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BIMCO publishes Sanctions Clause for the container trade

25 January 2021

A new time charter sanctions clause specifically designed for the container shipping sector has been published by BIMCO. The BIMCO Sanctions Clause for Container Vessel Time Charter Parties 2021 is part of an initiative to create a library of sanctions clauses that reflect the individual needs and characteristics of different trades and operations.

Chartering fraud

29 May 2020

BIMCO has warned against situations where fake “brokers” will attempt to trick owners into fixtures where there is no cargo available. The con also involves a request for advance funds to be remitted to an account allegedly belonging to the “agents” at the loading port.