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GENCOA

20 September 2016

The GENCOA is BIMCO’s standard contract of affreightment for dry bulk cargoes. A contract of affreightment is an agreement between an owner and a charterer for the carriage of a certain amount and type of goods between agreed ports over a given period of time. It is not limited to a particular ship, but operates as a series of voyage charter parties. GENCOA has been designed to be used with any dry cargo charter party, although BIMCO would recommend the use of GENCON, COAL-OREVOY or GRAINCON. The latest edition of this contract is GENCOA from 2004. Copyright in GENCOA is held by BIMCO.

GENTIME

20 September 2016

GENTIME is a standard time charter party developed for the dry cargo sector. The latest edition of this contract is GENTIME, issued in 1999. Copyright in GENTIME is held by BIMCO.

VOLCOA

20 September 2016

In 1982, BIMCO published its first standard contract of affreightment for dry bulk cargoes and codenamed it VOLCOA. It is the forerunner to GENCOA, which was issued in 2004. A contract of affreightment is an agreement between an owner and a charterer for the carriage of a certain amount and type of goods between agreed ports over a given period of time. It is not limited to a particular ship, but operates as a series of voyage charter parties.

NYPE 2015

17 October 2016

The New York Produce Exchange Form (NYPE) is the most widely used standard time charter party in the dry cargo sector. NYPE 2015 was developed in cooperation between BIMCO, the Association of Shipbrokers and Agents (ASBA), who are the copyright holders of the form, and the Singapore Maritime Foundation (SMF). The latest edition of this contract is NYPE 2015.

Dry Bulk Shipping - New orders are still inked at high pace. 2012 is now set to be the biggest delivery year of them all at 88 million DWT

10 October 2010

Following the summer dip where Capesize was hit badly, dry bulk freight rates have once again bounced back like a tumbler. Capesize rates are back at year-to-date average around USD 30,000 per day. Capesize freight rates are moving like a heartbeat, but at lower and lower pulse levels and going deeper and deeper as more vessels enter the market. In spite of remaining inefficiencies in the supply chain, slow steaming, and continued strong demand for raw materials going forward, the big ships are in for a fundamental imbalance between supply and demand.