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BIMCO has over recent weeks published a lot of information about COVID-19 and which measures different countries have implemented in an effort to curtail the spread of the virus.
BIMCO has over recent weeks published a lot of information about COVID-19 and which measures different countries have implemented in an effort to curtail the spread of the virus. An overview can be found on BIMCO’s website.
The practice of charterers using oil tankers for floating storage is certainly not a new concept. What’s different with the current demand for storage is the huge number of ships being time chartered for floating storage purposes due to the collapse in oil prices, partly as a result of COVID-19. Therefore, BIMCO is receiving enquiries about “floating storage” clauses and questions about what additional wording owners should consider adding to their time charters.
The BIMCO Holiday Calendar 2022 Supplement contains information on local holidays in Spain and the Indian Charter Party Holidays as collected in collaboration with local partners.
In view of the significant time and costs associated with court and arbitration proceedings, BIMCO has developed a standard clause for inclusion in charter parties and other contracts which makes it possible for the parties to solve disputes via alternative dispute resolution (ADR) and in particular mediation, early neutral evaluation and early intervention.