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New LNG voyage charter party LNGVOY was the focus of a seminar held at the Japan Shipping Exchange on 21 October jointly presented by BIMCO and law firm Stephenson Harwood.
The Anti-Corruption Clause for Charter Parties 2015 provides market users with a regime for responding to unlawful demands for gifts in cash or kind, such as cigarettes or alcohol. It is designed for use in both voyage and time charters and sets out a series of steps with the contracting parties working together to resist such demands but if this fails, owners’ rights to hire or uninterrupted laytime and demurrage are protected. Termination, by either party, is the ultimate sanction but a high threshold has been set so that it cannot be easily used as an exit from an inconvenient charter. This clause was published on 7 December 2015.
An outbreak of a virulent disease such as the Novel Coronavirus can have potentially significant implications for ship owners and operators.