Upcoming Contracts and Clauses
This project aims to develop a standard clause for the use of biofuels under time charter parties. It will address key issues such as definitions, blending, sampling, storage, as well as owners’ and charterers’ responsibilities and liabilities. Operational elements like speed and consumption warranties, off-hire, and compliance with regulations such as FuelEU Maritime will also be covered.
The subcommittee, comprising owners, charterers, bunker suppliers and P&I clubs, held its first meeting in April 2025.
Expected publication date: 2025
This project aims to develop a time charter party tailored for seaborne carriage of carbon dioxide (CO2). While it is possible to employ existing charter parties for such contractual agreements, the unique and challenging conditions and potential liabilities associated with CO2 carriage and storage warrant the development of a dedicated charter party contract specifically addressing the needs of shipowners and charterers involved in transport of CO2.
Expected publication date: 2026
This project aims to develop a dedicated clause addressing emissions trading schemes under bareboat charter parties. The subcommittee, comprising owners, leasing companies, and a P&I Club, began work in February 2025.
Expected publication date: 2025
This project aims to develop clauses for Memoranda of Agreement (MOAs) in line with the EU Emissions Trading System (ETS) and FuelEU Maritime regulations. With these new regulatory frameworks introduced by the European Union, there is a need for updated MOA clauses to ensure that buyers have certainty regarding the seller's compliance with these obligations.
A subcommittee has been established to undertake this work, which will begin in May 2025.
Expected publication date: 2025.
This project aims to revise BIMCO’s standard contract for the transportation of heavy and voluminous cargoes. The existing HEAVYLIFTVOY subcommittee is expected to take on the revision of HEAVYCON following the completion of the HEAVYLIFTVOY project, anticipated in 2025.
Expected publication date: 2026
A revision of HEAVYLIFTVOY, BIMCO’s standard voyage charter party for the mid-sized heavy lift sector carrying specialist cargo published in 2009, commenced in Q3 2024.
Expected publication date: 2025
These terms will be produced as an additional Annex to complement the existing BIMCO Bunker Terms 2018, also considering whether a clause addressing the use of dual fuel as an interim solution in the transition towards alternative fuels.
Expected publication date: 2025
This project aims to review and update the existing contract RECYCLECON based on the 2009 Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships entering into force on 26 June 2025 following the ratification of the convention by Liberia and Bangladesh.
Expected publication date: 2025
This project aims to develop a “Retrofitting Cost/Benefit Clause” for the maritime industry, focusing on enhancing energy efficiency, reducing environmental impact, and improving overall vessel performance. The clause is intended to contain a cost-benefit sharing scheme, aiming to incentivise both owners and charterers to invest in retrofit projects.
Expected publication date: 2026
This project involves revising SALEFORM, the Norwegian Shipbrokers’ Association’s internationally recognised memorandum of agreement for the sale and purchase of ships, by NSA and BIMCO in consultation with the industry.
Expected publication date: 2025
This project focuses on updating BIMCO’s Standard Agreement for the Supervision of Vessel Construction (SUPERMAN), which defines the roles and responsibilities of ship managers acting on behalf of owners during newbuilding projects.
Upon completion of this revision, the subcommittee is expected to move on to updating LAYUPMAN, thereby completing the review of BIMCO’s suite of standard ship management agreements.
Expected publication date: 2025
WINDSEACON is a BIMCO initiative to create a standard time charter party for the transport and installation of wind turbines in offshore wind farms. The project aims to address the unique challenges and needs of the offshore wind industry, which is growing rapidly as a result of the global demand for more renewable sources of energy and the need for decarbonisation.
Expected publication date: 2025
Following the publication of WRECKSTAGE 2024, the revision of the other standard contracts in the suite of BIMCO wreck removal agreements, WRECKHIRE 2010 and WRECKFIXED 2010, commenced in Q3 2024.
Expected publication date: 2025