In voyage charter parties, the shipowner is not obligated to keep the ship in port for loading or unloading beyond the agreed laytime, or beyond the “demurrage” period. However, if the shipowner continues to wait, any damages arising from this delay must be compensated under certain conditions. After the laytime (at loading or unloading ports) […]
Detention Damages and Compensation at Loading and Unloading Ports Read More »
Understanding Clause 16 of Gencon 2022: Suspension and Termination Background The Baltic and International Maritime Council (BIMCO) recently published its own standard charter party form for voyage charters, GENCON 22. While it was originally targeted to be introduced in 2020, due to the Covid-19 global pandemic, launching of the main contract form for the voyage
GENCON 2022 Series Read More »
BackgroundThe Baltic and International Maritime Council (BIMCO) recently published its own standard contract form for ship sale and purchase transactions, SHIPSALE 22. SHIPSALE 22 is designed to be used in the industry as a standard Memorandum of Agreement (MOA) for ship sale and purchase. FormatIt consists of two parts. The Part I has a box
SHIPSALE 2022: BIMCO’s new ship sale and purchase contract has been introduced Read More »
