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May 2019

Geopolitical shift prompts new sanctions clauses from BIMCO

BIMCO is updating its suite of sanctions clauses to reflect changes in the sanctions’ environment. The new clauses are expected to be launched at the end of 2019.

BIMCO to publish industry’s first offshore decommissioning contract

BIMCO’s Documentary Committee has approved an international standard contract for offshore decommissioning projects to provide a balanced set of terms and conditions to both parties in the process.

April 2019

New terminal conditions clause takes balanced approach

A new, “Terminals Conditions of Use” clause gives owners and operators in the oil, gas, dry bulk and container trades the means to respond to unreasonable terms imposed by terminals as a condition of using their facilities.

March 2019

BIMCO initiates work on new ASV charter for the offshore sectors

BIMCO has initiated work to develop a standard charter party for Accommodation Support Vessels (ASVs) to provide the industry with a balanced standard document that can be used in the offshore sectors.

BIMCO panel turns spotlight on arbitration challenges and possibilities

BIMCO has hosted a panel session on arbitration in Shanghai to discuss current issues such as the future of arbitration centres, the impact of BREXIT, the impact from the emergence of China as a leading shipping nation and much more.

February 2019

BIMCO issues new Shipmanagers’ Letter of Undertaking

A new “Shipmanagers’ Letter of Undertaking” (LoU) is now available on the BIMCO website, together with Explanatory Notes. The LoU sets out shipmanagers’ obligations to lenders financing owners’ purchase of a managed vessel.

December 2018

BIMCO publishes two 2020 sulphur clauses

BIMCO has published two sulphur content related bunker clauses which are now available on the BIMCO website and on SmartCon, BIMCO’s contract editing solution.

GENCON update will include new owners’ responsibility clause

BIMCO’s Documentary Committee has discussed and approved a proposal to re-write GENCON’s Clause 2, which deals with owners’ liabilities. It is part of a major overhaul of the industry’s most widely used standard voyage charter party.

November 2018

BIMCO aims to publish cyber security clause in spring 2019

BIMCO is developing a clause dealing with cyber security risks and incidents that might affect the ability of one of the parties to perform their contractual obligations.

Eyes on Asia as BIMCO develops new gas contracts

BIMCO will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.

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