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The revision of the SUPPLYTIME 2005 charter party, BIMCO’s specialised offshore support vessel contract, is close to completion.
A selected consultation group from the offshore industry including owners, charterers, brokers, insurers, P&I clubs and legal experts, have recently contributed with feedback on the revised SUPPLYTIME form. This process has helped the drafting team in reviewing and “polishing” the current draft during a two day meeting at BIMCO House in November.
BIMCO has further expanded its library of Special Task Annexes for SUPPLYTIME 2017 with the addition of a new annexes for crane operations (surface and subsea) and accommodation of charterers’ personnel.
Users of BIMCO’s WINDTIME, SUPPLYTIME 2017 and ASVTIME charter parties should be aware of new guidance relating to possible inclusion or exclusion of General Average and New Jason Clauses.
BIMCO achieves a significant milestone with the release of the Dynamic Positioning (DP) Annex for SUPPLYTIME 2017, underscoring its commitment to advancing contractual standards in the shipping industry. The newly published Annex establishes a standardised framework for the use, maintenance, and operations of DP systems in the offshore sector, providing clarity and guidance for industry stakeholders adding to the suite of Special Tasks Annexes already published.
BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance. The latest edition of this contract is BARECON 2017
The spring meeting of the Documentary Committee, chaired by Francis Sarre, was held in Rome on 6 June. The sixty-strong committee discussed an extensive and diverse range of documentary projects and approved for publication three new contracts and one clause.
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