BIMCO has published a precedent clause designed to address some concerns about sanctions. Most major sanctions regimes, including those of the US and EU, include lists of designated parties with whom it is effectively prohibited to do business. Under the EU regime, for example, all assets of designated parties must be frozen and it is
charterparty clauses
BIMCO updates Radioactivity Clause
By Alexandra Allan on
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…
Seizure by Pirates held to be an Off-Hire Event
By Alexandra Allan on
In Osmium Shipping Corp v Cargill International SA [2012] EWHC 571 (Comm), the Commercial Court considered the grammatical structure and syntax of an off-hire clause in the context of whether seizure of the vessel by pirates constituted an off-hire event.
The charterparty was on an amended NYPE 1946 form, and the off-hire clause in…
High Court considers the meaning of the words “price actually paid” in clause 15 of SHELLTIME4
By Alexandra Allan on
Clause 15 of SHELLTIME4 provides as follows:
“Charterer shall accept and pay for all bunkers on board at the time of delivery, and Owners shall on redelivery (whether it occurs at the end of the charter or on the earlier termination of this charter) accept and pay for all bunkers remaining on board, at the…
BIMCO publishes Slow Steaming Clause for Time Charterparties
By Alexandra Allan on
BIMCO has published a slow steaming clause for use in time charterparties. This clause was developed with the aim of balancing Charterers’ wish to control the speed of the vessel by giving express instructions, and Owners’ concerns about the consequences of complying with such instructions.
Various technical and legal issues need to be taken into…