Singapore named arbitrator in time charter party

Singapore

SINGAPORE has solidified its status as one of the world's top maritime arbitration centres by helping in the revision of the most widely used time charter party.

The New York Produce Exchange 2015 time charter party form (NYPE 2015) was issued last October. Representatives from the key bodies behind NYPE 2015 attended to enquiries from maritime players at a seminar held in conjunction with Singapore Maritime Week 2016. They expressed confidence that the document, which incorporated input from industry players worldwide, will gain traction in fixing charters in the dry cargo sector.