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BARGEHIRE 2008

19 September 2016

BARGEHIRE is a bareboat charter party specifically designed for unmanned, non-self-propelled seagoing barges. It is a lease agreement whereby the charterer obtains possession and full control of the barge along with the legal and financial responsibility for it. The charterer generally pays for operating expenses such as maintenance and repairs but, unlike bareboat chartered ships, barges are often chartered with owner’s insurances made available to the charterer. Copyright in BARGEHIRE 2008 is held by BIMCO.

ASBAGASVOY

28 September 2020

ASBAGASVOY is a charter party for the gas tanker trade jointly authored by BIMCO and ASBA. It is based on, and follows the sequence of, ASBATANKVOY which for many years has been used for gas tanker fixtures, but introduces gas specific terminology. ASBAGASVOY replaces ASBATANKVOY clauses which pertain to the traditional product tanker trades. The charter party has been developed for both refrigerated and pressurised liquefied gasses such as LPG and petrochemicals. Copyright in ASBAGASVOY is held by ASBA.

BIMCO to publish standard refund guarantee to eliminate legal uncertainty

16 September 2020

BIMCO is developing a standard refund guarantee for shipbuilding contracts, including the SAJ and Chinese forms. The current issue is that English law and jurisprudence on guarantees is contradictory, complex and often very difficult to understand from a commercial perspective, and as a result small changes made by negotiators can have wide reaching commercial consequences.