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Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO


Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity planning. In the scheduled liner industry, slow steaming and “super” slow steaming has been a common practice for several years. Other sectors of the industry are now looking at the possibility of slow steaming, but are aware of the need for a special provision to incorporate into their charter parties to deal with the legal and technical aspects of this practice. In response to this demand BIMCO has been working over the past year on developing two new standard charter party clauses – one for time charter parties and the other for voyage charters.

The first to be published is the time charter clause which was adopted by BIMCO’s Documentary Committee in November. The Clause has been issued as a Special Circular to Members (No. 7, dated 23 December 2011)

BIMCO has consulted with the major engine designers during the development of the Clause to ensure that the technicalities of slow steaming are properly reflected in its provisions.

The legal aspects of slow steaming under a time charter party primarily relate to the owners’ obligations to follow the charterers’ slow steaming instructions while taking into account the safety of the vessel, crew and cargo and obligations towards third parties, such as holders of bills of lading. All of these issues have been addressed in the Slow Steaming Clause for Time Charter Parties with valuable input provided by lawyers and P&I Club representatives.

A voyage charter party edition of the Clause will follow shortly.
Source: BIMCO / Hellenic Shipping



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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...


Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
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Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped  33.476* mln mt of coal in November, which is slightly higher than its Octobe ...


Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
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Monday, 19 December 11
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