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All tankers carrying liquid cargoes governed by the International Code for Construction and Equipment of Ships Carrying Dangerous Chemicals in Bulk (IBC Code) and MARPOL Annex II should be checked and verified for compliance ahead of the regulatory changes that are taking effect from the new year.
The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.
The sanctions landscape has grown increasingly complex. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in contracts of affreightment are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes.
The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It replaces the Sanctions Clause for Time Charter Parties 2010 and the Designated Entities Clause for Charter Parties 2013 (which have been combined to make a new single clause for ease of incorporation).
BIMCO’s liquid cargo database has been updated to reflect amendments to The International Code for the Construction and Equipment of Ships Carrying Dangerous Chemicals in Bulk (IBC Code) and MARPOL Annex II Regulations for the Control of Pollution by Noxious Liquid Substances in Bulk.
Members can now view the two new cargo entries, Bauxite and Bauxite Fines, in the BIMCO solid bulk cargo database. These cargoes are to be read in conjunction with International Maritime Organization (IMO) circular CCC.1/circ. 2/rev. 1.
A Group C cargo is a cargo which is neither classified as group A nor group B. Note : Group A cargoes which possess a hazard due to moisture that may result in liquefaction or dynamic separation if shipped at a moisture content in excess of their transportable moisture limit. Group B cargoes are those which possess a chemical hazard that could give rise to a dangerous situation on a ship.
The so-called ”MARPOL Annex II surveyor” is a surveyor appointed or authorized by the Government of the Party to the MARPOL convention. (MARPOL Annex II regulation 16)
