15 October 2014
Two key trading lanes attract attention these days: one being the major battlefield today – the other being the potential battlefield of tomorrow.
06 March 2014
“The importance of China to the shipping market is second to none. This goes for all major shipping segments. In spite of leaving the double-digit growth rates behind us in the previous decade, the sheer size of the world’s second-largest economy now gives so much impetus to our industry that we have become addicted to China.”
12 February 2014
On a global scale, containerised export data from CTS, shows that activity improved in May following a weak start to 2013. Since then, the pace has picked up, and November and December saw 5-7% growth rates from same months of last year.
12 February 2014
The arrival of January also meant that Capesize freight rates once again touched the ground following three extraordinary months of flying high. Q4-2013 represents the strongest quarter in demand ever, and the seasonal weakness of Q1 simply had to affect the level of freight rates negatively.
19 September 2016
BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance.
The latest edition of this contract is BARECON 2017.
Copyright in BARECON 2001 is held by BIMCO.
20 September 2016
The Laytime Definitions for Charter Parties have been developed to provide practitioners with a set of meanings of commonly used words and phrases. The objective is to help reduce disputes about party intentions in a market where fixtures are often concluded on the basis of a recap message and listed amendments, without the exchange or return of draft contracts. These provisions have been developed for incorporation into charter parties.
The latest edition of these definitions is the Laytime Definitions for Charter Parties 2013.
20 September 2016
The Standard Naval Exercise Contract, NAVEXCON, was developed for the short-term charter of merchant ships to participate in military navigational exercises. In order to properly train military personnel in navigation techniques and to familiarise them with the handling of modern merchant tonnage, regular training exercises are conducted by many navies. This type of training is also useful for familiarising merchant navy personnel with the sort of pilotage techniques likely to be encountered in time of conflict.
The latest edition of this contract is NAVEXCON, issued in 1996.
17 October 2016
The Novation Agreement for the Substitution of Time Charterers is an agreement between the parties to novate the time charter party from the original charterers to the new charterers on terms set out in the agreement.
The latest edition of this contract is the Novation Agreement for the Substitution of Time Charterers, issued in 2016.
Copyright in the Novation Agreement for the Substitution of Time Charterers is held by BIMCO.
20 September 2016
RECYCLECON is a standard contract for the sale of ships for recycling in a safe and environmentally sound manner. The contract incorporates many of the requirements of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (the Hong Kong Convention) such as the Inventory of Hazardous Materials and the Ship Recycling Plan.
The latest edition of this contract is RECYCLECON, issued in 2012.
Copyright in RECYCLECON is held by BIMCO.
20 September 2016
PROJECTCON is a special projects charter party for the tug and barge sector. It was designed to remove the need to use up to three different contracts for the same project when operating a tug and semi-submersible barge in combination to transport of special or projects cargoes. Instead of having one contract for the hire of the barge, another for the hire of the tug, and a third for the transportation, PROJECTCON may be used as a single contractual platform.
The latest edition of this contract is PROJECTCON, issued in 2006.
Copyright in PROJECTCON is held by BIMCO.
