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At the Connecticut Maritime Association's conference in Stamford in mid-March, Thomas gave a keynote speech which was reported on by Lloyd's List.
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).
The NATO Shipping Centre maintains a 24/7/365 oversight of security developments in the Euro-Atlantic area, the Mediterranean Sea, and the Black Sea. Shipowners are reminded of the Voluntary Reporting Scheme for the Mediterranean Sea.
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.
Şadan Kaptanoğlu, Immediate Past President of BIMCO: "Our industry urgently needs an acceleration of research and development".
BIMCO’s Immediate Past President and Kaptanoglu group CEO, Sadan Kaptanoglu, believes that the industry must find international consensus on the path to decarbonisation and take action on diversity.
BIMCO hosted a lively panel discussion at Posidonia. The panellists had different roles and came from different corners of the world but agreed on one thing: the need for the right marked-based measures at the right point in time. They also agreed that decarbonising shipping is a collective effort that cuts across many industries.