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Make sure your contract is genuine with new Authenticity Clause

BIMCO has published a Contract Authenticity Clause to encourage parties issuing contracts based on a BIMCO form to agree to use one obtained from an authorised source such as SmartCon.

BIMCO points to Nick Fell as next Documentary Committee chair

BIMCO’s Board of Directors has pointed to Nick Fell, Executive Vice President Corporate Services & General Counsel at BW Group in Singapore, to take up the role as chairperson of BIMCO’s Documentary Committee in summer 2021.   

BIMCO adds Hong Kong to new shortened arbitration clause

The addition of Hong Kong as the fourth named arbitration option has prompted BIMCO to overhaul its law and arbitration clause. The new edition was approved for publication at the recent meeting of BIMCO’s Documentary Committee and is available to download from our website.

Optimisation and GHG reduction are key in new BIMCO Just in Time Arrival Clause

Successfully implementing a Just In Time (JIT) arrival scheme is dependent not only on an efficient operational framework but also on important contractual considerations. Therefore, BIMCO has formed a small group of experts to help draft a new Just In Time Clause which will focus on these contractual issues.

Q&A interview on SHIPLEASE, BIMCO’s new standard term sheet for ship sale and leaseback deals

BIMCO has enhanced its ship finance term sheet suite by introducing SHIPLEASE, an industry first standard for ship sale and leaseback. SHIPLEASE is an indicative term sheet for use in both operating and finance leases. It has been developed mainly for second-hand ships but can be adapted to fit newbuildings.

BIMCO points to Nick Fell as next Documentary Committee chair

BIMCO’s Board of Directors has pointed to Nick Fell, Executive Vice President Corporate Services & General Counsel at BW Group in Singapore, to take up the role as chairperson of BIMCO’s Documentary Committee in summer 2021.   

Industry survey shows switch to low-sulphur fuel has not been without problems

The maritime industry’s transition to the sulphur regulation from the International Maritime Organization (IMO) which came into force on 1 January 2020 has not been without problems. Since fuel oil properties are fluctuating, it is expected that quality and safety problems will continue to be a challenge for the global shipping industry.

Just-In-Time Arrival Guide issued to support more efficient shipping

A new guide developed by the Global Industry Alliance (GIA) to support low carbon shipping has been launched with the aim to provide both port and shipping sectors with practical guidance on how to facilitate Just-In-Time Arrivals (JIT).

New IMO greenhouse gas study is an important tool for policy decisions

The International Maritime Organization (IMO) has published its 4th Greenhouse Gas (GHG) study, and BIMCO finds the results very encouraging, as data confirms the industry can reach the 50% lower IMO emissions target in 2050.

BIMCO to push for international guidelines for ship/shore communication at IMO

Standardising and harmonising electronic ship/shore communication for reporting purposes is high on the agenda at the International Maritime Organization’s (IMO) virtual Facilitation Committee (FAL) meeting next week (FAL 44).

BIMCO and ICS prepare for new Seafarer Workforce Report

With the future of crewing high on the agenda, BIMCO and ICS are preparing for the launch of the latest Seafarer Workforce Report (previously known as the Manpower Report), the industry standard resource for ship operators, agencies and governments seeking the market intelligence they need to develop crewing and training strategies fit for the future. 

BIMCO shares information on OCIMF’s new temporary remote inspection regime

The Oil Companies International Marine Forum (OCIMF) has announced a temporary measure - a remote inspection regime - as an additional tool within its Ship Inspection Report (SIRE) programme.  This temporary measure has been developed to prevent the spread of COVID-19 between an inspector and ships’ crew.

BIMCO, Safety at sea webinar: Fortifying defences to meet IMO 2021 deadline

BIMCO and  Safety at Sea will be hosting an engaging and informative webinar on 11 August that will include the results of their Maritime Cyber Security survey to inform briefings and discussions among maritime experts.

Ships increasingly risk legal actions in Malacca and Singapore region

The waters in and around the Straits of Malacca and Singapore can pose various risks to ships, one of which is conducting activities outside designated areas, if the ship is not simply transiting continuously and expeditiously.

United States - CTPAT Sea Carrier Security Profile guidance

United States Customs & Border Protection has informed that the Customs Trade Partnerships Against Terrorism (CTPAT) Portal’s new security profile for Sea Carries which came on line June 1, 2020, does not fully reflect the associated minimum security criteria (MSC).

