Showing 41 - 50 of 200
BIMCO’s Documentary Committee has approved two clauses and one contract for publication: The much-awaited Emissions Trading System Allowances (ETSA) Clause for Time Charter Parties 2022, the Infectious or Contagious Diseases (IOCD) Clause for Time Charter Parties 2022 and a revised version of GENCON.
BIMCO has decided to start labelling all versions of its standard clauses with the year of publication, including the original edition, with the aim to reduce disputes over which version parties have agreed to.
BIMCO has published a new clause that can either replace or supplement existing redelivery clauses in time charter parties.
In 2021 BIMCO initiated a project to develop a suite of LNG fuel clauses for time charter parties. The number of LNG fuelled ships in operation is growing steadily and the suite reflects the need to have bespoke clauses in time charters for these ships. The LNG clauses cover matters related to the LNG quality, delivery/redelivery, gas-freeing and cooling down and an operational clause. For dual-fuel ships the clauses are intended to be used together with the existing BIMCO bunker clauses for conventional fuel oils. The current suite of LNG fuel clauses for use in time charter parties also consists of: LNG Bunker Operational Clause for Time Charter Parties LNG Fuel Gas freeing and Cool down Clause LNG Fuel Quality Clause
BIMCO has started work on standard arrest clauses for use in charter parties.
BIMCO’s approval body for contracts and clauses will meet online on 23 February. The development of a series of carbon clauses is high on the Committee’s agenda. An Emissions Trading System Allowances (ETSA) Clause for time charters is up for adoption and the Committee will also be asked to review a first draft of a CII Compliance Clause. Both clauses follow hard on the heels of the EEXI Transition Clause published in December last year as part of BIMCO’s prioritised roll-out of carbon-related clauses for the industry.
In light of the recent development, BIMCO recommends using the latest editions of its War Risks clauses: BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013) and BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013). These clauses contain a broad definition of “War Risks” that include warlike operations and hostilities that do not require a declaration of war by states. However, it is of utmost importance that all parties involved have a comprehensive understanding of these clauses, ensuring they are well-informed and prepared for any potential outcomes.
