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Suspending performance under BARGEHIRE – a useful right for owners?

29 May 2020

Under a conventional cargo time charter party, the right to suspend performance for non-payment of hire provides owners with a powerful commercial tool to leverage late hire payments. However, based on industry feedback, applying the same sanction under BARGEHIRE is impractical.

Tanker market report dated 25 October 2019

29 October 2019

Back in May we discussed the IMO’s plan to reduce CO2 emissions by 40% by 2030 and GHG emissions by 50% by 2050 (compared to 2008 levels). The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 31 May 2019

03 June 2019

Many industries, including shipping, are facing an increasing environmental pressure to act upon the Paris Agreement. In April last year, the IMO’s Marine Environmental Protection Committee (MEPC) set out their initial strategy, which envisages the reduction of greenhouse gas (GHG) emissions by at least 50% by 2050 compared to 2008 levels. The ambition also is to reduce CO2 emissions (which account for about 82% of all GHG emissions) by at least 40% by 2030, pursuing efforts towards 70% by 2050 from the 2008 baseline. The weekly tanker market report by Gibson Shipbrokers.