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BIMCO adopts new tug, barge and “floating hotel” contracts

27 January 2021

BIMCO has extended its library of offshore industry standard contracts with the adoption of ASVTIME – a time charter party for accommodation support vessels. Updates of BIMCO’s ocean towage agreements – TOWCON and TOWHIRE – have also been adopted along with a new edition of its charter party for hiring unmanned barges – BARGEHIRE.

ASV specific features tackled in new charter party

28 April 2020

The subcommittee developing a standard time charter party for accommodation support vessels (ASVs), at an online meeting on 23 April, continued discussions on key areas of the new contract, including offshore bunkering and how to address the concept of immediate tasks in an ASV specific context.

ASVTIME moves closer to completion

02 April 2020

At online meetings on 31 March and 1 April, the subcommittee working on the standard time charter party for accommodation support vessels (ASVTIME) reviewed feedback from industry stakeholders and further developed the draft contract.

SmartCon information and available contracts

31 May 2021

SmartCon is the next generation of contract editing tools developed using the latest technology from Microsoft. We’ve built the editing features inside Word versions of our contracts to provide a seamless integration with the workflows of shipping professionals.

ASVTIME

29 January 2021

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 indemnify the other in respect of loss of or damage to their own property, and injury to or death of their own personnel, regardless of fault. ASVTIME incorporates several features from WINDTIME, including a contractual limitation of liability. Tailormade provisions have been introduced catering for the specificities of the ASV sector, such as provisions dealing with optional equipment, parallel operations and offshore bunkering of crew transfer vessels. The latest edition of this contract is ASVTIME, issued in 2021.  Copyright in ASVTIME is held by BIMCO.

BARGEHIRE 2021

24 February 2021

This is the latest edition of BARGEHIRE which is a bareboat charter party specifically designed for unmanned, non-self-propelled seagoing barges. It is a lease agreement whereby the charterer obtains possession and full control of the barge along with the legal and financial responsibility for it as further detailed in the BARGEHIRE. The charterer generally pays for operating expenses such as maintenance and repairs but, unlike bareboat chartered ships, barges are often chartered with owner’s Hull & Machinery insurance made available to the charterer. Although not as often, Protection & Indemnity insurance can also be made available to charterers, especially when the duration of the contract is short. Copyright in BARGEHIRE 2021 is held by BIMCO.