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BIMCO is excited to announce three webinars in Spanish.
With around 2,000 members in more than 130 countries , BIMCO enjoys a very diverse membership which is both a tremendous strength and a challenge. Considering such a global membership covering all shipping sectors, w e are often asked how our organisation can successfully represent our members at the International Maritime Organization (IMO) and how we can produce contracts and clauses that are balanced and fair .
The latest edition of this clause is the Russian Oil Price Cap Scheme Clause 2024 with an additional attestation for ancillary costs breakdowns. International sanctions regimes are constantly changing with new restrictions being added and new requirements coming into force. As a result of the implementation by the EU/G7 of a price cap on certain oil products originating in or exported from Russia, BIMCO has developed a clause in order to enable the parties to a charter party or similar contract to manage the legal and practical risks arising in connection with the Price Cap Scheme. The clause aims to establish a set of rights and obligations applicable to those parties, covering compliance with the attestation and price information requirements under the Price Cap Scheme, and create a mechanism for dealing with situations where there is non-compliance with those requirements while keeping in mind the commercial aspects of oil trades. *The scope of the clause is specifically limited to the oil products as "cargo" carried onboard and does not include bunkers.
Panamax: Whilst the market remains firm, index routes remained fairly flat today with the market seemingly awaiting the next move. The Baltic Exchange daily fixture report features daily updates on the Baltic exc hange indexes, timecharters, periods, voyage fixtures and is listed by ship name, size, delivery place and freight rate. The daily dry bulk market report by th e Baltic Exchange contains news impacting the following segments; capesize, panamax, supramax and handysize.
Regulations governing the sea shipment of charcoal cargoes in packaged form under the International Maritime Dangerous Goods (IMDG) Code have been revised recently, pending official approval, at the International Maritime Organization's Sub-Committee for the Carriage of Cargoes and Containers (CCC) and its Editorial and Technical Group (E&T) meetings held from 20 September to 6 October 2023. This article provides the full details on what these changes are, their impact and when they will take effect.