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BIMCO has published an updated version of its widely used Hull Fouling Clause for Time Charter Parties. The new edition more clearly sets out the circumstances and point in time when responsibility for hull cleaning passes from owner to time charterer.
A first draft of the BIMCO Force Majeure Clause will be presented for review at the BIMCO Documentary Committee meeting 25-26 January 2021.
Many container operators use charter party trade limits as a sanctions management tool when operating liner services between non-sanctioned countries. To provide an alternative contractual solution and to proactively address the current trend to impose sanctions on the shipping industry, BIMCO is currently developing a sanctions clause specifically designed for time chartering container ships.
BIMCO has started work on standard arrest clauses for use in charter parties.
BIMCO will produce several clauses dealing with specific issues related to 2020, as making one clause to fit all concerns was deemed unworkable. The first 2020 clause – focused on compliance - may be published as soon as end October.
BIMCO has received comments concerning the arrival of a new breed of clauses seeking to shift risks traditionally falling within the charterers’ sphere onto the owners.
The drafting team set up by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) to develop the recently published gas tanker charter party ASBAGASVOY has drafted a document containing additional clauses for possible use with the new charter.
BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.
As part of its effort to openly share COVID-19 information and advice with the industry BIMCO has published a Q&A on its Infectious Diseases Clauses.
BIMCO has started work to develop a new Law & Arbitration Clause. The new clause will provide a short and “one size fits all” approach to dispute resolution, while adding Hong Kong as the fourth named arbitration venue. The addition of Hong Kong reflects its increased popularity as a centre for dispute resolution and that it is currently ranked among the top maritime arbitration centres in the world.
