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.
BIMCO's Shipping Analyst looks at the shipping number of the week. This week: Product tanker recycling drops 82% year-on-year to lowest on record
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.
The development of the Vetting and Inspection Clause formed part of the general task of modernising the 1984 BIMCHEMTIME charter party. However, recognising the potential benefit to the chemical industry of coming up with a good standard vetting and inspection clause, BIMCO decided to prepare the BI... Please follow the link to continue reading.
The dry bulk fleet is expected to grow by 2.8% in 2023 and by 2.1% in 2024. However, supply might grow by only 1-2% in 2023 and 2024 due to lower sailing speeds. Between January and July, bulk carrier newbuilding contracting fell 10.7% y/y, which caused the orderbook to slip to 7.7% of the dry bu... Please follow the link to continue reading.
BIMCO’s work on a syndicated term sheet for use in ship financing transactions is now so advanced that it is ready for review by the industry.
BIMCO's Casper Broustbo talks about SmartCon
Paul Herring is the past Chairman of Ince & Co. He is now an independent consultant and specialises in the resolution of disputes and has particular expertise in ship sale and purchase disputes. His expertise covers most aspects of shipping, with particular emphasis on charter party disputes, carria... Please follow the link to continue reading.
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