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An extremely productive 2023 and a big agenda in place for 2024 By Nick Fell, Chairperson of the Documentary Committee
BIMCO expected newbuild activity to pick up, so the recent development is not surprising. It is however not what the industries needs. As the dry bulk -, crude oil - and oil product tanker shipping sectors are all struggling with very low freight rates, it is important that the recent development in contracting activity reflects a short-term trend.
The revision of BIMCO’s top-selling contract, SUPPLYTIME 2005, has now reached a stage where it is appropriate to consult with the wider industry about the changes made to the contract so far.
BIMCO and FONASBA, the worldwide organisation representing shipbrokers and ship agents, have once again joined forces to create and launch a new general agency agreement for port agents, shipowners and ship operators contracting port agency services.
BIMCO’s new standard contract for security escort vessels, SEV-GUARDCON, is now available on SmartCon and the BIMCO website, accompanied by explanatory notes.
BIMCO’s approval body for contracts and clauses will meet online on 23 February. The development of a series of carbon clauses is high on the Committee’s agenda. An Emissions Trading System Allowances (ETSA) Clause for time charters is up for adoption and the Committee will also be asked to review a first draft of a CII Compliance Clause. Both clauses follow hard on the heels of the EEXI Transition Clause published in December last year as part of BIMCO’s prioritised roll-out of carbon-related clauses for the industry.
BIMCO has together with the UN World Food Programme (WFP), updated and modernised the WORLDFOOD voyage charter party used by the UN organisation to transport food to emergency areas around the world. The aim was to create a contract that made WFP’s work easier and faster.
SEV-GUARDCON is a standard contract for security escort vessels (SEVs) that accompany merchant ships in high threat areas such as the Gulf of Guinea . It has been drafted to enable for cross-border transits where an SEV is needed to accompany the owners ’ vessel through the Exclusive Economic Zone (EEZ) or territorial waters of more than one state. The latest edition of this contract is SEV-GUARDCON, issued in 2022. Copyright in SEV-GUARDCON is held by BIMCO.
This eBook includes a sample copy of the SHIPMAN 2009 contract and the related explanatory notes in the latest version.
The new BIMCO Bunker Terms 2018 that were approved by the Documentary Committee last week in New York have now been published. Sample copies of the BIMCO Bunker Terms 2018 together with comprehensive explanatory notes are available from BIMCO’s website. Secure and authenticated Word copies are available from BIMCO’s contract editing systems IDEA and SmartCon.
