AGM (formerly known as "Asian Gypsy Moth" - notice extending risk periods
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Houthis continue to attack ships in the Red Sea and the Gulf of Aden, and there is no end to the conflict in sight. We therefore base our forecasts on the assumption that rerouting of ships away from the Red Sea and the Suez Canal towards the Cape of Good Hope may impact the market throughout 2024,... Please follow the link to continue reading.
BIMCO provides up-to-date information on the Asian gypsy moth season (AGM) 2021. ** ASIAN GYPSY MOTH IS NOW KNOWN AS FLIGHTED SPONGY MOTH COMPLEX ** Not all countries have introduced the new name yet, but BIMCO has decided to standardise on Flighted Spongy Moth Complex, abbreviated to FSMC.
BIMCO has today published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.
BIMCO’s Double Banking Clause for Time Charter Parties has been revised to bring it up to date with modern commercial practice. It has been renamed Ship-to-Ship Transfer Clause for Time Charter Parties to give a clearer indication of the nature of the intended operation of the Clause, and an amendme... Please follow the link to continue reading.
Structure Annex A – Vessel Specification Annex B – Insurance Definitions Clause 1 (Charter Period) Clause 2 (Delivery and Redelivery) Clause 3 (Condition of Ship) Clause 4 (Structural Alterations and Additional Equipment) Clause 5 (Surveys, Audits and Inspe... Please follow the link to continue reading.
After the killing of General Qassem Soleimani by a US drone in early January 2020, and the following retaliation by Iran, BIMCO is publishing its view of the escalated tension in the Persian Gulf, as well as advice regarding the new sanctions clauses, and encourages owners, operators and charterers ... Please follow the link to continue reading.
BIMCO’s Documentary Committee adopted two new contracts and two clauses at its meeting on 29 November. The two clauses will be published immediately. The contracts will be published in early January.
Table of contents Nature of the term sheet Part I Part II Clause 1 (Transaction) Clause 2 (Transaction Documents) Clause 3 (Memorandum of Agreement) Clause 4 (Purchase Price) Clause 5 (Bareboat Charter) Clause 6 (Hire) Clause 7 (Charter Period) Claus... Please follow the link to continue reading.
