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IMO Legal Committee agrees unified interpretation on limitation of liability

10 August 2021

At its meeting held from 26 to 30 July 2021, the Legal Committee (LEG) of the International Maritime Organization (IMO) agreed on a unified interpretation of the test for breaking a shipowner’s right to limit liability under certain IMO conventions. The committee also considered several other issues relating to the abandonment of seafarers, to Maritime Autonomous Surface Ships (MASS) and to the committee’s future work programme.

Sustainability and women in shipping highlighted at IOPC meeting

13 November 2019

At the most recent International Oil Pollution Compensation (IOPC) Funds meeting in London, Ban Ki-moon, former United Nations Secretary-General, spoke to representatives, IMO staff and the Funds’ Secretariat about the value of shipping to international trade, climate change and encouraging and empowering women to play a greater role in shipping.

BARECON 2017

13 December 2017

BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance. The latest edition of this contract is BARECON 2017

SUPPLYTIME 2017

20 September 2016

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.

ASVTIME

29 January 2021

ASVTIME is a time charter party for accommodation support vessels (ASVs) engaged in the offshore oil and gas and renewables sectors. The charter party is based on SUPPLYTIME 2017 and 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. ASVTIME incorporates several features from WINDTIME, including a contractual limitation of liability. Tailormade provisions have been introduced catering for the specificities of the ASV sector, such as provisions dealing with optional equipment, parallel operations and offshore bunkering of crew transfer vessels. The latest edition of this contract is ASVTIME, issued in 2021.  Copyright in ASVTIME is held by BIMCO.

WINDTIME

20 September 2016

WINDTIME is a standard time charter party for the transfer of wind farm personnel and equipment to and from offshore wind farm installations. The latest edition of this contract is WINDTIME, issued in 2013. Copyright in WINDTIME is held by BIMCO.

LAYUPMAN

20 September 2016

LAYUPMAN is a standard contract for the laying up of ships. The owners appoint the managers to carry out the services in relation to the laying up of the ship as agents for and on behalf of the owners. The latest edition of this contract is LAYUPMAN, issued in 2011. Copyright in LAYUPMAN is held by BIMCO.