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July 2016

Updated HYDROCHARTER heads for adoption

Norsk Hydro and BIMCO are working together to update the HYDROCHARTER voyage charter party.

BIMCO updates New York and Singapore arbitration clause options

A new edition of BIMCO’s Dispute Resolution Clause has been published. New wording has been added to the US law, New York arbitration option to ensure that non-maritime contracts (such as shipbuilding contracts) are not inadvertently excluded from the scope of the clause.

Spill response tackled in new contract

The International Spill Control Organization (ISCO) and BIMCO are working together to develop a standard contract for spill response services. The contract is expected to be published by the end of the year.

June 2016

Latest news on BIMCO's contracts and clauses

Latest news about BIMCO's contracts and clauses: New novation agreements; update on revision of SUPPLYTIME, BARECON and WORLDFOOD charter parties; update on Standard Term Sheet.

BIMCO launches new standard agreements for novation of shipping contracts

BIMCO has today published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.

BIMCO President comments on standard term sheet

BIMCO President and Chairman of Louis Dreyfus Armateurs, Philippe Louis-Dreyfus opened the Armateurs de France and BIMCO event in Paris on 14 June 2016.

Update on ship financing term sheet project

BIMCO’s Standard Term Sheet Subcommittee met on 15 June to consider feedback received on the draft term sheet agreed by the subcommittee in March...

May 2016

General Average: York-Antwerp Rules 2016

Further to the adoption by the Comité Maritime International (CMI) of a new set of York-Antwerp Rules (YAR), BIMCO’s Documentary Committee has decided that all new and revised BIMCO charter parties, bills of lading and waybills will refer to general average being adjusted in accordance with the YAR 2016.

International Group promotes 2011 Inter-Club Agreement with charter party clause

The International Group of P&I Clubs is encouraging the industry to incorporate and apply the 2011 Inter-Club Agreement (ICA) into all NYPE and ASBATIME time charter parties. The newly published NYPE 2015 already contains a clause expressly providing for the 2011 edition of the ICA. BIMCO recommends that members apply the 2011 ICA to help apportion liability for cargo claims under the NYPE charters.

Novation trio approved by Documentary Committee

BIMCO's Documentary Committee met on 10 May in Copenhagen and approved for publication three standard novation agreements for time charter parties and shipbuilding contracts.

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