Space and Non-reciprocal charter parties
Where operators have reciprocal space sharing with other operators, though they issue their own bills of lading, the standard Rules cover generally provides USD 350 million coverage per event.
However, operators frequently buy space or slots where the basis is not reciprocal, and hence need additional coverage. The Club offers various limits of coverage for the potential exposure to cargo claims under a bill of lading where cargo is carried on another owners ship.
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There has been a change in ownership of the E-TITLE electronic trading system and its underlying legal framework to software technology firm, R3; There has been a change in trading name of the E-TITLE electronic trading system to Corda eBL; Members are invited to take note of how the Corda eBL software will operate.
Congratulations to UK Club board member Nikolaus H Schües, who has been named the 46th President of BIMCO.
Founded in 1543, Santos has been long known as a port city – first through the export of coffee and then other commodities. Santos was significantly modernised and expanded in the 1990s to incorporate new technologies, operating with specialised terminals for containers, general cargo, and dry and liquid bulk, and it is responsible for almost 27% of the country’s trade. Santos is considered the largest port in Latin America, with its docks being 25 km long and able to accommodate about 50 ships at a time.
This circular confirms approval by the International Group of an updated version of the Secro Customer and User Agreement dated 16th March 2023 as well as use of the Secro Customer e-billls of lading in conjunction with the said User Agreement