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With the future of crewing high on the agenda, BIMCO and ICS are preparing for the launch of the latest Seafarer Workforce Report (previously known as the Manpower Report), the industry standard resource for ship operators, agencies and governments seeking the market intelligence they need to develop crewing and training strategies fit for the future.
The sanctions landscape has grown increasingly complex. 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 contracts of affreightment 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 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.
In view of this extraordinary crisis, BIMCO has made all COVID-19 related content on its website open and free for everyone.
The Italian tanker owner, Fratelli d’Amico Armatori, reached a new level of insight on its crew retention and crew management after their company began comparing their fleet using BIMCO’s Shipping KPIs.
BIMCO has joined the Neptune Declaration on Seafarer Well-being and Crew Change, and was encouraged to see the first publication from the Together in Safety initiative. The initiatives signal the need for increased collaboration in the face of great challenges.
