The New York Produce Exchange Form (NYPE) is the most widely used standard time charter party in the dry cargo sector of the industry. The revised NYPE was launched on 15 October 2015, the first revision since 1993. This revised form is the first international shipping form that is a collective effort spanning the globe involving the owner and copyright holder, the Association of Ship Brokers and Agents (USA) Inc. (ASBA), BIMCO and the Singapore Maritime Foundation (SMF) over three years.
The Singapore Maritime Foundation (SMF) is pleased to have hosted the Singapore leg of the NYPE 2015 Seminar Series, which brought different perspectives on the use of the form.
The seminar on 22 April was the third in a global roadshow to introduce the newly published NYPE 2015 time charter party. Members of the NYPE 2015 drafting team gave their views on the key clauses and explained the benefits to users of adopting the new contract. The audience asked the panel questions and voiced their opinions about the new NYPE.
The speakers for this seminar were:
Mr Paul Hirtle, LB Chartering LLC
Mr Grant Hunter, Chief Officer Legal and Contractual Affairs, BIMCO
Mr John Freydag, Managing Director, Container & Bulk Chartering, Bernhard Schulte GmbH & Co KG
Mr Andrew Rigden Green, Partner, Stephenson Harwood, Hong Kong
Mr Henry Mytton-Mills, Managing Director, Aries Shipbroking (Asia) Pte Ltd
Mrs Gina Lee-Wan, Partner, Allen & Gledhill LLP
Mr David Chin, Executive Director, Singapore Maritime Foundation
The NYPE Seminar was held in conjunction with the Singapore Maritime Week 2016 (SMW). SMW is the leading maritime event in Singapore driven by the Maritime and Port Authority of Singapore. SMW gathers the international maritime community in Singapore for a week of conferences, dialogues, exhibitions and social events in celebration of all things maritime. These events reflect the vibrancy and diversity of Singapore as a major international maritime centre.