BP AMOCO, BIMCO CREATE NEW TANKER CHARTER PARTY DOCUMENT
BP Amoco Shipping and the Baltic and International Maritime Council have created a new charter-party document for the tanker industry.
“We wanted to draw up a charter party that is easy to read, easy to use and reflects the interests of both parties,” said Adrian McMahon, manager of chartering and operations at BP Amoco Shipping.
BIMCO, which represents numerous carriers and shipowners, began working with BP Amoco on the charter party in the spring of 1999. The new form even deals with contentious issues, such as cancellations, speed and performance of delivery and redelivery, and dispute resolution.