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BIMCO has started a discussion with members with the aim to provide a set of definitions that are practical and clear to stakeholders in the shipping industry when discussing climate change.
In response to the numerous challenges arising in the face of the Covid-19 pandemic, BIMCO launched a webinar series in the autumn of 2020. The series offer insight from industry experts who join the webinars to share their knowledge and debate what lies ahead for commercial shipping markets.
The BIMCO Masterclass is designed to provide you with a comprehensive understanding of the principles of time chartering. The course will use case studies as the primary learning tool to allow you to develop a knowledge of the practical aspects of time chartering and its application in the daily operation of vessels. On the first day, we will begin with a general introduction to the practical aspects of time chartering seen from both the perspective of the owners and charterers. We will discuss how to identify and negotiate the best terms for a particular charter, and how to create and manage the charter party before and during the fixture. This part of the course will also cover disputes related to various daily issues, including seaworthiness and the obligation to issue and comply with voyage and employment orders. One of the key areas of dispute is the description of the vessel. The charter party will include a description of the vessel, and if the vessel does not meet these specifications, the charterer may claim damages from the owner. Another area of dispute is performance claims. The charter party will typically include provisions relating to the vessel's performance, such as speed and fuel consumption. If the vessel fails to meet these performance targets, the charterer may claim damages from the owner. Finally, we will discuss the disputes concerning the duration of the charter, especially in relation to redelivery, where disputes and discussions often occur concerning the vessel's last voyage. On the second day, we will look at common disputes related to the payment of hire. These include failure to meet the pre-agreed terms and conditions, unexpected delays or cancellations, failure to pay hire on time, disagreements over the amount of hire due, and failure to comply with any of the charter party terms and conditions on payments. All time charter parties contain an off-hire clause providing exceptions from the strict obligation for charterers to pay hire from delivery until redelivery. The specific terms of the off-hire clause will determine whether any particular event entitles the charterers to place the ship off-hire, and for how long. The course will conclude with a review of all the topics covered as a case study, enabling you to consolidate your understanding of the principles, practical aspects, and legal framework of a time chartering agreement.
Paul is Global Head of Shipping at HFW managing 200 specialist shipping lawyers across a worldwide network of 20 offices. Paul specialises in offshore and marine, focusing mainly on charter parties, bills of lading, shipbuilding, rig disputes, collisions, fire and explosion, salvage, general average, groundings, total loss, towage, seismic and limitation. He regularly speaks at and chairs offshore vessel conferences and has been on the BIMCO panel for their “Using SUPPLYTIME” course for over 10 years, the review committee for the SUPPLYTIME 2005 revision and on the drafting committee for BIMCO’s new standard form Offshore Dismantling Services Agreement DISMANTLECON. Experience gained working for an International Group P&I club specialising in offshore vessels, enables Paul to combine practical understanding with the legal role. Paul is identified in the Legal Directories as one of the leading individuals in his fields and in 2019 was elected by Lloyd's List as one of the top 10 maritime lawyers and one of the 100 most influential people in the maritime industry. Paul has also contributed to the two most recent editions of “The Law Of Tug and Tow and Offshore Contracts” by Simon Rainey Q.C. – “... Paul Dean of HFW, one of the leading and busiest practitioners in the field of offshore contracts and a veritable guru on the topic of the BIMCO forms, particularly "Supplytime", who as before very kindly gave me the benefit of his great experience and practical insights and with whom once again I have had the great good fortune to work on a host of tricky problems on the various BIMCO forms ".
BIMCO's position has been approved by the BIMCO Board of Directors.
The Chairpersons of the Round Table of international shipping associations (RT) met in Rome in February to discuss current issues including piracy in the Gulf of Guinea.
BIMCO has started a discussion with members with the aim to provide a set of definitions that are practical and clear to stakeholders in the shipping industry when discussing climate change.
Chief Shipping Analyst at BIMCO, Peter Sand, chaired and spoke this week at the 3rd European Dry Bulk Shipping Market Outlook Conference in Istanbul
Providing information where seafarers can reach out directly to seek help with their mental health state of being. BIMCO members are highly recommended to inform their seafarers of this information page.
BIMCO is launching a webinar series with analysts from the industry sharing their knowledge and views of the future of commercial shipping markets, in a response to recent postponements of on-site shipping conferences and events.
