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New gas charter party hits the mark in busy market environment

01 October 2021

ASBAGASVOY, the new voyage charter party for gas tankers developed jointly by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) has seen a rapid uptake after its release to the market in September 2020. Christian Hoppe, BIMCO’s General Counsel, has talked to BW LPG, Petredec and Clarksons about why ASGABASVOY was their preferred choice of charter party in a recent LPG fixture.

BIMCO Infectious Diseases Clause and the allocation of COVID risks in charter parties

31 August 2021

BIMCO's Nina Stuhrmann, Manager, Contracts & Clause, will be taking part in a joint seminar between 4 Pump Court and BIMCO to discuss the forthcoming re-draft of the BIMCO Infectious Diseases Clause and, more widely, issues arising under many charter parties about who bears time and money consequences of delays and disruption.

AIS Switch Off Clause 2021

16 July 2021

AIS manipulation is one tool used by parties to evade sanctions. This clause addresses this issue and is part of the BIMCO suite of sanctions clauses. It is intended to be part of a company’s sanctions compliance due diligence programme. Although the continuous operation of a ship’s Automatic Identification System (AIS) is mandatory under SOLAS, there are circumstances where it may be legitimately be switched off. The purpose of the clause is to ensure that when this is done legitimately, it does not give rise to termination rights and ensures a balance of the rights and responsibilities between owners and charterers in preventing AIS manipulation to evade sanctions.