Although the container ship “Ever Given” was fortunately freed after less than a week blocking the Suez Canal, the consequences for owners and operators due to the delays caused may last for several weeks or even months.
Refund guarantees are complex legal documents and must meet the requirements of the issuing banks. BIMCO has, in close co-operation with legal and commercial experts, banks and shipyards, been working to develop a standard refund guarantee which can be used for shipbuilding contracts, such as SAJ.
In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.
The latest editions of TOWCON, TOWHIRE and BARGEHIRE are now available on SmartCon.
ASVTIME, the new time charter party for accommodation support vessels, was recently adopted by BIMCO’s Documentary Committee and is now available for use in SmartCon.
This year, BIMCO has expanded its ice reporting to cover the Northern Chinese, Japanese and Greenland sea areas, and can advise on contractual issues related to ice clauses.
The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure.
In a bid to encourage wider adoption of just in time (JIT) arrival principles in the bulk sector, BIMCO has published a new clause for voyage charter parties to promote more efficient shipping procedures and as a result, help reduce CO2 emissions.
Much of the shipping industry relies on BIMCO standard contracts. The contracts provide a familiar and secure contractual base on which parties can freely negotiate. However, the trust in the standard forms is undermined by fake copies that contain errors or even deliberately hidden changes to the wording. BIMCO wants your help to combat the industry’s often unknowing use of counterfeit copies of BIMCO forms.
BIMCO has taken the decision to revise and update SHIPMAN 2009 and CREWMAN A and B 2009 - the ship management sector's "go to" standard agreements.