Association of Ship Brokers & Agents (U.S.A.), Inc.
510 Sylvan Avenue, Suite 20l, Englewood Cliffs, NJ 07632
TEL: (201) 569-2882 · FAX: (201) 569-9082
Email: · Website: www.asba.org
ASBA
February 2008
Memo to the Chemical and Parcel Tanker Industry
RE: The Release of ASBACHEMVOY
The ASBATANKVOY charter party is the most used tanker charter party in the world. Although this Charter Party was designed for chartering of vessels for full cargoes of oil and petroleum products, it is also widely used in the chemical, vegoil and parcel tanker trade.
ASBATANKVOY contains several clauses that pertain only to the oil trade. When used for chemicals and vegoils, those clauses are often left untouched. They are irrelevant to the chemical trade and most important potentially counter productive to the goal of having a clear agreement. A number of rider clauses relevant to the chemical trade are typically added to the Charter Party.
Following receipt and review of industry comments, The Charter Party and Documentary Committee of the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) is pleased to release ASBACHEMVOY.
The Committee modified ASBATANKVOY leaving intact the clauses relevant to the tanker trade in general and continued use of the same clause numbers as well as the structure of the Charter Party as far as possible. Those clauses are well interpreted through numerous arbitration awards and court rulings in both London and New York and the industry has confidence in them. Clauses relevant only to the oil trade were removed.
Clauses, most commonly used as rider clauses in the chemical and vegoil trade were added. These clauses are uncontroversial and do not tilt the balance of the Charter Party in favor of the Charterer or the Owner. They are simply needed for the performance the voyage.
The success of ASBATANKVOY is based on the fact that it is perceived by industry as balanced in its distribution of rights and obligations between Owners and Charterers. The intention of the committee was to preserve this balance in ASBACHEMVOY and not to interfere with economical aspects, which may be subject to market negotiations.
ASBACHEMVOY is designed to have broad references to statutory rules such as IMO and MARPOL as the specifics of those are changed from time to time. ASBACHEMVOY will not eliminate the need for rider clauses as the requirements of the chemical trade are quite diversified, but it does incorporate the terms that are universally used.
This Release Packet includes an overview of the differences between ASBATANKVOY and ASBACHEMVOY as well as the ASBACHEMVOY Charter Party. The electronic version of ASBACHEMVOY will be available on ASBA’s Charter Party Editor. Visit www.cpeditor.com for more information and email or call if interested in specifics.
ASBA wants to thank our Charter Party and Documentary Committee members that include Nigel J. Hawkins (Chair), Gerard T. Desmond and Soren Wolmar.
Sincerely,
Jeanne L. Cardona
Executive Director
Association of Ship Brokers & Agents (U.S.A.), Inc.