Upcoming Contracts and Clauses
Overview
Using feedback and experience from members and the industry, BIMCO keeps all its clauses and contracts under review. Currently, we are working on the following updates or new projects.
Upcoming Contracts and Clauses
| CLAUSE OR CONTRACT | DETAILS | EXPECTED PUBLICATION DATE |
| Emissions Trading Scheme Allowance Clause(s) | The European Union has approved draft legislation to include emissions from ships in the EU Emissions Trading System (ETS) from 1 January 2023. Although the legislation is not finalised, one of our top priorities is to develop clauses allocating the responsibility of purchasing and surrendering emission allowances. Other countries may introduce similar emissions trading systems and so we are taking a generic approach by creating clauses that facilitate compliance with not just the EU ETS, but other similar systems. |
January 2022 |
| SHIPSALE 22 Ship Sale Agreement |
SHIPSALE 22 is a new standard contract for the sale and purchase of ships. It takes a fresh and innovative approach with an easy-to-follow structure which includes BIMCO's well-known box layout summarising the agreement's key information. |
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| GENCON 2022 | GENCON 94 is the industry’s most used voyage charter party for bulk trade. It is currently being updated to reflect changes in industry practice and legal developments. Among the key changes is the introduction of a new Clause 2 – the Owners’ Responsibility Clause. Overall, the new GENCON will be more comprehensive and detailed than the current edition and require fewer amendments and rider clauses | February 2022 |
| ASBATANKVOY | The ASBATANKVOY charter party is widely used in the tanker trade but has not been updated since 1977. BIMCO is working together with the Association of Shipbrokers and Agents (ASBA) in New York to refresh and modernise this popular form. | November 2022 |
| LNG Bunker Terms | To reflect the increasing use of and interest in alternative fuels by the industry, BIMCO is developing a LNG bunker purchase contract. The LNG Terms are modelled on BIMCO’s Bunker Terms 2018 for conventional fuel which are now widely accepted in the bunker sector. | H2 2022 |
| Ship Conversion Contract | The conversion contract is primarily intended to be used for larger ships. The liability regime will depend on the parties’ insurance arrangements and the contractors are responsible for the ship and property until redelivery. | 2022 |
| AUTOSHIPMAN | AUTOSHIPMAN will be the first ship management contract for autonomous ships. It is modelled on BIMCO’s SHIPMAN agreement. It is being developed in parallel with the revision of BIMCO’s suite of ship management agreements (SHIPMAN, CREWMAN A and CREWMAN B, SUPERMAN and LAYUPMAN). | 2023 |
| GENCOA 2022 | This is the revision of GENCOA 2004 – BIMCO’s standard contract of affreightment. Two independent forms are being developed. GENCOA A is a frame contract designed to work with the terms of any attached voyage charter party. GENCOA B is a contract of affreightment which contains a set of voyage charter party terms. Both forms will contain the relevant provisions users need for performing such a contract. An advanced draft of the contract is currently being reviewed by stakeholders as part of an industry consultation process. | February 2022 |
| Charter Party Guarantee | BIMCO’s Charter Party Guarantee caters for situations where the owners wish to have a second guarantor in addition to the charterers. The wording of the revised guarantee currently under development has been clarified considering recent case law. It places the nature of the guarantee as a “see to it” guarantee beyond any doubt. | 2022 |
| Wreck Removal Agreements | Revision of the suite of BIMCO’s wreck removal agreements, WRECKSTAGE 2010, WRECKHIRE 2010 and WRECKFIXED 2010 is well underway. The main objective is to introduce an optional clause applying quantitative risk assessment (QRA) methods. | 2022 |
| Security Escort Vessel Contract SEV-GUARDCON | New standard contract designed for owners and operators to hire escort vessels to accompany ships in high-risk piracy areas. It is modelled on the widely-used GUARDCON contract and retains the same minimum insurance cover requirements. An advanced draft of the contract is currently being reviewed by stakeholders as part of an industry consultation process. | December 2021 |
| SHIPMAN | CREWMAN | LAYUPMAN | SUPERMAN | Revision of this suite of third-party management agreements | Work due to begin in 2022 |
| Force Majeure Clause | The new BIMCO Force Majeure Clause will be a standalone clause designed for incorporation into different types of contracts. As such it may need to be amended to reflect individual operations and trades. It is modelled on the ICC force majeure clause. | November 2021 |
| BIMCO Mediation/Alternative Dispute Resolution Clause 2021 | The BIMCO Mediation/Alternative Dispute Resolution Clause 2021 will provide for alternative dispute resolution options to give the parties the tools to find an amicable solution in case of a dispute. This will avoid costly litigation and potential damage to commercial relationships. The clause can be used for different types of alternative dispute resolution including mediation before or after legal proceedings have been commenced. It must be used together with the existing BIMCO Law and Arbitration Clause 2020. | 2022 |
| Infectious or Contagious Diseases Clause for Time and Voyage Charter Parties (IOCD clauses) | The existing IOCD clauses (Time Charter, Voyage Charter) were drafted back in 2015 during the Ebola epidemic. Experience during COVID-19 has shown that the clauses are not ideally suited to a pandemic. The updated clauses will address both pandemics and epidemics and reflect industry practice in dealing with such situations. They will address both the human element to protect the crew against an infection and the commercial element of delays to the ships. | November 2021 |
| LNG Bunker Clauses for Time Charter Parties | The BIMCO LNG Bunker Clauses for Time Charter Parties will complement BIMCO’s existing suite of bunker-related time charter clauses. They are designed for LNG and dual-fuelled ships. The clauses are modelled on the existing suite of bunker clauses but amended where needed to reflect the special type of fuel. Bespoke clauses for the use of LNG fuel such as the BIMCO LNG Bunker Gas-freeing and Cool-down Clause have been developed. | 2022 |
| CII/EEXI Clauses | BIMCO’s top priority is to develop contractual solutions to enable parties to comply with MARPOL’s EEXI and CII regulations which come into force on 1 January 2023. One clause will deal with the transition towards EEXI compliance and how modifications to ships are managed. Other clauses for time charter parties will focus on the more challenging aspect of complying with Carbon Intensity regulations and the ongoing obligation to improve a ship’s efficiency and reduce emissions on an annual basis. | November 2021 |
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