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SHIPLEASE points to SHIPSALE 22
BIMCO’s standard term sheet for use in ship sale and leaseback transactions, SHIPLEASE, has been updated to refer to the new Memorandum of Agreement (MOA) for ship sale and purchase, SHIPSALE 22.
Explanatory notes
Introduction The absence of standard market contracts for depositing money in connection with ship sale and purchase transactions means that parties are left to draft agreements on an individual basis. In order to fill this gap and provide a useful complement to the SALEFORM, BIMCO has developed a s... Please follow the link to continue reading.
Industry experts draft new BIMCO S&P agreement
BIMCO is developing its own standard Memorandum of Agreement (MOA) for ship sale and purchase (S&P). The new BIMCO MOA is rapidly taking shape after just three meetings of the expert group, the most recent at the offices of Louis Dreyfus in Paris on 27 January.
Topical contracts and clauses to be reviewed by Documentary Committee next week
Two new standard clauses on agenda for BIMCO's April 2023 Documentary Committee - Russian Oil Cap and On-Trading clauses
New contracts launched for depositing money
BIMCO has published two new contracts to assist parties when depositing money in a sale and purchase transaction and as security for a claim in a dispute.
Standard term sheet and new agency agreement top Documentary Committee agenda
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.
8 Sep 2021 - Container shipping - onshore disruption leading to record delays and profits
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’ side and leaving carriers struggling to keep up all the while making record profits.
DEMOLISHCON
DEMOLISHCON is a standard contract for the sale of ships for demolition and recycling. The latest edition of this contract is DEMOLISHCON, issued in 2001.
