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19 June – known as “ Juneteenth ” – marks the anniversary of the announcement finally ending slavery in the United States.
BIMCO, International Chamber of Shipping (ICS) and Maritime and Port Authority of Singapore (MPA) launched a new cyber security awareness poster at Singapore Maritime Week 2017.
The BIMCO Standard General Average Absorption Clause, for use in marine insurance policies, was updated in 2017 to give effect to the revised York-Antwerp Rules 2016. Further modifications have now been made to streamline the basis for determining insurers’ payments. Details are set out below together with advice on adapting the clause where the underlying marine insurance policy covers more than one vessel. The 2018 clause should be used in place of the 2017 provision. The original 2002 version of the Clause, based on the York-Antwerp Rules 1994, should no longer be used.
Merete Lund Greisen is Head of Support & Advice and has been with BIMCO since April 2013 and is responsible for advising and guiding BIMCO members on contractual issues and disputes. This involves recommending the right charter party forms, commenting on terms and clauses agreed (and to be agreed), interpretation and construction of charter parties and clauses. In addition to many years of relevant experience from the chartering departments of shipowners/operators, her background also gives her a cargo owner’s point of view in all chartering aspects.
Time chartering is a complex business. The shipowners give the time charterers substantial control over the commercial operation of the vessel in exchange for the regular payment of hire.
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+45 44 36 68 00Lines are open Mon-Thurs 08:30-17:00 (CET) Fri 08:30-16:00 (CET)