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Asian Gypsy Moth Clause for Time Charter Parties 2015

17 October 2016

BIMCO has developed a generic Asian Gypsy Moth Clause for Time Charter Parties that provides a commercial solution focussing on the basic obligations and responsibilities of the owners and the charterers. This clause was published on 22 January 2015. ** ASIAN GYPSY MOTH IS NOW KNOWN AS FLIGHTED SPONGY MOTH COMPLEX ** ** SEE THE UPDATED FLIGHTED SPONGY MOTH COMPLEX CLAUSE ** Not all countries have introduced the new name yet, but BIMCO has decided to standardise on Flighted Spongy Moth Complex, abbreviated to FSMC.

ETS - Emission Trading Scheme Allowances Clause for Time Charter Parties 2022

05 April 2024

The purpose of the clause is to allocate costs and responsibilities for obtaining, transferring, and surrendering greenhouse gas emissions allowances for ships operating under an emissions scheme, such as the EU Emissions Trading System (ETS). The basis of the clause is that the party providing and paying for the fuel under the time charter is the party that is responsible for providing and paying for emissions trading allowances. The owners must monitor the ship’s emissions and provide the relevant emissions data and the basis of calculations to the charterers. Using this information, the charterers transfer the appropriate allowances to the owners monthly. The clause addresses the adjustment of allowances due to offhire events and what happens if the charterers fail to transfer allowances when due.

Charter Party Guarantee

21 February 2024

The Charter Party Guarantee is a time charterers’ guarantee for all sums payable and liabilities under a time charter party. The latest edition of this contract is the Charter Party Guarantee 2022 . Copyright in the Charter Party Guarantee for Charterers’ Guarantee of Sums Payable and Liabilities under a Time Charter Party is held by BIMCO.