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LNG News
Cheyne & Thomspon (lecturers), “The LNG Industry and Evolution of LNG Charters from Tanker Charters”, FZ Presentation, 27.02.2020
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Miguel Caballero Speaks at VI Jornadas de Seguro Marítimo y Portuario
Caballero (speaker), VI Jornadas de Seguro Marítimo y Portuario, Cartagena de Indias/Colombia, 19-21.02.2020.
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Coronavirus and Force Majeure
It has been widely reported that LNG receivers in China have recently declared force majeure on LNG contracts due to disruptions caused by the 2019 novel coronavirus (2019-nCoV) which has now been given the official name COVID-19 (“novel coronavirus”). This was done after force majeure certificates were issued from the China Council for the Promotion of International Trade (“CCPIT”), with the approval of China’s Ministry of Commerce.
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BIMCO Sanctions Clause 2020
BIMCO rounded off 2019 by releasing an overhaul of the BIMCO Sanctions Clause. Owners previously held the right to ignore charterers’ orders based on owners’ “reasonable judgment”. That right is removed. This will be of some comfort to charterers, who will be pleased to see the back of a subjective test in owners’ favour.