China opens up 10 ports for foreign crew change and implements a circuit-breaker mechanism

China eases crew change restrictions by opening up 10 ports and introducing a circuit-breaker mechanism.

Brown Marmorated Stink Bug - September season starts with 2020-21 measures in place

For the new season beginning September 2020, New Zealand and Australia have introduced the measures to combat increasing spread of  Brown Marmorated Stink Bug (BMST) coming from targeted "BMST" countries which have now risen to 37 countries with the inclusion of Kazakhstan, Moldova, Portugal and Ukraine.

Singapore revises crew change requirements and establishes a Crew Facilitation Centre

To facilitate crew changes in a safe manner and against COVID-19 risks, Singapore revises crew change requirements and sets up Crew Facilitation centre  from 1st September 2020.

Understanding liquefaction and the associated risks

BIMCO attended a very useful webinar on understanding liquefaction risks associated with the carriage of Group A cargoes in the International Maritime Solid Bulk Cargoes (IMSBC) Code. Members are encouraged to view this webinar for a better understanding of the problems that can occur with Group A cargoes.

IBC and MARPOL Annex II changes require preparations ahead of 1 January 2021

Amendments to the International Code for the Construction and Equipment of Ships Carrying Dangerous Chemicals in Bulk (IBC Code) and International Convention for the Prevention of Pollution From Ships, 1973 as modified by the Protocol of 1978 (MARPOL) Annex II - Carriage of noxious liquid substances in bulk, will impact all stakeholders in the chemical and Vegetable oils trade. As the amendments enter into force on 1 January 2021, It is recommended that ships replace existing certificates as soon as possible, to make sure the vessels are operational come 1 January.

BIMCO reports on new developments affecting the IMSBC Code - Bauxite Cargoes

BIMCO started reporting from 30 September 2020,  a series of articles, informing members of what to expect in the revised International Maritime Solid Bulk Cargoes (IMSBC) Code ( Amendment 05-19), which wlll come into force on 1 January 2021. This is the 2nd article of the series. Today, BIMCO reports on the changes made to the " Bauxite" cargoes in the IMSBC Code.

Long-term freight rates to the US jump USD 550 in a day

After a period with short-term container freight rates reaching record highs on many of the major container shipping trades, long-term rates are now also experiencing a boost. Particularly long-term freight rates between the Far East and the US have jumped, copying the development in short-term contracts which have seen the increase in freight rates to the US (both coasts) outpacing the rise in spot rates to Europe.

Stalling Chinese coal imports are not due to trade tensions

Although many of China’s major bulk imports, such as iron ore and crude oil, have seen strong growth so far this year despite the COVID-19 pandemic, imports of coal have followed the opposite trajectory.

US-China trade war reinforces change in Asia's manufacturing landscape

The peak season for containerised exports from Asia to the US is now underway with the COVID-19 pandemic and astoundingly high freight rates making it easy to forget the trade war which has now entered its third year.

BIMCO Shipping KPI statement concerning ships’ emission monitoring

The mandatory Energy Efficiency Design Index (EEDI) for new ships and the Ship Energy Efficiency  Management Plan (SEEMP) for all ships are effective regulations for CO2 emissions and provide, in BIMCO’s view, tangible contributions to the global efforts to combat climate change.

New BIMCO Shipping KPI version offers improved benchmarking concept

BIMCO is launching Version 4 of its Shipping KPI system to provide users with improved and more accurate ways of benchmarking their ships and fleets. The new version of the Shipping KPI will feature fundamental changes to the processing of information and include an improved user interface.

New BIMCO Shipping KPI version to improve user interface and benchmarking

The BIMCO Shipping KPI version 4 is expected to be released before the end of September with the aim to provide registered KPI users with improved measures to perform more accurate benchmarking. The new version of the Shipping KPI will feature fundamental changes to the processing of information and include an improved user interface

Associations call for accelerating digitalisation of maritime trade and logistics

The Covid-19 crisis has painfully demonstrated the heterogeneous landscape that currently exists across ports worldwide. With the world’s attention now focused on exiting from lockdowns and preparing for a ‘new normal’, there is an urgent need to co-operate and accelerate the pace of digitalisation, according to a number of leading maritime associations, including BIMCO.

BIMCO encourages uniform ship-port data exchange in IMO submission

BIMCO, flag administrations and port associations have submitted a proposal to the IMO Facilitation Committee to develop IMO guidelines that provide global industry standards for data and data sharing, with the aim to enhance communication and thereby efficiency during port calls.

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.