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The sanctions landscape has grown increasingly complex. 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 contracts of affreightment 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.
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.
FERTICON 2007 is a standard fertiliser voyage charter party. It is accompanied by its own bill of lading, FERTICONBILL 2016. The latest edition of this contract is FERTICON 2007. Copyright in FERTICON 2007 is held by BIMCO.
The FERTIVOY 88 is the North American Fertilizer Charter Party that was published by Canpotex Shipping Services Ltd and recommended by BIMCO.
Driven by continued growth in minor ore demand in China, global seaborne minor ore exports rose 7% y/y in the first seven months of 2023, vastly outpacing the 2% y/y growth in overall dry bulk exports.
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