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BIMCO’s approval body for contracts and clauses gathered on 23 February to discuss a highly topical agenda. Two contracts of affreightment and a contract for conversion work on ships were adopted. Split views on whether adopting the ETSA Clause was premature postponed the adoption of this clause.
BIMCO’s Documentary Committee (DC) will have a busy agenda when they meet on 5 December. The DC will consider for approval new sanctions clauses for time and voyage charter parties. They will also review progress on a new edition of GENCON and be asked to provide feedback on other projects ranging from a sale and leaseback term sheet to an accommodation support vessel charter party.
There is a new version of BIMCO SmartCon and it combines the fast, simple and easy approach from the online version, together with the track changes and comments from Word. The editor is online and you don't need to install anything, the only requirement is that you have the latest version of a modern browser like Google Chrome and Microsoft Edge.
As a result of a rising number of shipments of industrial raw materials such as bauxite, coal and iron ore being transported under COAs, BIMCO is working on a new standard form of contract of affreightment (COA).