Showing 1 - 10 of 200
Providing guidance and the course of action required when you cannot find the cargo and its carriage requirements in the International Maritime Solid Bulk Cargoes (IMSBC) Code.
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 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).
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.
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.
SOLAS Chapter VII part B - Construction and equipment of ships carrying dangerous liquid chemicals in bulk - made the International Code for the Construction and Equipment of Ships Carrying Dangerous Chemicals in Bulk, in short - the IBC code - mandatory for chemical tankers constructed on or after 1 July 1986.
How does the International Maritime Solid Bulk Cargoes (IMSBC) Code work? When is it applicable? What are the things you need to look out for in the Code? Find your answers here in our BIMCO basic IMSBC Code Step-by-Step User Chart Guide which gives you a good overview of the requirements of the IMSBC Code.
BIMCO started reporting from 30 September 2020, a series of articles, informing members of what to expect in the revised International Maritime Solid Bulk Cargoes (IMSBC) Code ( Amendment 05-19), which will come into force on 1 January 2021. This is the 3rd article of the series. Today, BIMCO reports on new cargoes that are being added to the IMSBC Code.
