Web alert: Intertanko amends model piracy clauses to take account of Gulf of Guinea risks
22 January 2014
Intertanko recently announced that it has amended its model piracy clauses to take into account security issues specific to the Gulf of Guinea.
The new amendments seek to address the risk owners may face when a vessel is standing-by outside a port before being allocated a place to discharge or load cargo.
Under the new amendments, which apply to time and voyage charterparties, owners are entitled to choose an appropriate and safe waiting location either inside or outside any port or other place before commencing loading or discharging operations. The newly amended clauses would likely assist if, for example, the usual anchorage is unsafe due to a risk of piracy.
For the purposes of laytime, Intertanko states that if an owner chooses to wait outside the port (or other suitable location) under the newly amended clauses, any notice of readiness would be given from that place at the relevant time. Intertanko’s intention is that demurrage would run from the same point.
Intertanko considers that the remainder of its existing model piracy clauses are sufficiently robust to cover other piracy issues relating to the Gulf of Guinea (including the provision of additional insurances), therefore the main bulk of its model piracy clauses for time and voyage charterparties remain unchanged.
Members are invited to contact the club for more information.