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What is the purpose of bimco?

BIMCO states that its primary objective is to protect its global membership through the provision of information and advice, while promoting fair business practices and facilitating harmonisation and standardisation of commercial shipping practices and contracts.

Why is BIMCO important?

BIMCO the practical voice of shipping We make it our business to help our members with theirs. BIMCO members cover over 60% of the global fleet and consist of local, global, small, and large companies. We are an organisation and global shipping community of around 2,000 members in more than 130 countries.

Which of the following is the main objective of Baltic International Maritime Council?

Its goal is to unite shipping interests to proactively and rapidly respond to issues that affect its members arising in a fast-changing maritime environment.

What is laytime in shipping?

In commercial shipping, laytime is the amount of time allowed in a voyage charter for the loading and unloading of cargo. Under a voyage charter or time charter, the shipowner is responsible for operating the vessel, and the master and crew are the employees of the shipowner, not the charterer.

How is laytime calculated?

Below stages are required in a laytime calculation: Understanding of relevant clauses in the charter party. Obtain SOF from vessels agent. Determine the duration of laytime allowed. Ascertain time of commencement of laytime. Allow for interruptions to laytime as per the charter party.

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What is BIMCO ship?

BIMCO is the worlds largest international shipping association, with over 1,900 members in more than 130 countries, representing over 60% of the worlds tonnage. Our global membership includes shipowners, operators, managers, brokers and agents. BIMCO is a non-profit organisation.

What is SOF company?

The source of funds (SOF) code provides more detailed analysis of account balances on cost centre/natural account combinations to identify different funding streams, departmental allocations or types of activity.

What is SCO in medical terms?

Senior Care Options (SCO) is a comprehensive health plan that covers all of the services normally paid for through Medicare and MassHealth. This plan provides services to members through a senior care organization and its network of providers.

What is laytime statement?

Laytime Statement - Portion of a time sheet, which details the amount of laytime used by a voyage charterer. LAYTIME:Time allowed by the shipowner to the voyage charterer or bill of lading holder in which to load and/or discharge the cargo. It is expressed as a number of days or hours or as a number of tons per day.

What does SOF stand for UPS?

Statement of Facts (SOF) is a detailed chronological description of the activities of the vessel during the stay in a port: taking the sea pilot onboard, hailing in, locking through (if applicable), mooring, preparing the loading and unloading operations, the actual loading and unloading operations, the amount of load

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