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The revision of the SUPPLYTIME 2005 charter party, BIMCO’s specialised offshore support vessel contract, is close to completion.
SUPPLYTIME is a time charter party for offshore support vessels. It operates on a knock for knock liability regime, which means that each party agrees to bear responsibility for and indemnify the other in respect of loss of or damage to their own property, and injury to or death of their own personnel, regardless of fault. The latest edition of this contract is SUPPLYTIME 2017. Copyright in SUPPLYTIME 2017 is held by BIMCO.
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.
BIMCO has established a new subcommittee to develop a Dynamic Positioning (DP) Annex for the SUPPLYTIME 2017. The DP Annex is expected to be the next addition to the library of specialist pro-forma Annexes, which is being developed by BIMCO in collaboration with industry experts. It will provide a framework for the use of DP systems in the offshore and other relevant sectors.
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.
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.
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.
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