As part of its effort to openly share COVID-19 information and advice with the industry BIMCO has published a Q&A on its Infectious Diseases Clauses.
In view of this extraordinary crisis, BIMCO has made all COVID-19 related content on its website open and free for everyone.
BIMCO has developed four annexes for specialised tasks not covered under the SUPPLYTIME charter party.
The threshold for invoking BIMCO’s Infectious or Contagious Diseases (IOCD) Clauses is necessarily set at a high level to avoid misuse. The two clauses, one for time and the other for voyage charters, are designed to respond to extreme outbreaks of diseases and not just “everyday” illnesses.
The spread of the COVID-19 virus is causing significant issues in the shipbuilding industry, but English law has no general concept of force majeure, and this is a key factor in the relationship between shipyards and shipowners.
Following a first industry consultation on ASBAGASVOY – a gas tanker voyage charter party based on ASBATANKVOY – the joint BIMCO/ASBA subcommittee in charge of developing the new charter party has agreed a revised draft and invites comments from the entire gas tanker industry.
Many container operators use charter party trade limits as a sanctions management tool when operating liner services between non-sanctioned countries. To provide an alternative contractual solution and to proactively address the current trend to impose sanctions on the shipping industry, BIMCO is currently developing a sanctions clause specifically designed for time chartering container ships.
The shipping industry’s most widely used dry cargo voyage charter party, GENCON, is being revised and updated for the first time in 25 years and will be published later this year. BIMCO is delighted to invite you to a free seminar on the revised GENCON 1994 charter party and wants to hear your opinion on the new form.
Disagreements between owners and charterers over the cost of repairing damage to redelivered unmanned barges have prompted a review of BARGEHIRE 2008 to help reduce the risk of disputes.
BIMCO has received numerous enquiries from members uncertain about how the Novel Coronavirus outbreak will impact contracts. The following includes some general remarks, but it is important to evaluate carefully each situation on its own merits.