BIMCO has updated its Radioactivity Risk Clause for time charterparties. Several changes have been made to the clause, including a provision to protect owners against the consequences of unknowingly taking on board ballast water contaminated by radioactivity, and an amendment to the radioactivity survey provision. The latter now provides for a fairer allocation of costs depending on the outcome of the survey.
BIMCO states that the objective of the clause remains the same. It aims to provide owners and charterers with “a balanced contractual solution to address the potential risk of exposure to high levels of radioactivity based on thresholds established by competent authorities”.
The full text of the clause, together with a Special Circular setting out the changes made, are available on the BIMCO website.