Background to revision The original Radioactivity Risk Clause for Time Charter Parties was drafted in response to the leaking of radioactivity from the Fukushima Nuclear Plant following the earthquake and tsunami that struck the north-east coast of Japan in March 2011. During the past year BIMCO has... Please follow the link to continue reading.
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.
BIMCO's Immediate Past President Sabrina Chao was interviewed by Greek magazine Naftika Chronika about seafarers and their skills being crucial to the future of the industry
The standard gas tanker voyage charter party codenamed ASBAGASVOY is ready for a first industry consultation as well as review by the Documentary Committee of BIMCO and the Board of the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA).
BIMCO is revising its popular suite of ship management and related third-party management agreements. SHIPMAN is the first to be revised.
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BIMCO and INTERTANKO have jointly published Q&As addressing the contractual implications owners and charterers should keep in mind when chartering ships fitted with scrubbers. The Q&As highlight the key charter party clauses and concepts which should be reviewed for both time and voyage charter part... Please follow the link to continue reading.
Emission trading systems (ETS) are “cap and trade” schemes that permit the emission of greenhouse gases in exchange for allowances. Over time the quantity of allowances available to industry are reduced as an incentive to reduce emissions through increased efficiency and the use of alternative fuels... Please follow the link to continue reading.
Introduction Shipmanagers acting for an owner raising finance with the managed vessel serving as collateral are regularly required to provide the lending bank, financial institution or other commercial entity with a Letter of Undertaking (LoU). The purpose of the LoU is to put the lender in the same... Please follow the link to continue reading.
The Legal Committee of the International Maritime Organization (IMO) has agreed on a new item for its future work programme relating to fair treatment of seafarers detained on suspicion of committing maritime crimes. At the Committee’s meeting on 27 November and 1-2 December, it also agreed on the d... Please follow the link to continue reading.
