Introduction
Clause 1 (Novation)
Clause 2 (Amendments to the Time Charter Party)
Clause 3 (Charter Hire)
Clause 4 (Warranties)
Clause 5 (Effective Time Survey)
Clause 6 (Mutual Renewal of Guarantees)
Clause 7 (Assurances...
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The amendments to MARPOL Annex VI (adopted in a consolidated revised Annex VI) are due to enter into force on 1 November 2022, with the requirements for EEXI certification coming into effect from 1 January 2023. The new regulations will require applicable ships to have their attained EEXI calculated...
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Introduction
Clause 1 (Novation)
Clause 2 (Charter Hire)
Clause 3 (Warranties)
Clause 4 (Bunkers)
Clause 5 (Original Charterers’ Equipment on the Vessel)
Clause 6 (Effective Time Survey)
Clause 7 (Mutual Renewal of Guaran...
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Background
Until the publication of the QEL and QEL (SHORTFORM), no such standard form was available in the market.
Although QELs may often be perceived as only benefiting the charterer, in most cases, they will be beneficial to the lenders as preserving the charterers’ uninterrupted use and enjoyme...
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Following the successful launch of BIMCO’s bilateral term sheet in 2017, SHIPTERM, it was agreed to develop a complementary form for syndicated loan transactions. The Documentary Committee approved this syndicated edition, named SHIPTERM S, in May 2018.
BIMCO is grateful to the following subcommitte...
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Background
The IMO has so far adopted three different kinds of measures in MARPOL Annex VI. Resolution MEPC.328(76) focuses on either the design and technical energy efficiency of a ship or the ongoing operation of a ship.
The below gives a brief overview:
1. Design measure: The Energy Efficie...
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Background
Nature of the term sheet
Preamble
Part I
Clause 1 (Facility)
Clause 2 (Purpose)
Clause 3 (Drawdown)
Clause 4 (Repayment)
Clause 5 (Cancellation and Prepayment)
Clause 6 (Interest)
Clause 7 (Fees)
Clause 8 (Finance Documents)
Clause 9 (...
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Introduction
Clause 2 (Condition of Vessel)
Clause 3 (Charterers’ Inspection)
Clause 5 (Presentation and Conditioning of Cargo Tanks at the Loading Port)
Clause 6 (Ownership of Heel)
Clause 7 (Voyage, Loading and Discharging Ports and Logs)
Clause 8 (Ship to Ship Tra...
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Background
Until the publication of the QEL and QEL (SHORTFORM), no such standard form was available in the market.
Although QELs may often be perceived as only benefiting the charterer, in most cases, they will be beneficial to the lenders as preserving the charterers’ uninterrupted use and enjoyme...
Please follow the link to continue reading.
BIMCO has developed the ROPAXTIME time charter party for passenger-carrying RoRo ferries. It was approved for publication by BIMCO's Documentary Committee on 3 June 2015 in Edinburgh.
Before the publication of ROPAXTIME, those involved in the RoPax trade were using heavily amended standard time char...
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