The Assembly of the Comité Maritime International (CMI) at its 42nd International Conference held in New York from the 3rd until the 6th of May 2016 adopted the revised York-Antwerp Rules (YAR) 2016 on General Average. Prior to YAR 2016, CMI had adopted YAR 2004 which were considered less favourable to shipowners. For a number of reasons, the YAR 2004 were not incorporated into BIMCO’s standard forms of contract and so have remained largely redundant. The YAR 1994 have so far remained the most prominent.

 

In 2012 the CMI International Working Group on General Average undertook a complete re-appraisal of YAR which finally resulted in the adoption of the new revision of the YAR 2016. The YAR 2016 largely reflect the YAR 1994,  while containing some useful clarifications and additions such as on low value cargoes. Importantly, it has been agreed that an annual interest rate of LIBOR plus 4 percentage points applies according to the new rules, while the commission of 2 per cent on owners' disbursements has been abolished.

 

BIMCO’s Documentary Committee, who met in Copenhagen on the 10th of May 2016, have agreed that all new and revised BIMCO charter parties and bills of lading will now refer to general average being adjusted in accordance with the new York-Antwerp Rules (YAR) 2016.

 

Under the doctrine of general average sacrifices and expenses arising from a marine casualty are apportioned between the ship, cargo and others interested in a common maritime adventure according to their contributory values at the termination of the voyage. The YAR is a set of 7 lettered and 23 numbered rules by which GA is adjusted. The earliest version of the YAR was introduced in 1860 in an attempt to harmonise the widely differing practices of average adjusters across the world and since then 9 new versions have been introduced. For at least 70 years the CMI has been the custodian of the YAR. The YAR are not an international convention and generally apply only when incorporated into contracts for the carriage of goods by sea which are usually on standard forms, most often approved by the shipowners' industry body, BIMCO.