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BIMCO and the UN World Food Programme issues modernised charter party
BIMCO has together with the UN World Food Programme (WFP), updated and modernised the WORLDFOOD voyage charter party used by the UN organisation to transport food to emergency areas around the world. The aim was to create a contract that made WFP’s work easier and faster.
FuelEU tops agenda of Documentary Committee meeting
Nick Fell, Chairperson of BIMCO's Documentary Committee, tells about the meeting held on 9 October 2024 including adoption of AUTOSHIPMAN
Explanatory notes to Infectious or Contagious Diseases Clause for Time Charter Parties
Background The revision of the BIMCO IOCD Clause for Time Charter Parties was prompted by the COVID-19 pandemic. The clause is not intended to be a “COVID-19 clause” - it is designed with future epidemics and pandemics in mind. The BIMCO IOCD Clause 2022 is appropriate for outbreaks of diseases on ... Please follow the link to continue reading.
Contracts of affreightment (COA) – bulk cargoes
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What are the differences between demurrage and detention?
Demurrage forms an integrated part of the laytime provisions in voyage charter parties operating with fixed laytime. Just as voyage freight, the amount of demurrage negotiated reflects the current market conditions and not necessarily the daily cost of the vessel. This means that it is just as impor... Please follow the link to continue reading.
Ice clauses
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Lien and cesser clauses
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Cancelling date passed - whether vessel must proceed to point of delivery
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Expected ready to load versus laydays/-cancelling
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