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The Maritime Safety Committee (MSC 103) meeting of the International Maritime Organization (IMO) was held remotely from 5 to 14 May. One of the issues discussed at the meeting - among a very comprehensive list on the agenda, was new measures to mitigate for containers lost at sea.
The Maritime Safety Committee (MSC 103) meeting of the International Maritime Organization (IMO) was held remotely from 5 to 14 May. One of the issues discussed at the meeting - among a very comprehensive list on the agenda, was new measures to mitigate for containers lost at sea.
Over the course of three months late last year and early this year, almost 3,500 containers were lost in a number of incidents in the Western Pacific. This is far above the numbers usually registered for the same period and has raised concern regarding the causes of these incidents.
BIMCO and the World Shipping Council (WCS) have launched a proposal for a mandatory and standardized reporting system to be developed, to address the safety and environmental risks associated with containers lost at sea.
The Maritime Safety Committee (MSC 103) meeting of the International Maritime Organization (IMO) was held remotely from 5 to 14 May. One of the issues discussed at the meeting - among a very comprehensive list on the agenda, was new measures to mitigate for containers lost at sea.
2015 was a busy year for container traffic on the eastern coast of the US. 7.9 million TEU of loaded containers entered the US East Coast in 2015, a 12.6% increase - compared to 7 million in 2014.
Warning of explosive incidents that could occur with shipment of aluminium dross in bulk containers.
The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.
The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It replaces the Sanctions Clause for Time Charter Parties 2010 and the Designated Entities Clause for Charter Parties 2013 (which have been combined to make a new single clause for ease of incorporation).
