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Contracts & clauses
December 2021
BIMCO publishes EEXI Transition Clause ahead of IMO efficiency regulation
New regulation from the International Maritime Organization (IMO), which will require existing ships to reduce carbon emissions, is due to enter into force in just under one year. As compliance will benefit to a large extent from co-operation between shipowners and charterers, BIMCO has developed a new clause to address the changes.
October 2021
New gas charter party hits the mark in busy market environment
ASBAGASVOY, the new voyage charter party for gas tankers developed jointly by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) has seen a rapid uptake after its release to the market in September 2020. Christian Hoppe, BIMCO’s General Counsel, has talked to BW LPG, Petredec and Clarksons about why ASGABASVOY was their preferred choice of charter party in a recent LPG fixture.
July 2021
New BIMCO clause clarifies contractual position on AIS switch-off
BIMCO has published a new charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to use under regulations for the Safety of Life at Sea (SOLAS).
New Check Before Fixing 2021 book available
You wouldn't navigate a ship without a chart, so why sign a contract without advice? Avoid unnecessary costs you couldn’t have foreseen.
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
The experiences of operating during the Covid-19 pandemic and the challenges this has created have prompted a review of the BIMCO Infectious or Contagious Diseases Clauses (the "IOCD Clauses”).
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
Consultation process points to simple and short ASBATANKVOY form
The drafting committee that will carry out the first revision of the ASBATANKVOY form in 44 years has kicked off the major task to improve and update the widely used tanker charter party form.
June 2021
BIMCO publishes new standalone Refund Guarantee for Shipbuilding Contracts
A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committee has adopted a clearly worded standalone refund guarantee that will assist parties in their shipbuilding projects.
New electronic signature clause supports increasing digitalisation in shipping
BIMCO’s Documentary Committee has adopted a standard electronic signature clause that allows parties to safely use electronic signatures in their contractual arrangements.
BIMCO sets sights on a global electronic bill of lading standard
BIMCO is to develop an electronic bill of lading standard for the dry and liquid bulk sectors as a key component of a global initiative to accelerate trade digitalisation.
