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.
Documentary Committee Chairman Francis Sarre of CMB has, after six years in the driver’s seat, passed over the reins of BIMCO’s contracts and clauses approval body to Nick Fell of BW Group. Fell takes over as Chairman at a time when the industry needs strong contractual solutions, not least due to the COVID-19 pandemic.
BIMCO’s documentary experts have begun preparing charter party clauses to assist owners and charterers comply with complex new carbon regulations due to come into force in 2023.
BIMCO has published a charter party clause promoting the use of the IMO’s data model framework. The publication is an extension of BIMCO’s strategic objective to encourage greater efficiency and harmonisation in the ship-shore interface.
Although the container ship “Ever Given” was fortunately freed after less than a week blocking the Suez Canal, the consequences for owners and operators due to the delays caused may last for several weeks or even months.
Refund guarantees are complex legal documents and must meet the requirements of the issuing banks. BIMCO has, in close co-operation with legal and commercial experts, banks and shipyards, been working to develop a standard refund guarantee which can be used for shipbuilding contracts, such as SAJ.
In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.
The latest editions of TOWCON, TOWHIRE and BARGEHIRE are now available on SmartCon.
ASVTIME, the new time charter party for accommodation support vessels, was recently adopted by BIMCO’s Documentary Committee and is now available for use in SmartCon.
This year, BIMCO has expanded its ice reporting to cover the Northern Chinese, Japanese and Greenland sea areas, and can advise on contractual issues related to ice clauses.