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Following several discussions with the Hong Kong Shipowners Association, the administration in Hong Kong is opening for conditional but unrestricted crew change in Hong Kong.
The Law and Arbitration Clause 2020 replaces the Dispute Resolution Clause 2017. There are versions available for four named arbitration venues – London, New York, Singapore and Hong Kong. The mediation provision found in earlier versions of this clause has been removed and made into a free standing clause that parties can incorporate by choice. The Law and Arbitration Clause 2020 consists of five short subclauses. Adopted 21 September 2020
BIMCO will offer market insights at the inaugural Capital Link Hong Kong Maritime forum and at the Asian Logistics and Maritime conference.
During a visit to Bangladesh by Norwegian authorities, the Norwegian Shipping Association, the European Community Shipowners’ Association, the International Chamber of Shipping and BIMCO, between 8-11 May 2023, the Bangladesh Government confirmed that the country will ratify the Hong Kong Convention, allowing for the convention to enter into force.
BIMCO’s new standard term sheet for bilateral ship financing transactions, SHIPTERM, will be the focus of two seminars taking place in Singapore on 24 May and Hong Kong on 25 May.
The addition of Hong Kong as the fourth named arbitration option has prompted BIMCO to overhaul its law and arbitration clause. The new edition was approved for publication at the recent meeting of BIMCO’s Documentary Committee and is available to download from our website.
Almost 14 years after the adoption of IMO’s Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, the window for its entry into force is becoming smaller. Yet, a good understanding of where we are and where we need to be, can facilitate the enactment of the Convention.
This is a significant milestone that effectively seals the loopholes and further strengthens the international ship recycling regime.