‘Holistic’ contracts needed for shipping efficiency, says BIMCO director

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Historical charter party agreements first put in place a century ago are no longer fit for today’s shipping industry

International shipowners’ association BIMCO is famous for creating a range of charter party agreements that are central to the way the global shipping industry works – but Grant Hunter, BIMCO’s director, standards, innovation and research, told the Coastlink audience that some of the standard bi-party contracts go back 100 years and are not fit for today’s industry.

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