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In this short video Grant Hunter talks to BIMCO’s head of Support & Advice, Merete Greisen, about answers they give members to the five most frequently asked questions.
The Charter Party Workshop (Masterclass) Online is a series of 10 online sessions and combines a range of lecturers on voyage and time chartering with sessions on related day-to-day issues and troubleshooting.
Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two new standard clauses for time and voyage charter parties. Risk allocation is based on the “sphere of responsibilities” approach taken by the Court of Appeal of England and Wales in the "Global Santosh" judgment . Under this approach, a distinction is drawn between issues such as the management of the ship and its crew, which fall within the owners’ sphere of responsibility, and employment for use of the ship which falls within the charterers’ sphere of responsibility. This clause was published on 14 June 2019.
The latest edition of this clause is the ISPS/MTSA Clause for Voyage Charter Parties 2005
The recently imposed new restrictions in several ports will have an impact on the operations of ships. Performing crew changes will very likely become more difficult and result in floating quarantines, meaning that more delays and disruptions in supply chains can be expected. With the new variant creating uncertainty for shipowners, even more complex planning will be needed to avoid financial losses.
The Standard Time Sheet (short form) was published in 1975 and is recommended by BIMCO and FONASBA (the Federation of National Associations of Ship Brokers and Agents) to assist in the calculation of laytime. The latest edition of this document in the Standard Time Sheet (short form), issued in 1975.
