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BIMCO force majeure clause under way

04 September 2020

With an increasing focus on force majeure due to the COVID-19 outbreak, BIMCO has gathered a drafting team to develop a free-standing force majeure clause for use in a variety of contracts.

Documentary Committee to focus on carbon clauses at February gathering

09 February 2022

BIMCO’s approval body for contracts and clauses will meet online on 23 February. The development of a series of carbon clauses is high on the Committee’s agenda. An Emissions Trading System Allowances (ETSA) Clause for time charters is up for adoption and the Committee will also be asked to review a first draft of a CII Compliance Clause. Both clauses follow hard on the heels of the EEXI Transition Clause published in December last year as part of BIMCO’s prioritised roll-out of carbon-related clauses for the industry.

Grain agreement could see 65% of Ukraine’s seaborne capacity reopen

27 July 2022

On 22 July, Russia and Ukraine signed an agreement with Turkey and the United Nations to allow grain exports from three ports in western Ukraine: Yuzhne, Chornomorsk, and Odesa. Combined, the three ports accounted for 65% of the country’s total grain exports over the past five years. Exports could, however, face several difficulties.