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Russia appears to have launched a full-scale invasion of Ukraine and maritime security will likely be affected.
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.
Recognising the growing importance of maritime digitalisation and that exchanging data – administrative as well as business related – is a competitive factor for the shipping industry, BIMCO is establishing a network to support members on maritime digitalisation.
Jeppe Skovbakke Juhl, Manager of Maritime Safety & Security at BIMCO, talked about the Maritime Single Window, which links to the newly-adopted IMO requirements making the single window for data exchange mandatory in ports around the world from 1 January 2024. This is a significant step in the acceleration of digitalisation in shipping, and a window of opportunities.