The revision of BIMCO’s industry standard bareboat charter party, BARECON 2001, has been going on for over a year now. The draft has been circulated to more than 20 companies or individuals in the bareboat chartering industry for comments and feedback.
A small group of industry experts have been working on the revision project, which is now nearly complete and BIMCO is inviting anyone interested in reviewing and commenting on the new version to join the consultation process. If you would like to participate, just get in touch with us at firstname.lastname@example.org and we will send you a copy of the updated BARECON.
It is 16 years since the last revision of BARECON and there have been numerous legal and commercial developments that need to be taken in to account. Not least of these is the recent UK Supreme Court’s ruling in The Ocean Victory case in respect of BARECON’s insurance clauses. New features in BARECON include a simple formula for the allocation of ship modification costs as well as new clauses covering contemporary issues such as sanctions and anti-corruption.
The BARECON revision team are from Stena RoRo; Leonhardt & Blumberg; Anglo-Eastern Shipmanagement; Nordisk Defence Club; and Gard P&I Club. The group is led by Mr Ajay Hazari of Anglo Eastern.
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Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples and have kindly permitted BIMCO’s Members to access this information.
The Bunker Alerts are not intended to be an evaluation of overall bunker quality in the port or area concerned, but usually highlight a specific parameter within the fuel which has raised a quality issue.
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