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BIMCO's documentary work – offshore project underway

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Offshore wind farm at sunrise/sunset

BIMCO's documentary work – offshore project underway

Published: 23 August 2023

Offshore installation contracts are vital for the successful execution of offshore projects, including the transportation and installation of offshore wind farms and other marine structures. These contracts often involve multiple stakeholders, such as various contractors, subcontractors, developers, suppliers, vessel providers and clients. The complexity and high-value nature of such projects mean that clear contractual arrangements must be in place to manage risk and to ensure smooth operations.

In line with our commitment to assist the shipping industry, including the offshore and renewable sector, by developing standard contracts and clauses relevant for the green transition, we are about to embark on a new project related to offshore work.

Apart from our existing suite of offshore contracts including SUPPLYTIME with its various annexes, HEAVYLIFTVOY, HEAVYCON, TOWCON, TOWHIRE and others, the aim of this new project is to provide the industry with a comprehensive framework for contracting parties involved in offshore installation work which ensures a standard developed for this particular industry to ensure clarity, balance and efficiency.

We are going to set up a new BIMCO subcommittee comprising of industry experts following a series of initial industry consultations in the coming weeks. This collaborative effort aims to delve into the current requirements and anticipate future dynamics, ensuring the formulation of an insightful and forward-looking offshore installation contract. This standard offshore installation contract is set to address key issues and challenges faced from commencement to completion of offshore installation projects.

Separately, we have been updating our existing offshore agreements including adding a series of “special task” annexes to SUPPLYTIME 2017. A subcommittee is currently working on developing an Annex dedicated to addressing the unique characteristics of DP operations. This underscores our dedication to advancing offshore industry standards.

By employing collaborative strategies, anticipating industry trends and maintaining contracts, we at BIMCO are dedicated to fostering the growth of the offshore sector, with a focus on improving efficiency, transparency and sustainability within the industry.
Zehra Göknaz Engin

CONTACT BIMCO

Zehra Göknaz Engin

Project Manager, Contracts & Clauses

Copenhagen, Denmark

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