In Shipping Law News 07/03/2016
Some of the topically inspired new features are:-
Clause 10 brings within the printed clauses payments for intermediate/final hold cleaning and C/V/E charges.
Inevitably these changes can be expected to give rise to a raft of new litigation.
Bimco, Asba and the Singapore Maritime Foundation (SMF) have collectively produced a new time charterparty template named NYPE 2015.
The new form offers alternative clauses depending on whether the vessel is to be fixed on a period trip basis. It contains a considerably more detailed and structured Vessel Description Appendix looking to assist parties who have previously described the vessel in the recap using their own format.
Clause 9 re Bunkers has been considerably amended to include detailed additional clauses in relation to sampling, quality, fuel testing and sulphur content.
Clause 11 includes acknowledgement of the right of Owners to damages for the loss of the remainder of the charterparty following withdrawal. It also includes a right to suspend performance.
Clause 12 radically changes speed and consumption claims as it provides for a continuous warranty. It is expressly provided that underconsumption can be off-set against underperformance and vice versa. In the event of a dispute an independent expert is to be mutually appointed who shall take both ship’s log and weather service dates into account and his determination shall be final and binding.
Lien clause 23 has been amended to include a lien on deadfreight and demurrage due to Charterers or subcharterers. The Bimco Hull fouling clause is inserted as clause 30. A slow steaming clause has been introduced as well as the Bimco War Risk Clause CONWARTIME 2013, the Bimco Piracy clause for time charterparties 2013 and other Bimco standard clauses. The Arbitration clause 54 specifically provides that disputes under USD100,000 shall be resolved via the LMAA Small Claims Procedure.
Source: Waterson Hicks
