BIMCO Search Results

Results for:Featured%20Item

Showing 1 - 10 of 17

Reset Filters

Filter by area
Filter by location
Filter by content

Sanctions Clause for Container Vessel Time Charter Parties 2021

08 November 2023

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.

Sanctions Clause for Voyage Charter Parties 2020

08 November 2023

The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. 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. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. 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 is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.

Sanctions Clause for Contracts of Affreightment (GENCOA) 2022

08 November 2023

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.

Tanker market report dated 7 May 2020

11 May 2020

In recent weeks reports about floating storage have featured in the international press. In the 2nd half of April Reuters reported that oil held in tanker floating storage reached at least 160 millio barrels, including 60 VLCCs, up massively from levels witnessed just a couple of months ago. The weekly tanker market report by Gibson Shipbrokers.

Gulf of Guinea Piracy Continues to Threaten Seafarers – Industry Wants Action Now

10 June 2019

London: Friday, 7 June 2019. Members of the shipping community, Flag States and Agencies from Gulf of Guinea gathered at the Headquarters of the International Maritime Organization (IMO) for a day-long symposium on Maritime Security in the Gulf of Guinea. The event, co-sponsored by BIMCO, IMCA, ICS, ITF and OCIMF, featured speakers from regional maritime agencies as well as shipping officials, academics and military staff. The shipping industry, along with seafarer groups, organized the event to highlight the continuing danger to seafarers operating in the Gulf of Guinea.

Meet BIMCO’s Chief Shipping Analyst at Bloomberg Intelligence in London, UK

29 August 2019

Join Peter Sand at the London International Shipping Week, where he will be participating in the Navigating Through IMO 2020 amid slowing growth discussion hosted by Bloomberg Intelligence. The discussion will cover the outlook for the commercial shipping markets, alongside an IMO panel discussion on how to prepare for the upcoming IMO 2020 Sulphur Cap. The event will be followed with a networking reception.