China Customs issued its Order (No.56) back in 21st November 2017 with a view to regulate all inbound/outbound manifest from 1st June 2018. Any violation in manifest filing may cause vessel’s delay as well as carrier’s penalty according to the “The Implementation Ordinance of Administrative Penalty ... Please follow the link to continue reading.
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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In January 2010 BIMCO initiated a project to develop slow steaming clauses for use in time and voyage charter parties. While work on the voyage charter party clause is still on-going, the clause for time charter parties was adopted by BIMCO’s Documentary Committee at its meeting in Copenhagen in Nov... Please follow the link to continue reading.
Clauses for voyage and time charter parties, originally developed in 2004 in response to US Customs’ requirements for the advance submission of cargo manifest information, were reissued in 2010 to reflect the introduction of parallel arrangements in Canada. However, further changes have now been ma... Please follow the link to continue reading.
In a little over a year from now, new legislation from the International Maritime Organization (IMO) will come into force. It aims to reduce CO2 emissions and will change the way ships are operated. From 1 January 2023, owners and charterers will therefore have to cooperate to comply with the new re... Please follow the link to continue reading.
The GENCOA is BIMCO’s standard contract of affreightment for dry bulk cargoes. A contract of affreightment is an agreement between an owner and a charterer for the carriage of a certain amount and type of goods between agreed ports over a given period of time. It is not limited to a particular ship,... Please follow the link to continue reading.
Background In October 2009 BIMCO initiated a project to develop a suite of standard bunker clauses for use in time charter parties. The rationale behind developing the suite is simply to address the ever increasing importance of bunker issues in time charter parties and the need to ensure that the r... Please follow the link to continue reading.
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing institutions and private practice lawyers from Asia, Europe and the US began work this week to develop a standard letter of quiet enjoyment (LQE) for use in long term charter and leasing str... Please follow the link to continue reading.
BIMCO has received comments concerning the arrival of a new breed of clauses seeking to shift risks traditionally falling within the charterers’ sphere onto the owners.
