ASBATANKVOY, one of the most widely used tanker charter parties in the world, will form the basis when BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) begin to jointly develop a charter party specifically for use in the gas tanker trade.
BIMCO’s Documentary Committee has agreed a new standard Cyber Security Clause that requires the parties to implement cyber security procedures and systems, to help reduce the risk of an incident and mitigate the consequences should a security breach occur.
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’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.
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.
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 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.
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.
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.
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.