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Time chartering is a complex business. The shipowners give the time charterers substantial control over the commercial operation of the vessel in exchange for the regular payment of hire.
California State Lands Commission - Information about the implementation of biofouling management requirements and a reminder about existing reporting requirements.
The first revision of the New York Produce Exchange Time Charter (NYPE) since 1993 now published
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.
The Just in Time Arrival Clause 2021 is for use in voyage charter parties where owners and charterers have agreed to operate a just in time arrival scheme that permits charterers to ask owners to optimise the speed of the ship to arrive at a destination at an agreed time. The clause takes a generic approach so that it can also form part of different vessel and port management schemes around the world. It may also be used together with the BIMCO Port Call Data Exchange Clause 2021 which has been designed to encourage wider application and use of the IMO data model framework for the harmonised exchange of ship/port information.
Exciting news! BIMCO Shipping KPI version 3.0 - activated
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.
BIMCO has developed a standard mandate for use when the parties to a ship management contract agree to give a mandate to an organisation or person to comply with obligations under the European Union Emission Trading System (ETS). The standard has been developed as an independent, supporting document to the freestanding ETS – SHIPMAN Emission Trading Scheme Allowances Clause 2023 and SHIPMAN 2024 .
BIMCO’s Documentary Committee approved a new set of standard bunker terms, developed by a cross-industry group, in New York on 2 May. The BIMCO Bunker Terms 2018 improve on the previous edition with a maximum limit of the parties’ liabilities – a key change that will lead to wider adoption of the contract.
The industry’s first ever standard ship conversion contract, CONVERSIONCON, complements BIMCO’s other ship repair and construction contracts. It is available for use on BIMCO SmartCon today.
