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Explanatory notes

BIMCO’s Double Banking Clause for Time Charter Parties has been revised to bring it up to date with modern commercial practice. It has been renamed Ship-to-Ship Transfer Clause for Time Charter Parties to give a clearer indication of the nature of the intended operation of the Clause, and an amendme... Please follow the link to continue reading.

Background

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... Please follow the link to continue reading.

BIMCO issues update on Persian Gulf tensions and sanctions clauses

After the killing of General Qassem Soleimani by a US drone in early January 2020, and the following retaliation by Iran, BIMCO is publishing its view of the escalated tension in the Persian Gulf, as well as advice regarding the new sanctions clauses, and encourages owners, operators and charterers ... Please follow the link to continue reading.

Explanatory notes

Table of contents Nature of the term sheet Part I Part II Clause 1 (Transaction) Clause 2 (Transaction Documents) Clause 3 (Memorandum of Agreement) Clause 4 (Purchase Price) Clause 5 (Bareboat Charter) Clause 6 (Hire) Clause 7 (Charter Period) Claus... Please follow the link to continue reading.

Force Majeure Clause 2022

This clause addresses force majeure events occurring under contracts used by the shipping industry that affects the performance of the parties. It is a model clause that should be carefully reviewed by the parties and adapted as required to fit the context of the type of contract it is used in.

Safe berth warranty to be considered by US Supreme Court

BIMCO, Intertanko and Intercargo have filed an Amicus Curiae brief in a case currently before the US Supreme Court. The case raises key issues for the shipping industry, since the verdict will establish who is responsible for the safety of a visiting ship to a berth.