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BOXCHANGE is a standard agreement for container interchange, which is the process of moving containers on a trip basis from a location with a container surplus to a place with container shortage. All terms and conditions are mirrored for both parties as they are simultaneously suppliers and users of containers. The latest edition of this contract is BOXCHANGE 2016. Copyright in BOXCHANGE 2016 is held by BIMCO.
The COAL-OREVOYBILL is a charter party bill of lading for shipments of coal and ore cargoes under the COAL-OREVOY charter party. The latest edition of this bill of lading is COAL-OREVOYBILL 2016. This amended edition incorporates the International Group of P&I Clubs/BIMCO Himalaya Clause for Bills of Lading and other contracts 2014, an updated layout and signature box, and a reference to the York-Antwerp Rules 2016 in respect of the Rules according to which General Average should be adjusted. Copyright in COAL-OREVOYBILL 2016 is held by BIMCO.
The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach.
BIMCO will now refer to general average being adjusted in accordance with the new York-Antwerp Rules (YAR) 2016
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