BIMCO publishes the Russian Oil Price Cap Scheme Clause 2023

The clause provides a standardised framework for charterers and owners to agree on and include in their charter parties. It addresses compliance with the regulation of Russian oil and petroleum products following the EU/G7 measures, which implemented an oil price cap on specific oil products originating from or exported by Russia. BIMCO has developed a comprehensive and adaptable clause that caters to the needs of various industry stakeholders, promoting responsible shipping practices and ensuring compliance with the evolving regulatory landscape.

Council_Implementing_Regulation_(EU) 2021/706 of 29 April 2021

A trade war is harmful to us all and clearly bad for global shipping

Free trade provides prosperity and peace. It’s a fundamental principle to cherish and safeguard. All trade-restrictive measures are in principle bad for shipping. Right now, the international atmosphere is full of threats of retaliation and it appears likely that major trading partners with the US like the EU and China will hit back to draw a line in the sand for the US Administration and President Trump.

Iceland, Thingeyri - Crew Issues

Stinne Taiger Ivø appointed Deputy Secretary General at BIMCO

BIMCO’s Director of Contracts & Support, Stinne Taiger Ivø, has been appointed Deputy Secretary General at BIMCO from 1 January 2024.

BIMCO's Holiday Calendar 2024

BIMCO’s Holiday Calendar covers general holidays in over 150 countries plus local holidays and working hours in more than 680 ports around the world.

Russian Oil Price Cap Scheme Clause 2023

The latest edition of this clause is the Russian Oil Price Cap Scheme Clause 2024 with an additional attestation for ancillary costs breakdowns. International sanctions regimes are constantly changing with new restrictions being added and new requirements coming into force. As a result of the implementation by the EU/G7 of a price cap on certain oil products originating in or exported from Russia, BIMCO has developed a clause in order to enable the parties to a charter party or similar contract to manage the legal and practical risks arising in connection with the Price Cap Scheme. The clause aims to establish a set of rights and obligations applicable to those parties, covering compliance with the attestation and price information requirements under the Price Cap Scheme, and create a mechanism for dealing with situations where there is non-compliance with those requirements while keeping in mind the commercial aspects of oil trades. *The scope of the clause is specifically limited to the oil products as "cargo" carried onboard and does not include bunkers.

Avoid Life Boat Accidents

The ‘Avoid Lifeboat Accidents’ pamphlet gives clear guidance on how to prevent accidents with lifeboats and rescue boats equipped with on-load release systems.

Ship Management Contracts

The handy guide contains explanatory notes to all of BIMCO’s current standard ship management contracts.

Webinar on Advancing Single Window Development

BIMCO's Jeppe Skovbakke Juhl, Manager, Maritime Safety & Security, will be speaking on the latest trends for Maritime Single Window development