Ship arrest focal point of new clause
BIMCO has started work on standard arrest clauses for use in charter parties.
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Ship arrest clauses focus on “sphere of responsibility”
BIMCO has published two clauses that take a balanced approach to termination risk following ship arrest, in response to cases seen in recent years when some dry cargo charterers have tightened procedures to arrest under a charter party.
Arrest clauses
BIMCO has received comments concerning the arrival of a new breed of clauses seeking to shift risks traditionally falling within the charterers’ sphere onto the owners.
Arrest Clause for Time Charter Parties 2019
Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two ... Please follow the link to continue reading.
Arrest Clause for Voyage Charter Parties 2019
Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two ... Please follow the link to continue reading.
Arrest of vessels for time charterers' debts
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Mexico alert – smuggling of illegal narcotics – risk of ship detention and crew arrest
The International Group of P&I Clubs, International Chamber of Shipping (ICS), BIMCO and InterManager (the “international industry organisations”) draw Members’ attention to the series of recent ship detentions and crew arrests in Mexico and, in the case of the UBC Savannah, the lengthy and continui... Please follow the link to continue reading.
Industry Releasable Threat Bulletin 013
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BIMCO publishes Sanctions Clause for the container trade
A new time charter sanctions clause specifically designed for the container shipping sector has been published by BIMCO. The BIMCO Sanctions Clause for Container Vessel Time Charter Parties 2021 is part of an initiative to create a library of sanctions clauses that reflect the individual needs and c... Please follow the link to continue reading.
New BIMCO clause aims to curb AIS abuse
BIMCO is working on a charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to carry under SOLAS.
