The International Maritime Organization (IMO) has released guidance for cases when COVID-19 results in unforeseen delays in the delivery of newbuild bulk carriers and oil tankers originally scheduled to be delivered before 1 July 2020. The guidance is particularly relevant to shipbuilders, equipment... Please follow the link to continue reading.
We estimate that the crude tanker and product tanker fleet will end 2023 up 1.8% and 2.0% respectively on last year. Crude tanker growth will also remain muted in the coming few years as the order book to fleet ratio remains very low at 4.3%. Contracting of product tankers has in the meantime inc... Please follow the link to continue reading.
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Fergus Gifford is Director of Newbuilding and Sale & Purchase at Arrow in Tokyo. After seven years at Arrow in London and Hong Kong, he moved to Tokyo in August 2019. Born in London, he studied at Edinburgh University and has spent half his life in Asia, dividing his time between Tokyo, Kobe and Hon... Please follow the link to continue reading.
A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committe... Please follow the link to continue reading.
The development of the Vetting and Inspection Clause formed part of the general task of modernising the 1984 BIMCHEMTIME charter party. However, recognising the potential benefit to the chemical industry of coming up with a good standard vetting and inspection clause, BIMCO decided to prepare the BI... Please follow the link to continue reading.
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MEMBER CONTENT – login using the orange button at the top of the page to view.
A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committe... Please follow the link to continue reading.
MEMBER CONTENT – login using the orange button at the top of the page to view.
