The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. International sanctions regimes are constantly changing with new restrictions being added and new persons... Please follow the link to continue reading.
The dedicated subcommittee to examine the implications of the FuelEU Maritime Regulation, part of the EU's “Fit for 55”, has made significant progress drafting a clause for time charter parties as well as for SHIPMAN.
The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Ves... Please follow the link to continue reading.
BIMCO has published a new edition of BARECON, the industry’s go-to standard contract for bareboat chartering.
Users of BARECON can expect BIMCO’s standard bareboat charter party to become leaner and more focussed when a new edition is released later this year.
BIMCO has published a new edition of BARECON, the industry’s go-to standard contract for bareboat chartering.
Under a conventional cargo time charter party, the right to suspend performance for non-payment of hire provides owners with a powerful commercial tool to leverage late hire payments. However, based on industry feedback, applying the same sanction under BARGEHIRE is impractical.
BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I an... Please follow the link to continue reading.
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