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

People & Company News

Container Manufacturer Reports Profit Plunge

World-leading container manufacturer and logistics services provider Singamas Container Holdings Limited (Singamas) has  announced its unaudited interim results for the six months ended 30 June 2014.

CACI Named MSC Logistics Prime Contractor

CACI International Inc says it has been selected as a prime contractor to provide logistics support to the U.S. Navy’s Military Sealift Command (MSC) on the Worldwide

Iconic Star Ferry in Move to New Wan Chai Pier

With effect from the first departure on Saturday 30 August 2014, Hong Kong's “Wan Chai – Tsim Sha Tsui” ferry service will operate from the new Wan Chai Ferry Pier.

Contracts

CACI Named MSC Logistics Prime Contractor

CACI International Inc says it has been selected as a prime contractor to provide logistics support to the U.S. Navy’s Military Sealift Command (MSC) on the Worldwide

DoD Awards US$117-M New Orleans Dredge Contract

The US Department of Defense informs that it has awarded Boh Bros. Construction Co., LLC, New Orleans, Louisiana, a US$116,956,672 firm-fixed-price contract with

Navy CNO Sets Out Annual 'Navigation Plan'

The Navy's top leader has released a detailed plan that highlights the U.S. Navy's intended track and investments for the next 5 fiscal years, informs Chief of Naval Operations Public Affairs.

Legal

Massive Haitian Refugee Rescues off Bahamas

Coast Guard crews and Royal Bahamian Defence Force (RBDF) rescued more than 400 Haitians illegally migrating in three separate at sea interdictions in the span of 11 days, informs the US Coast Guard.

Ballast Water Management: California Update

The California State Lands Commission (CSL) has promulgated a letter to clarify its interpretation of existing ballast water requirements under the California's

Chilean Court Rejects Appeal Against Crow River Project

Chile's Supreme Court on Thursday rejected an application for an environmental organization against Crow River hydroelectric project, which plans to build in the

Insurance

Maersk Line Still the Leading Carrier on Reliability in Q2

During the second quarter, the overall industry reliability has improved. However, Maersk Line is pleased to have improved their performance so that they can

Swedish Club Results Show Improvement

The Swedish Club today announced its half-year results in which it reported that the club continued to demonstrate a solid performance in the first six months of

'Double Jeopardy – Trial by Media, Trial by Law' London Opening

BIMCO notes that the highly acclaimed "Double Jeopardy - trial by media, trial by law" first showcased at the BIMCO AGM in Dubai earlier this year is to be brought

Logistics

Container Manufacturer Reports Profit Plunge

World-leading container manufacturer and logistics services provider Singamas Container Holdings Limited (Singamas) has  announced its unaudited interim results for the six months ended 30 June 2014.

CACI Named MSC Logistics Prime Contractor

CACI International Inc says it has been selected as a prime contractor to provide logistics support to the U.S. Navy’s Military Sealift Command (MSC) on the Worldwide

Navios Maritime Reports Better Revenues for 2Q & 1H, 2014

Navios Maritime Holdings Inc. a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the second quarter and six months ended June 30, 2014.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1358 sec (7 req/sec)