BIMCO members are invited to provide their views on the new standard contract of affreightment - GENCOA.
As a result of a rising number of shipments of industrial raw materials such as bauxite, coal and iron ore being transported under COAs, BIMCO is working on a new standard form of contract of affreightment (COA).
BIMCO’s approval body for contracts and clauses gathered on 23 February to discuss a highly topical agenda. Two contracts of affreightment and a contract for conversion work on ships were adopted. Split views on whether adopting the ETSA Clause was premature postponed the adoption of this clause.
In 1982, BIMCO published its first standard contract of affreightment for dry bulk cargoes and codenamed it VOLCOA. It is the forerunner to GENCOA, which was issued in 2004. A contract of affreightment is an agreement between an owner and a charterer for the carriage of a certain amount and type of ... Please follow the link to continue reading.
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The BIMCO GENCOA Sanctions Clause for Contract of Affreightment 2022 is intended to address two scenarios. The first scenario is where the owners or charterers (or the third parties they are responsible for under the clause) are listed by a sanctioning authority or government and become subject to s... Please follow the link to continue reading.
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Nick Fell, Chairperson of the Documentary Committee, reflects on 2023
