BIMCO has received numerous enquiries from members uncertain about how the Novel Coronavirus outbreak will impact contracts. The following includes some general remarks, but it is important to evaluate carefully each situation on its own merits.
The Baltic Clean Tanker Index (BCTI) has year to date 2023 fallen 28% compared to the same period last year whereas the Baltic Dirty Tanker Index is down 9%. However, both indices remain higher than the ten year average. Time charter rates have fallen from the highs achieved in late 2022. Yet they r... Please follow the link to continue reading.
Preamble Clause 1 - Duration Clause 2 - Delivery Clause 3 - On-Off Hire Survey Clause 4 - Dangerous Cargo/Cargo Exclusions Clause 5 - Trading Limits Clause 6 - Owners to Provide Clause 7 - Charterers to Provide Clause 8 - Performance of Voyages Clause 9 - B... Please follow the link to continue reading.
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Guidance Notes The following guidance notes are intended to provide some background to the thinking behind the BIMCO LNG Fuel Quality Clause for Time Charter Parties. These notes explain the scope of each provision and clarify how the clause is intended to operate and the way it allocates risk betwe... Please follow the link to continue reading.
The BIMCO Average Bond Clause 2017 has been updated. The main change is in the final paragraph where the shorter limitation period previously applicable to adjustments arising under the York Antwerp Rules 2004 no longer applies. As a result, in all cases rights to claim under the clause have been br... Please follow the link to continue reading.
PART I PART II Definitions 1. Slot and Weight Allocation 2. Period 3. Trading limits 4. Permitted Cargoes 5. Slot Charter Hire 6. Itinerary 7. Opening Containers 8. Stowaways 9. Drugs 10. Repairs 11. Owners' Obligations 12. Charterers'... Please follow the link to continue reading.
Background The absence of standard arrest clauses in the market has resulted in owners and operators being presented with individually drafted provisions. However, the provisions are often one-sided with charterers having the right to terminate the charter party if the vessel is not released within ... Please follow the link to continue reading.
BIMCO has published a charter party clause promoting the use of the IMO’s data model framework. The publication is an extension of BIMCO’s strategic objective to encourage greater efficiency and harmonisation in the ship-shore interface.
Discover the latest updates on BIMCO's documentary work programme, exploring the work on the Emissions Trading Schemes (ETS)
