BIMCO President comments on standard term sheet
17 June 2016BIMCO President and Chairman of Louis Dreyfus Armateurs, Philippe Louis-Dreyfus opened the Armateurs de France and BIMCO event in Paris on 14 June 2016.
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BIMCO President and Chairman of Louis Dreyfus Armateurs, Philippe Louis-Dreyfus opened the Armateurs de France and BIMCO event in Paris on 14 June 2016.
Based on a request from the US Environmental Protection Agency (EPA), BIMCO is doing a so-called “Bad Bunker Survey”. We ask members for their experiences and data with bad bunkers in order to collect data for EPA to potentially be used as evidence in cases against bad bunker suppliers.
Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples. The bunker samples are analysed by VPS whenever a short-term quality issue is identified in a specific port or region.
In a landmark decision, BIMCO cemented its move into the domain of ship financing with the Documentary Committee’s approval of a standard term sheet for use in ship financing transactions on 17 November 2016.
The objective of the Bunker Non-Lien Clause is to provide a pre-emptive mechanism to protect owners by requiring time charterers to inform their counterparty, the seller, at the outset that bunkers ordered are being supplied for their account and that no lien can be placed over the vessel.
There are now more than 55 members in the BIMCO Environmental Social and Governance Network. More are joining as members seek to understand the role ESG will play in their future business. In its initial meetings, the group has identified the need to investigate commonalities in ESG strategies and how you manage the things you can’t (or that might be hard to) measure. In order to get a broader picture of how our members are approaching ESG, we have developed a short survey to gather information.
SmartCon will be the long-term successor for IDEA. Based on the latest Microsoft technology, it will ensure that we can continue to offer our industry-known contracts for years to come.