New charterparty clause promoting the use of the ICA (5.562)

London P&I has updated the recommended charterparty clause for NYPE and Asbatime charterparties to reflect a recent arbitration finding and to ensure the Inter-Club New York Produce Exchange Agreement 1996, as amended in 2011, is applied as intended.

The revised wording is designed to support the swift and fair apportionment of cargo claims between owners and charterers, and to make clear that the ICA's security requirement is also incorporated.