BIMCO adopts portfolio of four ETS clauses
BIMCO’s Documentary Committee has approved four new ETS clauses
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Background
The requirement for a vessel to lie safely aground is still a feature in a number of trades. What is often absent from charter party provisions permitting the vessel to be aground is any measure to verify that the bottom is clear of obstructions or any protection for the owner in terms of damage ari... Please follow the link to continue reading.
Explanatory notes
Part I Part II Clause 1 - Period of Charter Party and Delivery Clause 2 - Owners’ Undertaking Clause 3 - Trading Limits Clause 4 - Cargo Restrictions and Exclusions Clause 5 - Redelivery Clause 6 - Owners’ Obligations Clause 7 - Charterers’ Obligations Clause 8 -... 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.
Background
The risk of infestation by Flighted Spongy Moth Complex (FSMC) (formerly known as Asian Gypsy Moth (AGM)) is a perennial problem for vessels trading in the Far East during the female moth’s flight season. The risk is particularly high in Korea, Japan, Northern China and the Russian Far East. A numbe... Please follow the link to continue reading.
Indian service tax change imposed affecting owners and operators of ships calling India to discharge
On 12 January the Indian Government issued notifications related to the payment of Service Tax.
GUEST OPINION: John Weale on GENCON 2022 Part 1
"In one sense, GENCON is a curious anomaly," says John Weale, who chairs the GENCON revision subcommittee.
Explanatory notes
Background Charterers’ failure to pay for bunkers supplied to a vessel on time charter is likely to have severe implications for owners who, although not party to the arrangements, may nevertheless find their vessel arrested, perhaps weeks or months later, for the outstanding debt. Owners are then f... Please follow the link to continue reading.
Explanatory notes
General Observations Part I Part II Clause 1 - Vessel Clause 2 - Voyage Clause 3 - Cargo Clause 4 - Laydays Date and Present Position Clause 5 - Cancelling Clause 6 - Advance Notices (Loading) Clause 7 - Advance Notices (Discharging) Clause 8 - Notice of Read... Please follow the link to continue reading.
NAVEXCON
The Standard Naval Exercise Contract, NAVEXCON, was developed for the short-term charter of merchant ships to participate in military navigational exercises. In order to properly train military personnel in navigation techniques and to familiarise them with the handling of modern merchant tonnage, r... Please follow the link to continue reading.
