BIMCO Shifting and Warping When the berth where the vessel is to load or discharge is not available upon her arrival at or off loading or discharging port, shifting expenses from anchorage or waiting berth shall be for Owners' account and shifting time used shall not count. If Charterers have the... Please follow the link to continue reading.
BIMCO's Documentary Committee in Copenhagen approves new contracts and clauses, setting industry standards for SmartCon and the BIMCO website, with explanatory notes coming soon.
BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.
BIMCO’s approval body for contracts and clauses will meet online on 23 February. The development of a series of carbon clauses is high on the Committee’s agenda. An Emissions Trading System Allowances (ETSA) Clause for time charters is up for adoption and the Committee will also be asked to review a... Please follow the link to continue reading.
The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure.
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BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
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Technical, regulatory and financial aspects of the 2020 global fuel sulphur cap regime understandably loom large in people’s minds. But the importance of the contractual dimension should not be overlooked. BIMCO is forging ahead with an all-encompassing 2020 Clause for charter parties, which should ... Please follow the link to continue reading.
The Documentary Committee, under the chairmanship of Mr Francis Sarre, met in Copenhagen on 17 November in Copenhagen for its regular autumn meeting. Following two years’ intensive work involving owners, lawyers and financial institutions, a new Standard Term Sheet for Bilateral Financing was adopte... Please follow the link to continue reading.
