BIMCO Shipping KPI
04 April 2024The BIMCO Shipping KPI is a global shipping industry tool for defining, measuring and reporting information on ship performance.
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The BIMCO Shipping KPI is a global shipping industry tool for defining, measuring and reporting information on ship performance.
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing institutions and private practice lawyers from Asia, Europe and the US began work this week to develop a standard letter of quiet enjoyment (LQE) for use in long term charter and leasing structure financings.
In response to growing concerns over the impact of hull biofouling on the marine environment, BIMCO and a group of industry partners have set out to create an internationally recognised standard.
The Standard Statement of Facts was published in 1975 and is recommended by BIMCO and FONASBA (the Federation of National Associations of Ship Brokers and Agents). The latest edition of this document is the Standard Statement of Facts (short form), issued in 1975.
BIMCO and CIRM (Comité International Radio-Maritime) have taken the concept of the onboard software log to the International Organization for Standardization (ISO) to automate and modernise it. As a result, the ISO has published a new standard on a ship software logging system to be used for operational technology onboard ships.
BIMCO is to develop an electronic bill of lading standard for the dry and liquid bulk sectors as a key component of a global initiative to accelerate trade digitalisation.
Globally, less than 2% of world trade is carried on electronic bills of lading. This is partly due to lack of open standards and interoperability. To help increase adoption of digital trade documents in shipping, BIMCO has published an electronic bill of lading standard.
BIMCO has today published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.
The Standard Escrow Agreement for Disputes is a contract for depositing security for a claim in a dispute. The latest edition of this contract is the Standard Escrow Agreement for Disputes, issued in 2017. Copyright in the Standard Deposit Escrow Agreement for Ship Sale and Purchase is held by BIMCO.
Building on the success of its widely used GUARDCON contract for the employment of security guards on ships, BIMCO is to develop a new standard contract for hiring the services of security escort vessels (SEV).