SHIPTERM is a standardised term sheet intended for use in a bilateral, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a single lender and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM, issued in 2017.... Please follow the link to continue reading.
The project to develop two standard escrow agreements was kicked off this week with a subcommittee meeting in BIMCO House.
BIMCO is merging its sanctions and designated entities charter party clauses, following revisions by a specialist subcommittee, to create a more robust contractual solution for sanctioning.
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The Chinese Ministry of Transport has announced new regulations requiring all ships imported for domestic use, and Chinese flagged ships for international use, to be compliant with IMO Tier II emissions standards from 1 September 2018, in a bid to cut NOx emissions from diesel engines.
Paul Herring is the past Chairman of Ince & Co. He is now an independent consultant and specialises in the resolution of disputes and has particular expertise in ship sale and purchase disputes. His expertise covers most aspects of shipping, with particular emphasis on charter party disputes, carria... 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.
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.
Ship Sales Further Trading Clause Drafting team The Clause is the result of a collaborative and consensual process between owners, shipbrokers, P&I clubs, and legal experts. BIMCO is grateful to the drafting team for their considerable time, effort and commitment in producing the Clause: Mr Francis ... Please follow the link to continue reading.
