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October 2016

Arrest clauses

BIMCO has received comments concerning the arrival of a new breed of clauses seeking to shift risks traditionally falling within the charterers’ sphere onto the owners.

Draft term sheet ready for second round of consultations

BIMCO's ship financing term sheet is now ready for a second round of consultations following a two-day meeting in Copenhagen. 

September 2016

Hire and termination clauses reviewed in BARECON update

BARECON 2001 is being updated to reflect changes in commercial practice and legal development in the 15 years since it was published. At a meeting held at BIMCO House on 29 September the focus of the revision team was the hire and termination provisions.

August 2016

SUPPLYTIME industry consultation launched

The revision of BIMCO’s top-selling contract, SUPPLYTIME 2005, has now reached a stage where it is appropriate to consult with the wider industry about the changes made to the contract so far.

July 2016

Updated HYDROCHARTER heads for adoption

Norsk Hydro and BIMCO are working together to update the HYDROCHARTER voyage charter party.

BIMCO updates New York and Singapore arbitration clause options

A new edition of BIMCO’s Dispute Resolution Clause has been published. New wording has been added to the US law, New York arbitration option to ensure that non-maritime contracts (such as shipbuilding contracts) are not inadvertently excluded from the scope of the clause.

Spill response tackled in new contract

The International Spill Control Organization (ISCO) and BIMCO are working together to develop a standard contract for spill response services. The contract is expected to be published by the end of the year.

June 2016

Latest news on BIMCO's contracts and clauses

Latest news about BIMCO's contracts and clauses: New novation agreements; update on revision of SUPPLYTIME, BARECON and WORLDFOOD charter parties; update on Standard Term Sheet.

BIMCO launches new standard agreements for novation of shipping contracts

BIMCO has today published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.

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