BIMCO has published a new charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to use under regulations for the Safety of Life at Sea (SOLAS).
BIMCO Evidence of Performance Clause 2006 The actual route taken by the Vessel shall be used as the basis of any calculation of the Vessel's performance under this Charter Party. Owners and Charterers agree that evidence of the weather, sea state and other factors affecting the vessel’s performance... Please follow the link to continue reading.
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The practice of charterers using oil tankers for floating storage is certainly not a new concept. What’s different with the current demand for storage is the huge number of ships being time chartered for floating storage purposes due to the collapse in oil prices, partly as a result of COVID-19. The... Please follow the link to continue reading.
See the outcomes and decisions from the BIMCO Documentary Committee meeting May 2022
BIMCO has started work on standard arrest clauses for use in charter parties.
BIMCO's advice about compliance with CII
INTERTANKO Terminal Conditions of Use Clause (a) For the purposes of this clause, ‘Conditions of Use’ (COU) shall mean any agreement, terms or document that the Owner, or the Master on behalf of the Owner, is required to sign or otherwise accept in order for the Vessel to call, access or otherwise m... Please follow the link to continue reading.
The LINERTIME is a deep sea time charter party. Originally published in 1968 and revised in 1974 and 2015. The 2015 revision was a technical update where the latest editions of BIMCO’s core clauses replaced the earlier versions of the same. The latest edition of this contract is LINERTIME 2015. Copy... Please follow the link to continue reading.
BIMCO’s Ice Information for the northern hemisphere is now live for this season. Reports will be published weekly, or twice weekly if ice conditions become harsher.
