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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 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.
With effect from 1 March 2018, MARPOL Annex V and the related guidelines were amended to effect changes relating to substances that are harmful to the marine environment and form of garbage record book.
BIMCO providing easy-to-understand information about HME substances and its relation to MARPOL Annex V and the IMSBC Code.
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+45 44 36 68 00Lines are open Mon-Thurs 08:30-17:00 (CET) Fri 08:30-16:00 (CET)