BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.
BIMCO/IPTA Vegoil Tank Pre-wash Clause (a) If following discharge of the cargo the Vessel is required to pre-wash its cargo tanks prior to leaving the discharge port in order to comply with MARPOL 73/78 Annex II or any other national or local laws or regulations, the Charterers shall pay compensatio... Please follow the link to continue reading.
During the summer of 2021, BIMCO published the latest version of Check Before Fixing, which can be purchased both in print and as an e-book. It has been a very popular tool for decades and it is easy to understand why. It provides the reader with highly practical guidance and tips for avoiding pitfa... Please follow the link to continue reading.
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For the purposes of this Clause: “MLC” means the International Labour Organization (ILO) Maritime Labour Convention (MLC 2006) and any amendment thereto or substitution thereof. “Charterers’ Personnel” shall mean any employees, directors, officers, servants, agents or invitees of each... Please follow the link to continue reading.
BIMCO U.S. Security Clause for Voyage Chartering 2002 If the Vessel calls in the United States, including any U.S. territory, the following provisions shall apply with respect to any applicable security regulations or measures: Reporting The Vessel or its agents shall report and send all notices as... Please follow the link to continue reading.
Under a conventional cargo time charter party, the right to suspend performance for non-payment of hire provides owners with a powerful commercial tool to leverage late hire payments. However, based on industry feedback, applying the same sanction under BARGEHIRE is impractical.
The first of a series of free public seminars on the new edition of SUPPLYTIME was held in Rotterdam on 12 October.
It can be difficult to determine if shipowners or charterers are responsible for accounting and reporting the GHGs emitted by a ship. This article helps determine where the responsibility for accounting and reporting of GHG emissions from ships lies under different types of charter parties.
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