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BIMCO’s work on a syndicated term sheet for use in ship financing transactions is now so advanced that it is ready for review by the industry.
Approved by the Documentary Committee of INTERTANKO.
IBIA - The International Bunker Industry Association and BIMCO have signed a Memorandum of Understanding (MoU) to collaborate on some of the monumental challenges and opportunities within the areas of bunker, marine energy and maritime sectors and help facilitate shipping’s decarbonisation efforts.
The subcommittee set up to develop a syndicated version of SHIPTERM, BIMCO’s new standard bilateral term sheet, made good progress at its second meeting on 7-8 September in London.
We are pleased to invite you to join us in Dubai on 16 October for a seminar hosted jointly by BIMCO and Citibank on BIMCO’s new standard term sheet for bilateral ship financing transactions, SHIPTERM.
Version 4.0, Date: April 2023
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.
The SOVCOAL ARIC Terms were developed as additional clauses to the SOVCOAL charter party. The latest edition of these terms are the SOVCOAL ATIC Terms, applicable as from 1 November 1988.