23 September 2020
SHIPLEASE is a standardised term sheet intended for use in ship sale and leaseback transactions. The term sheet has been principally developed for sale and leaseback transactions involving second-hand ships, but it can be readily adapted to fit structures involving newbuildings or vessels that are undergoing major refit. It is suitable for use for both operating and finance leases, although it may need to be adjusted as appropriate. The latest edition of this contract is SHIPLEASE, issued in 2020.
06 August 2020
Over a series of meetings, the drafting committee developing the new BIMCO term sheet for ship sale and leaseback transactions has considered input received from industry experts. The term sheet is now ready to be presented to the Documentary Committee for adoption.
15 June 2020
BIMCO is developing a term sheet for ship sale and leaseback transactions, SHIPLEASE, and is seeking input from industry experts on the new standard.
18 September 2020
Projects for standard contracts and clauses covering almost every sector of the shipping industry will be reviewed by BIMCO’s Documentary Committee (DC) when it meets on 21 and 22 September. The gathering of over 70 documentary experts from around the world will take place online for the first time and two new contracts and two clauses are set to be approved for publication.
21 September 2020
Sale and leaseback transactions have seen a substantial increase in recent years as an alternative method of ship financing, and BIMCO has adopted a new term sheet which will facilitate the negotiation of sale and leaseback deals and make the process cheaper for parties involved.
