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Sale and leaseback – BIMCO’s next move in ship financing

11 October 2019

In October, an Asian-based subcommittee involving major players within the ship owning and ship leasing communities will begin work to develop a term sheet for sale and leaseback transactions to meet a rise in demand and to complete the suite of three term sheets available for financiers, shipowners and their advisors.

BIMCO ship recycling report confirms need for non-EU yards on EU list

14 October 2022

A report commissioned by BIMCO shows that while the EU list of approved ship recycling facilities continues to grow, new additions have not added significant capacity to meet the demands of the global shipping industry. Therefore, BIMCO believes focus must shift towards adding facilities outside of the EU. The report also shows that the EU audit system works as intended for non-EU recycling facilities.

New BIMCO clause promotes harmonised ship-shore data exchange

16 April 2021

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.

SHIPMAN revision well underway

13 December 2022

BIMCO is revising its popular suite of ship management and related third-party management agreements to reflect current practices in the market. First in line is SHIPMAN 2009, BIMCO’s standard form ship management agreement that may include crew, technical and commercial management as well as insurance arrangements in respect of a ship.

Recorded webinar - Safety in enclosed spaces aboard ships

20 October 2022

Enclosed space incidents have been a major cause of fatalities on board ships. While we are aware of the risks involved in enclosed space to a large extent, there are still some aspects that need our better understanding.

BIMCO encourages uniform ship-port data exchange in IMO submission

17 February 2020

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.

Cargo volumes in Red Sea area drop 21% due to attacks on ships

27 February 2024

During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number of ships arriving in these ports significantly declined as merchant shipping increasingly avoided transiting through the region due to concerns over attacks on ships by the Houthis.

IMO agrees on GMDSS updates to enhance safety for ships

06 May 2022

Modernisation of the Global Maritime Distress and Safety System (GMDSS), which was initiated a decade ago, has finally been completed at the International Maritime Organization (IMO). In the process, changes to satellite service providers have been implemented. Changes have also been made in the definitions of the SOLAS regulations Chapter IV, whereas no changes have been made to the carriage requirements of the ships

US regulations affecting your ships - get the November update!

11 December 2017

This is the latest in a series of reports supplied by the Chamber of Shipping of America (CSA) with the intention of keeping BIMCO members appraised of legislative developments in the US affecting international shipping. BIMCO highlights only the relevant developments that would impact members. The full CSA November report is also provided.