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Force Majeure Clause 2022

10 January 2022

This clause addresses force majeure events occurring under contracts used by the shipping industry that affects the performance of the parties. It is a model clause that should be carefully reviewed by the parties and adapted as required to fit the context of the type of contract it is used in.

Greek shipowners investing the most in newbuilding

03 June 2014

Greek shipowners are not only the most active nation when it comes to sales and purchases, they are also investing the most in newbuilding contracts. Since 2010, contracts made by owners in Greece total USD 51 billion, consistently dwarfing the likes of Norway and China as buyers.

Documentary Committee adopts string of important contracts and clauses

19 October 2023

When BIMCO’s Documentary Committee (DC) met on 11 October in Copenhagen, it approved two new clauses and two revised versions of existing contracts. The new standards are being finalised for publication and will soon be made available for use on SmartCon and on the BIMCO website accompanied by explanatory notes.

COVID 19 - BIMCO supports the industry with contracts and clauses

09 December 2021

The recently imposed new restrictions in several ports will have an impact on the operations of ships. Performing crew changes will very likely become more difficult and result in floating quarantines, meaning that more delays and disruptions in supply chains can be expected. With the new variant creating uncertainty for shipowners, even more complex planning will be needed to avoid financial losses.

Topical contracts and clauses to be reviewed by Documentary Committee next week

11 April 2023

When BIMCO’s Documentary Committee (DC) chaired by Nick Fell, Executive Vice President, Corporate Services and General Counsel at BW Group, meets on 20 April at BIMCO House in Copenhagen, it will be considering two new freestanding clauses for adoption, one contract for approval and a number of ongoing projects for review.

BIMCO expels ShipNEXT from membership

11 July 2018

BIMCO has terminated its agreement with ShipNEXT that allowed the use of BIMCO contracts on its trading platform and expelled the company from its membership after it repeatedly and falsely claimed that BIMCO supported its trading platform.