Thursday, April 23, 2015

GLOBAL SHIPPERS FORUM, BIMCO, CONTAINER CONTRACT

Global Shippers Forum, BIMCO unveil standard container contract

Product is aimed at small and medium sized shippers.

   Global Shippers Forum has joined forces with the Baltic International Maritime Council Organization to launch a standardized container shipping contract.
   GSF said in a statement the BIMCO/GSF Standard Container Contract is "the world’s first standardized contract terms and conditions for use in container shipping markets worldwide" and the result of discussions between GSF and BIMCO over a two year period with shipper and carrier representatives in a joint group.
   Because NIT League is a member of the GSF, "we were involved in providing a US perspective and congratulate BIMCO and the Global Shippers Forum for their collaborative success on producing this model contract," said Donald Pisano, president of American Coffee Corp. and chairman of the NIT League's Ocean Transportation Committee. "I believe it will benefit mostly the smaller to medium sized shippers but am sure even larger shippers will be interested in reviewing the terms and conditions."
   GSF has also provided clause-by-clause analysis of the terms and conditions, and legal guidance on the standard terms and conditions in the contract.
   "Container shipping is characterized by a small number of very large shippers with high shipment demands, many of whom have individualized service contract arrangements, but the majority of small to medium sized shippers who transportation needs range from relatively modest cargo movements to significant numbers of containers haven’t been able to negotiate firm contractual agreements – until now,” said Chris Welsh, the secretary-general of the GSF.
   Welsh said "the contract is free of charge and available to everyone. All we ask is for shippers to register with us, so we can keep track of potential users."