Clauses for voyage and time charter parties, originally developed in 2004 in response to US Customs’ requirements for the advance submission of cargo manifest information, were reissued in 2010 to reflect the introduction of parallel arrangements in Canada. However, further changes have now been ma... Please follow the link to continue reading.
In a little over a year from now, new legislation from the International Maritime Organization (IMO) will come into force. It aims to reduce CO2 emissions and will change the way ships are operated. From 1 January 2023, owners and charterers will therefore have to cooperate to comply with the new re... Please follow the link to continue reading.
BIMCO has received comments concerning the arrival of a new breed of clauses seeking to shift risks traditionally falling within the charterers’ sphere onto the owners.
Background In October 2009 BIMCO initiated a project to develop a suite of standard bunker clauses for use in time charter parties. The rationale behind developing the suite is simply to address the ever increasing importance of bunker issues in time charter parties and the need to ensure that the r... Please follow the link to continue reading.
1. Compliance Clause Owners warrant that the vessel complies with all mandatory international regulations being in force at the date of this Charter Party applicable to the contracted voyage and cargo, and that the vessel has onboard the necessary valid certificates. 2. Cleaning Clause (a) If on pr... Please follow the link to continue reading.
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The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure.
The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure.
BIMCO’s approval body for contracts and clauses gathered on 23 February to discuss a highly topical agenda. Two contracts of affreightment and a contract for conversion work on ships were adopted. Split views on whether adopting the ETSA Clause was premature postponed the adoption of this clause.
Background Summary of main features Detailed provisions Sub-clause (a) Sub-clause (b) Sub-clause (c) Sub-clause (d) Sub-clause (e) Sub-clause (f) Sub-clause (g) Guidance on laytime and detention and example calculations for sub-clause (e)(ii) of the BIMCO Cargo Fu... Please follow the link to continue reading.
