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Mediation Clause 2020

07 October 2020

The Mediation Clause 2020 has been taken directly from BIMCO’s Dispute Resolution Clause (which has been re-drafted to deal only with arbitration and is now called the BIMCO Law and Arbitration Clause 2020). The objective is to provide parties with a free-standing clause that they can choose to incorporate into their contracts during their negotiations as appropriate.

Slew of new contracts and clauses top BIMCO committee’s upcoming meeting

18 September 2020

Projects for standard contracts and clauses covering almost every sector of the shipping industry will be reviewed by BIMCO’s Documentary Committee (DC) when it meets on 21 and 22 September. The gathering of over 70 documentary experts from around the world will take place online for the first time and two new contracts and two clauses are set to be approved for publication.

BIMCO floating storage clause for tankers: what to cover

28 April 2020

The practice of charterers using oil tankers for floating storage is certainly not a new concept. What’s different with the current demand for storage is the huge number of ships being time chartered for floating storage purposes due to the collapse in oil prices, partly as a result of COVID-19. Therefore, BIMCO is receiving enquiries about “floating storage” clauses and questions about what additional wording owners should consider adding to their time charters.