BIMCO Search Results

Results for:Guarantee

Showing 1 - 10 of 304

Filter by area
Filter by location
Filter by content

Tanker market report 17 September 2021

21 September 2021

The news that the Nigerian National Petroleum Company (NNPC) intends to take a 20% stake in the $18 billion under-construction Dangote Refinery caused us to stop and consider what the impact of this would be. Then a couple of weeks later it was announced that NNPC will supply at least 300k b/d of crude to the 650 k b/d refinery. This is a bold move as it will bolster domestic supply security to the new refinery and guarantee an outlet for the country’s crude. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.

BIMCO's Peter Sand to speak at Journal of Commerce webinar on 16 September

02 August 2021

The Suez Canal blockage, COVID-19 cases shutting down the world’s third busiest container terminal of Yantian, record low carrier schedule reliability, growing congestion across North Europe, and chronic vessel space and equipment shortages. The disruption is also flowing downstream and impacting short-sea shipping and inland logistics providers. The panel will discuss what must change within the Asia-Europe supply chain before any normalisation can occur.

BIMCO publishes new standalone Refund Guarantee for Shipbuilding Contracts

17 June 2021

A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committee has adopted a clearly worded standalone refund guarantee that will assist parties in their shipbuilding projects.

BIMCO invites your comments on Refund Guarantee

25 March 2021

Refund guarantees are complex legal documents and must meet the requirements of the issuing banks. BIMCO has, in close co-operation with legal and commercial experts, banks and shipyards, been working to develop a standard refund guarantee which can be used for shipbuilding contracts, such as SAJ.