Charterers' Bulletin, August 2017

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The Standard Club has a long history of providing cover to some of the largest charterers in the world as well as to smaller traders and operators, including members supplementing their owned fleet with chartered vessels. This bulletin is a collection of articles of interest to those charterers.

Club cover for charterers The opening article uses example incidents, outlining the potential exposure to a charterer and how The Standard Club cover would respond. Read more here.	Market update: dry bulk rates Will the Baltic Dry Index rebound or further decline? What issues do P&I clubs and their members need to consider in the event that the slowdown continues? This article considers some of the issues. Read more on page 3 here.
Setting up a limitation fund using a club LOU – The Hansa Brandenburg The club has recently successfully assisted a member to set up a limitation fund in the High Court of Singapore using a club letter of undertaking. Read more on page 5 here.
NAABSA clauses and safe ports The Standard Club’s damage to hull policy is offered as an extension to the charterers’ liability cover. This article reviews ways in which the charterer’s damage to hull cover can respond. Read more on page 7 here.	Ad valorem bills and references to letters of credit in bills of lading: a practical guide The club has recently received a number of queries from members in respect of the potential impact a reference to a letter of credit (L/C) in a bill of lading might have on their liability towards a cargo interest and on their club cover. This article explores the issue and offers some practical tips for carriers and charterers. Read more on page 9 here.
Demystifying DTH cover Charterer’s liability for damage to hull (DTH) cover responds to a charterer’s liability to a shipowner for physical damage to the vessel during the period of charter due to responsibilities that have been assumed under the charterparty. Both time and slot charterers can benefit from this cover. Read more on page 12 here.	Cyber security risks for charterers Cyber security has been a growing concern for the shipping industry in recent years. As the use of technology on board ships increases, so does the risk of cybercrime. This article focuses on the effect of cybercrime on charterparties. Read more on page 13 here.
Mumbai seminar As part of the club’s ongoing commitment to the Indian market, on 4 May 2017, The Standard Club held a seminar for its members at The Taj Mahal Palace Hotel in Mumbai. Read more on page 15 here.