BIMCO Tackle Shipping Issues at Singapore Meeting

Press Release
Wednesday, April 25, 2012

BIMCO's Documentary Committee discuss maritime issues, adopts pooling agreement, new standard clauses for EU advanced cargo declarations

BIMCO’s Documentary Committee, chaired by Mr Karel Stes, gathered in Singapore for its spring meeting on 23 April. The Committee’s contract experts reviewed a number of new contracts and clauses dealing with a wide variety of topical subjects ranging from wind farms to solid bulk cargoes that can liquefy.

A new standard pooling agreement was adopted following two and half years of development work. Also adopted by the Committee were three new standard clauses covering EU advanced cargo declaration requirements under voyage charter parties; slow steaming under a voyage charter; and a clause addressing the very topical issue of solid bulk cargoes that liquefy.

The Committee also discussed a number of on-going going projects as well as adding several new tasks to its busy work programme. There were two clauses considered by the Committee which were returned to their respective drafting groups for further work because consensus could not be reached on their adoption. The clauses deal with hull fouling and compliance with OFAC.

As far as hull fouling goes, the Committee members felt that further consideration needed to be given to the duration of idling as a result of charterers’ orders following which the owners’ performance warranty would be suspended pending inspection and/or cleaning of the hull by the charterers. The proposed OFAC Clause provides a mutual obligation on owners and charterers to warrant that they are not on the OFAC SDN list and that the ship is not a Blocked Vessel. However, the reporting requirements proposed in the clause were felt by the Committee members to go beyond what is normally expected in a commercial agreement.

The Committee also reviewed a first draft of the WINDTIME time charter party being developed for the offshore wind farm industry.

Virtual Arrival was another issue discussed at the meeting. It had originally been planned to draft a slow steaming clause for voyage charter parties that incorporated a virtual arrival provision. However, the drafting group quickly concluded that this would result in an overly complex clause and that the issue of slow steaming under a voyage charter and virtual arrival should be dealt with in two separate clauses.

 

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Canada Opts Out of Arctic Council Meeting

Canadian Environment Minister Leona Aglukkaq stated that a principled stand had been taken by Ottawa against Moscow's intervention in events in Ukraine, reports

Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues.

WireCo Acquires Netherlands’ Endenburg

Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes,

Contracts

Padbury delays detailing port funding

Padbury Mining on Thursday failed to reveal the investors behind a more than $6 billion port and rail project in Western Australia's iron ore belt, asking for its

JFD Awarded Australian Navy Commendation

Commendation awarded by the Royal Australian Navy for dedicated work, commitment and support for Exercise Black Carillon 2013   James Fisher Defence (JFD) has

Samsung Heavy Takes Up 7 Container Ship Order

South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned.

Legal

Litigation Can Cost Shipbrokers an Arm & a Leg

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts,

Attestation / Endorsement services for seaman in UAE

The Maritime Administration of the United Arab Emirates has introduced services for the attestation of seaman contract and issuance of oil/chemical/gas tanker endorsement.

Concordia Captain Tried to Blame Wreck on Electrical Blackout

The captain of the Costa Concordia tried to persuade the crisis coordinator of the cruise line to pretend an electrical blackout had caused the shipwreck, a court was told on Monday.

Insurance

South Korean Ferry Incident Update

Almost 100 ships, 18 helicopters involved in rescue; as many as 340 people from one school thought to be on board. Accident may be South Korea's biggest in 20 years.

TT Club Signs Partnership in The Philippines

Specialist transport insurance provider, TT Club has appointed a network partner in The Philippines.  Del Rosario Pandiphil Inc. becomes the seventh such partner

Coast Guard Seeks Comment on New Safety Training

U.S. Coast Guard advance notice of proposed rulemaking seeks comments on maritime safety training requirements   The U.S. Coast Guard Monday, April 14, 2014,

Logistics

SC Ports Report Record Pier Container Volumes

Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,

Quiet March Sees Cargo Slow in Long Beach

Harsh winter elsewhere, ship deployment changes soften traffic Container volumes at the Port of Long Beach dipped in March, compared to the same month one year ago, with a decline of 1.

West Coast is Key for Exporting Bigger Canada Crops

Canada needs to invest in shipping more grains and oilseeds off the West Coast as harvests get larger, to avoid the massive transportation backlogs that followed last year's record crops,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1346 sec (7 req/sec)