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The Standard Statement of Facts (Oil and Chemical Tank Vessels) was published in 1975 and is recommended by BIMCO and FONASBA (the Federation of National Associations of Ship Brokers and Agents). The latest edition of this document is the Standard Statement of Facts (Oil and Chemical Tank Vessels) (short form), issued in 1975.
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. 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 contracts of affreightment 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 NATO Shipping Centre maintains a 24/7/365 oversight of security developments in the Euro-Atlantic area, the Mediterranean Sea, and the Black Sea. Shipowners are reminded of the Voluntary Reporting Scheme for the Mediterranean Sea.
With sanctions imposed on Russian interests by the EU, UK, US and others, it is crucial that shipowners and operators check their counterparts and contracts immediately. The situation is currently changing rapidly, and more sanctions announcements could be on the way.
With sanctions imposed on Russian interests by the EU, UK, US and others, it is crucial that shipowners and operators check their counterparts and contracts immediately. The situation is currently changing rapidly, and more sanctions announcements could be on the way.
The Standard Statement of Facts was published in 1975 and is recommended by BIMCO and FONASBA (the Federation of National Associations of Ship Brokers and Agents). The latest edition of this document is the Standard Statement of Facts (short form), issued in 1975.
These position statements summarise BIMCO’s viewpoint on topical issues of relevance for our members. They reflect the wide-ranging work that BIMCO is involved in regarding development of the international regulatory environment shipping operates in and also some commercial elements. The topics listed reflect the current ongoing international agenda and may change depending on regulatory developments and on whether they continue to be of concern to our members.
