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Arrest Clause for Voyage Charter Parties 2019

07 February 2019

Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two new standard clauses for time and voyage charter parties. Risk allocation is based on the “sphere of responsibilities” approach taken by the Court of Appeal of England and Wales in the "Global Santosh" judgment . Under this approach, a distinction is drawn between issues such as the management of the ship and its crew, which fall within the owners’ sphere of responsibility, and employment for use of the ship which falls within the charterers’ sphere of responsibility. This clause was published on 14 June 2019.

Arrest Clause for Time Charter Parties 2019

07 February 2019

Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two new standard clauses for time and voyage charter parties. Risk allocation is based on the “sphere of responsibilities” approach taken by the Court of Appeal of England and Wales in the "Global Santosh" judgment . Under this approach, a distinction is drawn between issues such as the management of the ship and its crew, which fall within the owners’ sphere of responsibility, and employment for use of the ship which falls within the charterers’ sphere of responsibility. This clause was published on 14 June 2019.

Demolition report dated 11 January 2019

14 January 2019

Instability seems to be the key word in the subcontinent markets this week, with all locations precariously poised and seemingly heading downwards, as 2019 embarks on a rather negative and tentative start. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 27 December 2019

14 January 2020

As 2019 closes and the watershed year of 2020 comes into view with the increased price of low Sulphur fuel (or installation of scrubbers) that is set to affect the bottom lines and OPEX rates of Ship Owners the world over, it is set to be a busy few years ahead for the various ship recycling destinations. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 22 November 2019

27 November 2019

The big news this week centered around the decisive steps taken by the Indian government, to approve the implementation of the ‘Recycling of Ships Bill, 2019’ and accession to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 25 January 2019

28 January 2019

Since the advent of 2019, the declines witnessed across the Indian subcontinent markets have shown no signs of abating and increasingly desperate Cash Buyers finally started to offload their hefty existing (and expensive) inventories at ever decreasing rates. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.