Below we explore some of the key changes to the NYPE.
Whilst the NYPE has avoided the "box style" format of many other BIMCO contracts, the addition of the standard form annexure does hold some semblance of this style.
The NYPE places a direct obligation on owners to provide and maintain such COFR.
The NYPE 2015 permits the charterer to order the vessel to "slow steam," a practice which has become a popular fuel saving method, as detailed further in Clause 38.
The NYPE 2015 provides significantly extended and detailed provisions relating to bunkers.
Perhaps the most striking amendment to the NYPE is the owner's clear right to claim damages following withdrawal after unpaid hire.
The modernised NYPE 2015 has sought to address a plethora of other contemporary issues, with references to the prevailing international bodies and their respective legal instruments.
their own account." NYPE 93, supra note 16, [section] 26.
(48.) See BIMCO's Gastime, supra note 15, [section] 4; NYPE
The big difference between taking office space in MetroTech versus Manhattan, agree Nype and Daly, is not only the amount of money companies spend per square foot, but what they're getting for their money: efficient, high-tech space in a campus-like setting at cost-effective prices.
Can we look at saving money by moving outside to an outerborough location?' What that's done for us in a down marketplace is given us a helluva lot of opportunities that might not have been there during the 1980s when deal after deal after deal was happening, and everybody was managing for growth, not for a plateau of business growth and inefficiency," says Nype.
As corporations and their employees are forced to hunker down during the '90s, Nype predicts that a natural outgrowth of that process will most likely be more intense facility management, and, ultimately, an increase in relocations out of Manhattan: In an effort to minimize costs and square footage occupied in Manhattan, many companies will start to consider relocating certain business operations - front-, mid-, and back- office operations alike - to the outerboroughs.