BIMCO has published a new charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to use under regulations for the Safety of Life at Sea (SOLAS).
The practice of charterers using oil tankers for floating storage is certainly not a new concept. What’s different with the current demand for storage is the huge number of ships being time chartered for floating storage purposes due to the collapse in oil prices, partly as a result of COVID-19. The... Please follow the link to continue reading.
See the outcomes and decisions from the BIMCO Documentary Committee meeting May 2022
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 ind... Please follow the link to continue reading.
BIMCO has started work on standard arrest clauses for use in charter parties.
BIMCO's advice about compliance with CII
INTERTANKO Terminal Conditions of Use Clause (a) For the purposes of this clause, ‘Conditions of Use’ (COU) shall mean any agreement, terms or document that the Owner, or the Master on behalf of the Owner, is required to sign or otherwise accept in order for the Vessel to call, access or otherwise m... Please follow the link to continue reading.
BIMCO’s Ice Information for the northern hemisphere is now live for this season. Reports will be published weekly, or twice weekly if ice conditions become harsher.
With sanctions imposed on Russian interests by the EU, UK, US and others, it is crucial that shipowners and operators check their counterparts and contracts immediately. The situation is currently changing rapidly, and more sanctions announcements could be on the way.
BIMCO has published a new edition of SUPPLYTIME, its widely used time charter party for offshore support vessels.
