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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.
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.
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 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.
BIMCO, the world’s largest shipping association, has moved a step closer to finishing a global set of guidelines needed to protect the marine environment from invasive species and reduce CO2 emissions. Currently, there is no common global standard for cleaning ships’ hulls to avoid transferring invasive aquatic species, nor for the potentially damaging debris washed off in the process.
