered through Remote Communication Tools
November 2024
Client Alert: IMPACT OF INFLATION ADJUSTMENT RATE ON THE MARITIME SECTOR
Client Alert: Turkish Port Clearance Rules Have Been Amended
Client Alert: NEW DRAFT REGULATION ON PILOTAGE AND TUGBOAT SERVICES
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