Fumigation
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Explanatory notes
The following explanatory notes are designed to provide some background information on the clauses of the various parts of the contract and a general overview of the amendments made in this revision. PART I PART II Clause 1 (Outright Sale) Clause 2 (Purchase Price) Clause 3 (Deposit... Please follow the link to continue reading.
BIMCO President speaks about opportunities and threats for shipping from digitalisation including stressing the human element
The BIMCO President Mr Papagiannopoulos highlighted the main opportunities and threats for shipping coming from digitalisation at the 3rd ShipIT conference in Athens on 27 September 2017. The opportunities and threats include the admin burden on board ships, autonomous ships, blockchain, cyber risk ... Please follow the link to continue reading.
Background
TOWCON is the industry standard contract for ocean towage on a lumpsum basis. In the latest revision, it has undergone a thorough revision to clarify ambiguities and has been restructured to make it easier to use. For example, definitions of Hirer’s and Tugowner’s Groups (SUPPLYTIME-style) have been... Please follow the link to continue reading.
Acronyms relevant for oil- and chemical tankers
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ITF policy on minimum conditions on merchant ships ("The Delhi Policy")
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Explanatory notes
Introduction In response to the need for up to date provisions covering long-term representation by agents, BIMCO and FONASBA have developed a new General Agency Agreement. BIMCO would like to thank the following Subcommittee members for their efforts in developing this contract: Mr Han van Bl... Please follow the link to continue reading.
Explanatory notes
Special observations Part I Part II Clause 1 – Vessel’s Class and Condition Clause 2 – Vessel’s Accommodation Clause 3 – Owners’ and Master’s Authority Clause 4 - Embarkation of Passengers Clause 5 - Hire Clause 6 - Other Charges Clause 7 - Payment of Hire and Othe... Please follow the link to continue reading.
8 Sep 2021 - Container shipping - onshore disruption leading to record delays and profits
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’ side and leaving carriers struggling to keep up all the while making record profits.
Explanatory notes
Background Nature of the term sheet Preamble Part I Clause 1 (Facility) Clause 2 (Purpose) Clause 3 (Drawdown) Clause 4 (Repayment) Clause 5 (Cancellation and Prepayment) Clause 6 (Interest) Clause 7 (Fees) Clause 8 (Finance Documents) Clause 9 (... Please follow the link to continue reading.
