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New GENCON charter party expected in 2021

23 September 2020

The revision of BIMCO’s most widely used voyage charter party – GENCON – is entering its completion phase, as the drafting team will meet during the autumn to process invaluable feedback received by the industry over the summer.

LNG Bunker Operational Clause for Time Charter Parties

07 December 2023

In 2021 BIMCO initiated a project to develop a suite of LNG fuel clauses for time charter parties. The number of LNG fuelled ships in operation is growing steadily and the suite reflects the need to have bespoke clauses in time charters for these ships. The LNG clauses cover matters related to the LNG quality, delivery/redelivery, gas-freeing and cooling down and an operational clause. For dual-fuel ships the clauses are intended to be used together with the existing BIMCO bunker clauses for conventional fuel oils. The current suite of LNG fuel clauses for use in time charter parties also consists of: LNG Fuel Delivery Clause LNG Fuel Gas freeing and Cool down Clause LNG Fuel Quality Clause

ETS – Emission Scheme Freight Clause for Voyage Charter Parties 2023

01 May 2024

This clause is one from a suite of three clauses developed by the subcommittee for the voyage charter party context. The objective was to provide industry stakeholders with the flexibility to choose a procedure suitable for their specific trade and business. You should consider whether this Emission Scheme Freight Clause for Voyage Charter Parties is the one best suited to your specific circumstances or whether the ETS – Emission Scheme Surcharge Clause for Voyage Charter Parties 2023 or the ETS – Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023 would be more appropriate. As the title suggests, this ETS – Emission Scheme Freight Clause for Voyage Charter Parties 2023 deals with all costs arising from the surrender of emission allowances for the voyage by including them into the freight rate. The basis of the clause is that the voyage charterer will be the one effectively paying the owner for the emission allowances required for the voyage. The owners then remain responsible for surrendering the appropriate number of emission allowances in accordance with the applicable Emission Scheme.