Terms Of Use
02 April 2023Version 4.0, Date: April 2023
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Version 4.0, Date: April 2023
After a period with short-term container freight rates reaching record highs on many of the major container shipping trades, long-term rates are now also experiencing a boost. Particularly long-term freight rates between the Far East and the US have jumped, copying the development in short-term contracts which have seen the increase in freight rates to the US (both coasts) outpacing the rise in spot rates to Europe.
The SOVCOAL ARIC Terms were developed as additional clauses to the SOVCOAL charter party. The latest edition of these terms are the SOVCOAL ATIC Terms, applicable as from 1 November 1988.
SHIPTERM is a standardised term sheet intended for use in a bilateral, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a single lender and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM, issued in 2017. Copyright in SHIPTERM is held by BIMCO.
An outbreak of a virulent disease such as the Novel Coronavirus can have potentially significant implications for ship owners and operators.