INTERTANKO Commentary on BP VOY 5

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Published Date

October 2016


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INTERTANKO Commentary on BP VOY 5

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This Commentary is a key reference for owners, charterers, brokers, Masters, crew and shore personnel on use of the BP VOY 5 charterparty form, following the full scale review of BP VOY 4. It identifies the additions and differences in BP VOY 5 and provides advice on the practical and legal requirements of the form.

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This Commentary, compiled by INTERTANKO’s Documentary Committee, examines BP VOY 5 clause by clause and provides guidance on the implications as a matter of law of any changes that have been made, particularly where they alter owners’ rights and obligations. It also focuses on some of the more important provisions of BP VOY 5, even where they are unchanged from the previous version. Guidance is also provided on the practical requirements of BP VOY 5 and the suggested changes owners may consider to each clause.

 

The appendices contain the full text of both BP VOY 4 and 5 and INTERTANKO’s previous Commentary on BP VOY 4.

 

1. Condition of Vessel (BP VOY 4 Clause 1)
2. Compliance (BP VOY 4 MAC4/NEW)
3. Ethical Policy and Anti-Corruption (BP VOY 4 MAC2 & 3/NEW)
4. Chartering Questionnaires (BP VOY 4 Clause 2)
5. Loading/Compliance with Voyage Orders (BP VOY 4 Clause 3)
6. Estimated Time of Arrival (BP VOY 4 Clause 4)
7. Cancellation (BP VOY 4 Clause 16)
8. Agency (BP VOY 4 Clause 15)
9. Loading and Discharge Port/Shifting (BP VOY 4 Clause 5)
10. Notice of Readiness (BP VOY 4 Clause 6)
11. Laytime/Demurrage (BP VOY 4 Clauses 7 and 17)
12. Laytime/Demurrage Not to Count (BP VOY 4 Clause 18)
13. Ship to Ship Transfers (BP VOY 4 Clause 8)
14. Loading and Discharge of Cargo (BP VOY 4 Clause 19 Part A)
15. Inert Gas System (BP VOY 4 Clause 12)
16. Closed Cargo Sampling (BP VOY 4 Clause 13)
17. Oily Residues and Ballast Water (BP VOY 4 Clause 14)
18. Crude Oil Washing (BP VOY 4 Clause 19 Part B)
19. Hydrogen Sulphide and Mercaptans (BP VOY 4 Clause 1/SAC4)
20. Cargo Temperature (BP VOY 4 Clauses 24 and 25)
21. Cargo Retention (BP VOY 4 Clause 33)
22. Even Keel (BP VOY 4 Clause 21)
23. Under Keel Clearance (BP VOY 4 MAC12/NEW)
24. Revised Voyage Orders (BP VOY 4 Clause 22)
25. Interim Ports (BP VOY 4 Clause 22)
26. Backloading (BP VOY 4 SAC6)
27. Virtual Arrival (BP VOY 4 SAC24)
28. Freight and Dues (BP VOY 4 Clauses 31 and 34)
29. Vessel/Cargo Inspections/Bunker Surveys (BP VOY 4 Clause 29)
30. Bills of Lading (BP VOY 4 Clause 30)
31. Additional Cargo Operations and Indemnities (BP VOY 4 SAC22/NEW)
32. Liberty (BP VOY 4 Clause 26)
33. Ice (BP VOY 4 Clause 28)
34 War Risks (BP VOY 4 Clause 39)
35. Established Threat of Piracy (BP VOY 4 SAC24/NEW)
36. War Risks Additional Expenditure (BP VOY 4 SAC25/NEW)
37. Quarantine (BP VOY 4 Clause 29)
38. Address Commission (BP VOY 4 Clause 32)
39. Claims Time Bar (BP VOY 4 Clause 20)
40. Certificates of Financial Responsibility (COFRs) (BP VOY 4 Clause 37/MAC7)
41. ITOPF, P&I and Oil Pollution (BP VOY 4 Clauses 44 and 45)
42. TOPIA and STOPIA (BP VOY 4 MAC13 & 14)
43. US Customs Regulations – Coding (BP VOY 4 Clause 36)
44. ISPS, MTSA and CBP (BP VOY 4 MAC1)
45. Drugs and Alcohol Policy (BP VOY 4 Clause 10)
46. Exclusions (BP VOY 4 Clause 38)
47. Both-to-Blame (BP VOY 4 Clause 40)
48. General Average (BP VOY 4 Clause 41)
49. New Jason (BP VOY 4 Clause 42)
50. Clause Paramount (BP VOY 4 Clause 43)
51. Lien (BP VOY 4 Clause 46)
52. Sub-Letting/Assignment (BP VOY 4 Clause 47)
53. Remeasurement (BP VOY 4 MAC18)
54. Administration (BP VOY 4 Clause 48)
55. Communications (NEW)
56. Baltic Routeing (BP VOY 4 SAC3)
57. Magellan Straits (BP VOY 4 SAC2)
58. Turkish Straits (BP VOY 4 SAC1)
59. Carriage of Cargo Additive (NEW)
60. Confidentiality (BP VOY 4 MAC15/NEW)
61. Law and Jurisdiction (BP VOY 4 Clause 49)

