Maritime Industry News…In Brief

ELECTRONIC BILLS OF LADING . . .BIMCO’s new charter party clause for electronic bills of lading provides a contractual solution for the creation, transfer and surrender of electronic bills. The clause states: “(A) AT THE CHARTERERS’ OPTION, BILLS OF LADING, WAYBILLS AND DELIVERY ORDERS REFERRED TO IN THIS CHARTER PARTY SHALL BE ISSUED, SIGNED AND TRANSMITTED IN ELECTRONIC FORM WITH THE SAME EFFECT AS THEIR PAPER EQUIVALENT. (B) FOR THE PURPOSE OF SUB-CLAUSE (A) THE OWNERS SHALL SUBSCRIBE TO AND USE ELECTRONIC (PAPERLESS) TRADING SYSTEMS AS DIRECTED BY THE CHARTERERS, PROVIDED SUCH SYSTEMS ARE APPROVED BY THE INTERNATIONAL GROUP OF...
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