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BIMCO is developing a standard refund guarantee for shipbuilding contracts, including the SAJ and Chinese forms. The current issue is that English law and jurisprudence on guarantees is contradictory, complex and often very difficult to understand from a commercial perspective, and as a result small changes made by negotiators can have wide reaching commercial consequences.
New regulations on the carbon intensity of international shipping will come into force on 1 January 2023. The complex CII regulations are expected to significantly impact the future operation of ships. Shipowners and charterers must embrace new ways of cooperation, and new clauses for charter parties will be needed to help owners and charterers succeed.
We get questions on the angle of repose for the loading of dry solid bulk cargoes, which has implications under the International Maritime Solid Bulk Cargoes (IMSBC) Code which can be complex to understand. This article explains the use of the angle of repose, when it is needed and why it is important for the safety of the ship, crew and cargo.
For the new season beginning September 2019, New Zealand, Australia and Chile have introduced tougher rules to combat increasing spread of Brown Marmorated Stink Bug (BMST) coming from targeted "BMST" countries.
Tanker investments these days are not a straightforward decision. A prospective buyer is faced with a combination of price pressure, regulatory uncertainties, long term demand concerns and limited near term yard availability, all of which are making ordering newbuild tankers a complex undertaking. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
On 16 November 2022, BIMCO published the CII Operations Clause for Time Charter Parties after the clause was adopted by the Documentary Committee. BIMCO has since initiated a process of gathering feedback on its application from members and industry stakeholders.
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+45 44 36 68 00Lines are open Mon-Thurs 08:30-17:00 (CET) Fri 08:30-16:00 (CET)