The spread of the COVID-19 virus is causing significant issues in the shipbuilding industry, but English law has no general concept of force majeure, and this is a key factor in the relationship between shipyards and shipowners.
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BIMCO has published SHIPLEASE, a new standard term sheet for sale and leaseback transactions which will be presented at a series of free seminars in the coming months. We will start with two online seminars and, as soon as the situation allows, live networking seminars will be planned in Asia, Europ... Please follow the link to continue reading.
This eBook includes a sample copy of the NEWBUILDCON contract and the related explanatory notes in the latest version.
A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committe... Please follow the link to continue reading.
SHIPTERM S is a standardised term sheet intended for use in a syndicated, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a syndicate of lenders and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM S, iss... Please follow the link to continue reading.
The shipping industry is on the verge of major changes requiring strong collaboration between ship builders, ship owners and classification societies, agreed the 70 plus participants of the 2018 Tripartite Forum held in Seoul, South Korea on 11 and 12 October.
A year before IMO launches it's data collection system (DCS) in 2019, the Maritime and Port Authorities of Singapore (MPA Singapore) has started a voluntary data collection of fuel oil consumption.
