The BIMCO Ship to Ship Transfer Clause for Time Charter Parties was issued as Special Circular No. 3 in December 2008 (updating the earlier Double Banking Clause) for use in wet and dry trades. The Clause establishes charterers' right to undertake ship to ship cargo operations. All such transfers are at charterers' cost, expense and time and must be undertaken in a safe area, subject to Master's approval. The ICS/OCIMF Guide was drawn up specifically for use in tanker trades but as the BIMCO provision is available for both wet and dry cargoes, the clause sets a "best industry practice" as the benchmark operational standard. The Master has discretion on safety issues and may, as necessary, stop or suspend operations, move the vessel or order the other vessel away. Other provisions address additional insurance and indemnities by charterers against loss or damage.
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