BIMCO Updates SUPPLYTIME for Offshore Charters
Now in its fourth edition, BIMCO’s best-selling contract has been updated to reflect contemporary shipping practice and legal developments in the offshore sector. It has a purer knock for knock liability regime and is more neutrally balanced than its predecessor. The first edition of SUPPLYTIME appeared in 1975. It was developed to meet the demand for specialist support vessels to serve a rapidly growing offshore oil and gas exploration and production industry. Since then, SUPPLYTIME has become the benchmark for offshore support vessel agreements – and the industry’s contract of choice. Ian Perrot, who led the SUPPLYTIME revision project team said: "Over the past ten years or so we have seen a hardening of the terms and conditions in charterers’ own contracts.
TITAN Salvage Opens Fourth Facility in Cairns, Australia
Team Springs into Immediate Action with Successful Rescue and Salvage of Two Stricken Vessels in Waters Surrounding Australia. To meet the needs of changing market conditions and increased commercial vessel traffic in and around the Great Barrier Reef, TITAN Salvage has established a new office and equipment depot in Cairns, Australia. The presence in the Pacific Southeast enhances the company’s marine salvage, wreck removal and emergency response capabilities in the region. With this new depot, also comes the region’s introduction to new subsidiary TITAN Maritime (Australia) Pty.
