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January 2020

Sounding board to take sale and leaseback project to the next phase

BIMCO is setting up a sounding board with the aim to engage a broad group of stakeholders in the process of drafting a sale and leaseback term sheet, as the sale and leaseback market continues to expand.

What is BIMCO thinking about 2020?

Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by. We put all the thoughts in a magazine. This year is no different, and a range of BIMCO people have written their opinions on what the new year will bring.

December 2019

Safe berth warranty to be considered by US Supreme Court

BIMCO, Intertanko and Intercargo have filed an Amicus Curiae brief in a case currently before the US Supreme Court. The case raises key issues for the shipping industry, since the verdict will establish who is responsible for the safety of a visiting ship to a berth.

BIMCO publishes new sanctions clauses to meet geopolitical challenges

BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.   

ASBAGASVOY charter aims to be first choice for gas trade

Feedback from the gas industry on the draft ASBAGASVOY charter party shows that ASBA and BIMCO, who are working together to develop the new contract, are on the right track. The view is supported by BIMCO’s Documentary Committee.

BIMCO to publish new shortened law and arbitration clause

BIMCO’s Documentary Committee has agreed to carry out a major overhaul of the Dispute Resolution Clause with the aim to shorten and simplify what has become BIMCO’s longest standard clause.

Sanctions top busy agenda for BIMCO’s Documentary Committee

BIMCO’s Documentary Committee (DC) will have a busy agenda when they meet on 5 December. The DC will consider for approval new sanctions clauses for time and voyage charter parties. They will also review progress on a new edition of GENCON and be asked to provide feedback on other projects ranging from a sale and leaseback term sheet to an accommodation support vessel charter party.

November 2019

Rise in shipments under short term COA prompts new BIMCO standard form

As a result of a rising number of shipments of industrial raw materials such as bauxite, coal and iron ore being transported under COAs, BIMCO is working on a new standard form of contract of affreightment (COA). 

ASBAGASVOY draft ready for first consultation and review

The standard gas tanker voyage charter party codenamed ASBAGASVOY is ready for a first industry consultation as well as review by the Documentary Committee of BIMCO and the Board of the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA).

BIMCO adds new features to SmartCon - with more coming

BIMCO has added several features to its contract editor since it was launched in 2018, and more will be added by the end of the year and throughout 2020.

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