Transparency and cooperation at heart of updated HYDROCHARTER
.ashx?rev=7be23505b534439386cf6155dfa0e1ff&h=250&w=350&la=en&hash=59F7B41203EDB8460C618BEEB042E84D)
Overview
BIMCO and Norwegian-based global aluminium company Hydro have launched a new edition of the HYDROCHARTER voyage charter party and HYDROBILL bill of lading.
A team of industry experts from Lauritzen Bulkers, Western Bulk, Skuld, Nordisk and Pareto have contributed their expertise to the updated contract. The HYDROCHARTER is designed to meet the business requirements of Hydro, particularly in the aluminium trade. The new edition reflects changes in commercial practice and legal developments since the form was last issued in 1997.
Gustav Heiberg, Director and Head of Logistics at Hydro, said:
The Hydro freight charter has been renewed several times since it first was established in 1923. Through the joint work with BIMCO, it has been given a timely overhaul. The updated contract will continue to work as a basis for our contracts of affreightment and will save time for all parties involved in the tender process
Ulrik Danstrøm, Senior Chartering Manager at Lauritzen Bulkers and chairman of the drafting committee, added:
With the expertise of the drafting team and the input from BIMCO’s Documentary Committee we now have a modern Hydro charter party that reflects recent developments and commercial practice. We commend the inclusion of a number of BIMCO standard clauses, and we believe that the new HYDROCHARTER will serve the industry well
Gustav and Ulrik added that transparency, dialogue and cooperation across the industry is vitally important – particularly in difficult market conditions. They feel that shipowners, operators and cargo owners should work together to ensure transparent, predictable and fair frameworks as a basis for sustainable collaboration. In their view this is what the joint BIMCO/HYDRO drafting group have achieved with the revised HYDROCHARTER.
The HYDROCHARTER 2017 and HYDROBILL 2017 are also now available for use through BIMCO’s charter party editor, IDEA. Questions about the contract can be sent to BIMCO at contracts@bimco.org.
Feedback or a question about this information?
Posted:
01 March 2017
VPS Bunker Alerts
Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples and have kindly permitted BIMCO’s Members to access this information.
The Bunker Alerts are not intended to be an evaluation of overall bunker quality in the port or area concerned, but usually highlight a specific parameter within the fuel which has raised a quality issue.
Latest ice reports for members
Latest piracy reports
Latest industry releasable threats
Related publication
Ship Management Contracts
The handy guide contains explanatory notes to all of BIMCO’s current standard ship management contracts.
Related training
Commodity Trading & Chartering Masterclass Online
- Online, Online
- 03 February, 2025
Commodity Trading & Chartering Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 2x75 minutes with a short break...
ELSEWHERE ON BIMCO
Contracts & Clauses
All of BIMCO's most widely used contracts and clauses as well as advice on managing charters and business partners.
Learn about your cargo
For general guidance and information on cargo-related queries.
BIMCO Publications
Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.
About a new business partner
We can help members check new business partners. We also help to recover millions of USD (undisputed) funds every year.
