The presentation clause is paramount when concluding business in the gas spot market as it describes how the gas tanker must present at the load port. The ASBAGASVOY drafting committee set up by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) has developed tailormade presentation clauses for use with the new gas tanker charter party.
Building on the success of its widely used GUARDCON contract for the employment of security guards on ships, BIMCO is to develop a new standard contract for hiring the services of security escort vessels (SEV).
BIMCO is working on a charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to carry under SOLAS.
BIMCO has extended its library of offshore industry standard contracts with the adoption of ASVTIME – a time charter party for accommodation support vessels. Updates of BIMCO’s ocean towage agreements – TOWCON and TOWHIRE – have also been adopted along with a new edition of its charter party for hiring unmanned barges – BARGEHIRE.
A new time charter sanctions clause specifically designed for the container shipping sector has been published by BIMCO. The BIMCO Sanctions Clause for Container Vessel Time Charter Parties 2021 is part of an initiative to create a library of sanctions clauses that reflect the individual needs and characteristics of different trades and operations.
World trade has to flow - we get that. Charterers have contractual obligations under short term spot charters that sometimes leave little room for delays - we get that too. Owners are responsible for managing and relieving their crews - that's not in doubt either. But what we don't accept is that a minority of charterers may simply be looking the other way when they are presented with a ship that also happens to be in need of a crew change. We don't expect charterers to foot the bill and we recognise that hiring ships is a matter of commercial negotiation - but we see no reason why charterers and owners should not have an open and honest dialogue to try to find a solution for much needed crew changes.
The drafting team set up by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) to develop the recently published gas tanker charter party ASBAGASVOY has drafted a document containing additional clauses for possible use with the new charter.
A first draft of the BIMCO Force Majeure Clause will be presented for review at the BIMCO Documentary Committee meeting 25-26 January 2021.
In January 2021, BIMCO will be inviting the industry to view and offer feedback on the new Ship Sale Agreement in the pipeline. The new form is on track for publication in 2021.
BIMCO has published SHIPLEASE, a new standard term sheet for sale and leaseback transactions which will be presented at a series of free seminars in the coming months. We will start with two online seminars and, as soon as the situation allows, live networking seminars will be planned in Asia, Europe and USA.