1.         GENERAL

1.1       Objectives

INTERCARGO and its Members commit themselves to a safe, efficient, high quality and environmentally-friendly dry cargo shipping industry. INTERCARGO considers that free and fair competition in the shipping industry is of fundamental value and this serves as its prime principle. INTERCARGO aims to create strategies to enhance the interests of its Members for the benefit of the dry cargo shipping industry.

1.2       Purpose and Membership

INTERCARGO is a voluntary, non profit making association. Its members, who are engaged directly or indirectly with the dry cargo shipping industry, accept the business principles of free, fair and open competition and are committed to high standards of safety – including crew safety and welfare, quality, and environmental practice in their shipping related activities.

1.3       Activities

INTERCARGO aims to be engaged in activities which:-

1.         Promote the interests of its Members in matters of general policy and strategy pertaining to the dry bulk shipping industry within the scope of its Objectives.

2.         Inform and consult with its Members on dry cargo shipping issues.

3.         Work within a “Work Programme” recommended by its Management Committee and Executive Committee and agreed at the Annual General Meetings and implemented by its Management Committee, on any technical, commercial, operational or similar issue related to the dry cargo shipping industry.

4.         Work for a unified shipping industry view on matters of common interest to the various entities of the international shipping industry.

5.         Cooperate with other international entities in furtherance of the attainment of its Objectives.

6.         Operate under an Anti-Trust and Competition Law Compliance status.

7.         Perform any other activity conducive to the attainment of the above.

1.4       Status of the Association

The status of INTERCARGO is a private company, limited by guarantee.

1.5       Jurisdiction

Unless decided by a majority of at least 60% of Members present at an Annual General Meeting, INTERCARGO will be incorporated as a UK Company and be subject to the laws and requirements of England.

1.6       Office and Registered Office

Unless decided by a majority of at least 60% of Members present at an Annual General Meeting, the Registered Office and Place of Business for INTERCARGO shall be London, United Kingdom.

1.7       Liability

The liability of each Member shall be limited to their annual subscription, plus £1 (one Pound Sterling).