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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.

COVID-19 Extension on crew certificates

05 August 2021

Providing members with the latest information on extensions to crew certificates by various states in the wake of the Coronavirus (COVID-19) outbreak. The page might be updated several times per day, so please check back for the most recent information.

COVID-19 Q&A on BIMCO’s Infectious or Contagious Diseases Clauses

03 June 2021

The outbreak of COVID-19 and its impact on business and society is unprecedented. We are learning day by day how we must adapt to these new circumstances. Ports around the world are handling the situation in different ways and it is difficult to provide a one-size-fits-all contractual solution. What one port in one country of the world is doing, restricting or prohibiting, is not necessarily the same as a port in a neighbouring country does. BIMCO urges the industry to be pragmatic and work together to find solutions. Not every answer will be found in the contract and parties should do their best to communicate openly about the issues they face and identify compromise solutions to find a way through these difficult times. This Q&A is a list of commonly asked questions together with our answers.

COVID-19; Implications on statutory ship certificates, surveys, inspections and audits

22 September 2020

BIMCO has collected statements from a number of flag states, port states and recognised organisations/classification societies (RO) and produced a regulatory analysis concerning COVID-19 and its possible implications on statutory ship certificates, surveys, inspections or audits under relevant International Maritime Organization (IMO) and International Labour Organization (ILO) instruments.