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Explanatory notes

Part I Part II Clause 1 - Definitions Clause 2 - Appointment of  Managers Clause 3 - Basis of Agreement Sub-clause 3.1 - Crew Management Sub-clause 3.2 - Technical Management Sub-clause 3. 3 - Commercial Management Sub-clauses 3.4 - 3.8 Clause 4 - Ma... Please follow the link to continue reading.

Explanatory notes

Forms of ADR are being used worldwide but with different names and different procedures. Commonly used forms of ADR are mediation, early neutral evaluation and early intervention. These forms of ADR are intended to facilitate the prompt and amicable resolution of disputes between parties (allowing t... Please follow the link to continue reading.

Macro environment

Houthi attacks on ships in the Red Sea continue to severely impact trade lanes that normally transit the Red Sea and the Suez Canal. Transits of the Suez Canal remain 90-95% lower than at the same time last year. Though no resolution is in sight, we have in our base scenario chosen to assume that s... Please follow the link to continue reading.

BIMCO Secretary General to step down

BIMCO Secretary General & CEO, Angus Frew, has announced he will step down in the summer of 2020, as he wishes to spend more time in the UK and less time working. The search for his replacement has started.

Background

The BIMCO GENCOA Sanctions Clause for Contract of Affreightment 2022 is intended to address two scenarios. The first scenario is where the owners or charterers (or the third parties they are responsible for under the clause) are listed by a sanctioning authority or government and become subject to s... Please follow the link to continue reading.

Standard Statement of Facts Oil and Chemical Tank Vessels short form

The Standard Statement of Facts (Oil and Chemical Tank Vessels) was published in 1975 and is recommended by BIMCO and FONASBA (the Federation of National Associations of Ship Brokers and Agents). The latest edition of this document is the Standard Statement of Facts (Oil and Chemical Tank Vessels) (... Please follow the link to continue reading.