ExxonMobilvoy 2012 form of charter party

Members should be aware that under clause 27(a)(i) of ExxonMobilvoy 2012 charter, unless the bill of lading is issued at a place where the Hague Rules, Hague-Visby Rules, or the Hamburg Rules have been enacted, the Rotterdam Rules are the “default” contractual regime for cargo liabilities between the owner and the charterer.  

Until the Rotterdam Rules are in effect, this clause, in certain circumstances, could result in a member assuming by contract a liability greater than that provided for in Hague, Hague-Visby, or Hamburg.  Members should review their trading patterns and consult with their brokers and underwriter at the club to determine whether additional cover is advisable to fill any gaps caused by agreeing to the ExxonMobilvoy 2012 form.