BIMCO has revised its EU Advance Cargo Declaration Clauses for Voyage and Time Charter Parties first issued 2011. Background The EU Advance Cargo Declaration Clauses were drafted to meet the requirements of the new European Union customs legislation that came into force on 1 January 2011 – the EU Ad... Please follow the link to continue reading.
Global economic growth is estimated to have been 3.1% in 2023. The International Monetary Fund (IMF) projects that growth in 2024 and 2025 will end up at 3.1% and 3.2% respectively. The IMF forecasts slower growth for both 2024 and 2025 in the US, China, Japan and India compared to 2023. On the oth... 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.
MEMBER CONTENT – login using the orange button at the top of the page to view.
Background Emission Schemes are “cap and trade” schemes that cap the total amount of greenhouse gases to be emitted by certain vessels covered by the system. Over time, this cap is reduced as an incentive to reduce greenhouse gas emissions through increased efficiency and the use of alternative fue... Please follow the link to continue reading.
The sanctions landscape has grown increasingly complex. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties b... Please follow the link to continue reading.
A call for the consistent application of the Civil Liability Convention (CLC) and Fund Conventions was made when the governing bodies of the International Oil Pollution Compensation (IOPC) Funds met in London on 24 and 25 April. BIMCO was represented as an observer delegation.
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In response to the threats arising from the conflict in Yemen, BIMCO, ICS and INTERTANKO have published interim guidance on maritime security in the southern Red Sea and Bab al-Mandeb. Shipowners and operators should be aware of new threat patterns in the area.
