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The International Group of P&I Clubs is encouraging the industry to incorporate and apply the 2011 Inter-Club Agreement (ICA) into all NYPE and ASBATIME time charter parties. The newly published NYPE 2015 already contains a clause expressly providing for the 2011 edition of the ICA. BIMCO recommends that members apply the 2011 ICA to help apportion liability for cargo claims under the NYPE charters.
The US Environmental Protection Agency has announced that the awaited third Vessel General Permit (VGP 3.0) will be delayed, putting pressure on shipowners and operators to make sure they are covered prior to the December 18 deadline.
BIMCO is developing its own standard Memorandum of Agreement (MOA) for ship sale and purchase (S&P). The new BIMCO MOA is rapidly taking shape after just three meetings of the expert group, the most recent at the offices of Louis Dreyfus in Paris on 27 January.
The Novation Agreement for the Transfer of Ownership is an agreement between the parties to novate the time charter party from the original owners to the new owners on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for the Transfer of Ownership, issued in 2016. Copyright in the Novation Agreement for the Transfer of Ownership is held by BIMCO.
