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Results for:Voyage charter

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Arrest Clause for Voyage Charter Parties 2019

07 February 2019

Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two new standard clauses for time and voyage charter parties. Risk allocation is based on the “sphere of responsibilities” approach taken by the Court of Appeal of England and Wales in the "Global Santosh" judgment . Under this approach, a distinction is drawn between issues such as the management of the ship and its crew, which fall within the owners’ sphere of responsibility, and employment for use of the ship which falls within the charterers’ sphere of responsibility. This clause was published on 14 June 2019.

Sanctions Clause for Voyage Charter Parties 2020

31 May 2019

The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. 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. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. 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 is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.

HEAVYLIFTVOY

20 September 2016

HEAVYLIFTVOY is a voyage charter party for the mid-sized heavy lift sector carrying specialist cargo. It is a comprehensive contract providing for free-in or liner in-hook terms for loading and free-out or liner out-hook terms for discharging. HEAVYLIFTVOY operates under the conventional cargo liability regime of the Hague-Visby Rules and is designed for the carriage of multiple shipments both above and below deck. A standard bill of lading, HEAVYLIFTVOYBILL, is intended to be used with it. The latest edition of this contract is HEAVYLIFTVOY, issued in 2009. Copyright in HEAVYLIFTVOY is held by BIMCO.

COAL-OREVOY

20 September 2016

COAL-OREVOY is a standard coal and ore voyage charter party. It is accompanied by its own bill of lading, COAL-OREVOYBILL 2016. The latest edition of this contract is COAL-OREVOY, issued in 2003. Copyright in COAL-OREVOY is held by BIMCO.