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Iran sanctions: US Department of the Treasury bulletin
As mentioned in our update related to US Sanctions against Iran posted 22 August (Iran sanctions) the wind down period has now come to an end. In this respect, members should refer to the following bulletin sent by the U.S. Department of the Treasury yesterday: U.S Department of the Treasury Bu... Please follow the link to continue reading.
COVID-19 restrictions are updated
BIMCO makes a continuous effort to provide information on the most recent restrictions.
Sanctions Clause for Voyage Charter Parties 2020
The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. International sanctions regimes are constantly changing with new restrictions being added and new persons... Please follow the link to continue reading.
BIMCO to launch new sanctions clauses to increase contractual certainty
BIMCO is merging its sanctions and designated entities charter party clauses, following revisions by a specialist subcommittee, to create a more robust contractual solution for sanctioning.
Coronavirus and crew restrictions; what to keep in mind
Crew unable to disembark, service engineers unable to maintain essential equipment and classification societies unable to do scheduled ship surveys. This is the new reality for many, as several port authorities and port state authorities are imposing restrictions on mobility due to the Coronavirus (... Please follow the link to continue reading.
Philippine immigration restrictions
The Philippine government has decided to tighten security regarding entry of certain nationalities into the Philippines.
BIMCO publishes Sanctions Clause for the container trade
A new time charter sanctions clause specifically designed for the container shipping sector has been published by BIMCO. The BIMCO Sanctions Clause for Container Vessel Time Charter Parties 2021 is part of an initiative to create a library of sanctions clauses that reflect the individual needs and c... Please follow the link to continue reading.
Sanctions Clause for box lines takes pragmatic approach
Many container operators use charter party trade limits as a sanctions management tool when operating liner services between non-sanctioned countries. To provide an alternative contractual solution and to proactively address the current trend to impose sanctions on the shipping industry, BIMCO is cu... Please follow the link to continue reading.
You need to be more vigilant about sanctions due diligence
Violating sanctions imposed by the EU, UK, US and other countries against Russia and Belarus may cause severe enforcement actions and is potentially very damaging to your business. And with banks now being sanctioned, the situation is even more complex. Everybody wants to comply with the sanction re... Please follow the link to continue reading.
