SHIPTERM B for syndicated loans, will soon join BIMCO’s bilateral ship finance term sheet as part of the organisations’ venture into standard ship financing documents.
The shipping finance document is now close to completion following a two-day meeting of sixteen finance and legal experts in Oslo.
The drafting group, which published a standard bilateral term sheet, SHIPTERM A, in 2016, reviewed a large number of comments and suggestions received from an industry consultation process that ended in January. Much of the feedback from stakeholders confirmed that the draft syndicated loan term sheet was in line with industry expectations. A number of useful suggestions to improve the term sheet were applied to the draft.
Over the next two months the document will be checked and prepared for publication. BIMCO’s Documentary Committee will review the syndicated loan term sheet at their meeting in New York at the beginning of May and will be asked to adopt it.
If approved for publication, SHIPTERM B will be published along with explanatory notes in May.
Access BIMCO's COVID-19 related articles and advice.
Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples and have kindly permitted BIMCO’s Members to access this information.
The Bunker Alerts are not intended to be an evaluation of overall bunker quality in the port or area concerned, but usually highlight a specific parameter within the fuel which has raised a quality issue.
For general guidance and information on cargo-related queries.
Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.