 

Appendix 1. INTERTANKO Suggested Amendments to BP VOY 5
Appendix 2. INTERTANKO Guide for Masters and Operators on Practical Aspects of BP VOY 5
Appendix 3. INTERTANKO Suggested Additional Clauses for BP VOY 5
Appendix 4. BP VOY 5 Charterparty Form
Appendix 5. BP VOY 4 Charterparty Form
Appendix 6. Extracts BP VOY 4 Standard Amendments and Additional Clauses
Appendix 7. INTERTANKO Commentary on BP VOY 4 (Extract from ‘A Guide to Tanker Charters’ – INTERTANKO 2001)

The development of this Commentary was in response to a demand by INTERTANKO Members for INTERTANKO to assist them in familiarising themselves with the revised rights and obligations, and in evaluating the risks presented under the new BP VOY 5 charterparty form launched by BP in March 2016. Designed to provide a review of the new form (the first full scale revision by BP since the introduction of BP VOY 4 in 1998), the Commentary provides an insight into its individual Clauses and is intended as a practical tool to support chartering practice.

 

The publication is the work of INTERTANKO’s Documentary Committee under the guidance of INTERTANKO’s General Counsel. INTERTANKO’s Documentary Committee members are drawn from INTERTANKO’s Members and Associate Members ranging from owners, charterers, brokers, lawyers, P&I Club executives and academics. Their broad experience and insight into legal and chartering matters, and familiarity with BP VOY 4, has enabled INTERTANKO to produce a guide that brings together both practical and legal solutions for Members who seek to charter on this new form.

 

INTERTANKO’s Documentary Committee hopes that this Commentary will become a ready reference for owners, charterers, brokers, masters, crew, shore personnel and others throughout the negotiation process, voyage and post-fixture discussion.

INTERTANKO (the International Association of Independent Tanker Owners) is a trade association that has served as the voice for independent tanker owners since 1970, representing the interests of its Members at national, regional and international levels.

The organisation champions an industry dedicated to support global energy networks by delivering safe, efficient and environmentally sound transport services.

INTERTANKO actively works on a wide range of operational, technical, legal and commercial issues affecting tanker owners and operators around the world. It draws on regular and direct contact with its Members and other industry stakeholders to develop and disseminate information and best practice, essential to the tanker industry.

https://www.intertanko.com/About-Us/

Title: INTERTANKO Commentary on BP VOY 5
Number of Pages: 218
Product Code: WS1529K
Published Date: October 2016
Binding Format: Paperback
Book Height: 300 mm
Book Width: 210 mm
Book Spine: 10 mm
Weight: 1.00 kg
Author: INTERTANKO

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