Ship arrest focal point of new clause
Overview
BIMCO has started work on standard arrest clauses for use in charter parties.
There is increasing concern among owners about a noticeable trend of some dry cargo charterers applying strict procedures to arrest under a charter party. BIMCO has seen a number of examples of harshly worded clauses that entitle charterers to terminate the charter party if the ship has not been released within few days of its arrest or detention, regardless of whether the owners themselves have been negligent. While some owners have accepted these one-sided clauses, BIMCO feels that a new standard arrest clause for charter parties that clearly and fairly sets out the risks and responsibilities will help both parties to take a more balanced approach to arrest.
BIMCO’s aim is to provide standard arrest clauses for voyage and time charter parties that can be used throughout the chartering chain.
A specialist drafting team has been formed comprising representatives from Polsteam, Western Bulk, Cargill, Schutzverein Deutscher Rheder and North of England P&I Club.
The project is still at a preliminary stage, but it is hoped that a draft voyage charter clause will be ready for review by BIMCO’s Documentary Committee in November this year.
Feedback or a question about this information?
Posted:
03 October 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.
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.
