BIMCO rules

As adopted at the General Meeting in May 2023

Sanctions Clause for Container Vessel Time Charter Parties 2021

The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.

War Cancellation Clause 2004

NATO Shipping Centre is ready to assist shipping with information and advice

The NATO Shipping Centre maintains a 24/7/365 oversight of security developments in the Euro-Atlantic area, the Mediterranean Sea, and the Black Sea. Shipowners are reminded of the Voluntary Reporting Scheme for the Mediterranean Sea.

24 Feb Ukraine situation – contractual implications

This short guide highlights some of the key issues that may affect the obligations and rights of contracting parties following developments in the Russo-Ukrainian conflict, with a focus on BIMCO clauses. In all circumstances, parties should carefully review their contractual terms for current and future fixtures and, if in any doubt, seek legal advice before acting.

Sanctions Clause for Voyage Charter Parties 2020

The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.

Help set the future direction for the BIMCO ESG Network: Complete our quick survey

There are now more than 55 members in the BIMCO Environmental Social and Governance Network. More are joining as members seek to understand the role ESG will play in their future business. In its initial meetings, the group has identified the need to investigate commonalities in ESG strategies and how you manage the things you can’t (or that might be hard to) measure. In order to get a broader picture of how our members are approaching ESG, we have developed a short survey to gather information.

Publications

Create a contract

SmartCon will be the long-term successor for IDEA. Based on the latest Microsoft technology, it will ensure that we can continue to offer our industry-known contracts for years to come.

BIMCO force majeure clause under way

With an increasing focus on force majeure due to the COVID-19 outbreak, BIMCO has gathered a drafting team to develop a free-standing force majeure clause for use in a variety of contracts.