GSF joins forces with BIMCO launching world first Standard Container Contract
The Global Shippers' Forum has joined forces with the Baltic International Maritime Council Organisation to launch the BIMCO/GSF SERVICECON container shipping contract.
Launched at the 2015 Containerisation International Conference in Hamburg today (22 April), the BIMCO/GSF Standard Container Contract is the world's first standardised contract terms and conditions for use in container shipping markets worldwide. The GSF has also provided clause by clause analysis of the terms and conditions and legal guidance on the standard terms and conditions.
The Standard Container Contract is the result of discussions between GSF and BIMCO over a two year period and between shipper and carrier representatives in a joint working group.
GSF Secretary-General, Chris Welsh, said:
"GSF is delighted to have joined forces with BIMCO in creating the world's first Standard Container Contract. Container shipping is characterised by a small number of very large shippers with high shipment demands, many of whom have individualised service contract arrangements, but the majority of small to medium sized shippers whose transportation needs range from relatively modest cargo movements to significant numbers of containers haven't been able to negotiate firm contractual agreements – until now."
The BIMCO/GSF Contract was originally devised to meet the needs of small and medium sized shippers, although GSF believes that it will be useful for many larger shippers too, especially those with cargo shipments outside of the scope of the individualised contracts.