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SHIPLEASE

23 September 2020

SHIPLEASE is a standardised term sheet intended for use in ship sale and leaseback transactions. The term sheet has been principally developed for sale and leaseback transactions involving second-hand ships, but it can be readily adapted to fit structures involving newbuildings or vessels that are undergoing major refit. It is suitable for use for both operating and finance leases, although it may need to be adjusted as appropriate. The latest edition of this contract is SHIPLEASE, issued in 2020.

SUPPLYTIME 2017

20 September 2016

SUPPLYTIME is a time charter party for offshore support vessels. It 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. The latest edition of this contract is SUPPLYTIME 2017. Copyright in SUPPLYTIME 2017 is held by BIMCO.

Laytime Definitions for Charter Parties 2013

20 September 2016

The Laytime Definitions for Charter Parties have been developed to provide practitioners with a set of meanings of commonly used words and phrases. The objective is to help reduce disputes about party intentions in a market where fixtures are often concluded on the basis of a recap message and listed amendments, without the exchange or return of draft contracts. These provisions have been developed for incorporation into charter parties. The latest edition of these definitions is the Laytime Definitions for Charter Parties 2013.

NAVEXCON

20 September 2016

The Standard Naval Exercise Contract, NAVEXCON, was developed for the short-term charter of merchant ships to participate in military navigational exercises. In order to properly train military personnel in navigation techniques and to familiarise them with the handling of modern merchant tonnage, regular training exercises are conducted by many navies. This type of training is also useful for familiarising merchant navy personnel with the sort of pilotage techniques likely to be encountered in time of conflict. The latest edition of this contract is NAVEXCON, issued in 1996.

Novation Agreement for the Substitution of Time Charterers

17 October 2016

The Novation Agreement for the Substitution of Time Charterers is an agreement between the parties to novate the time charter party from the original charterers to the new charterers on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for the Substitution of Time Charterers, issued in 2016. Copyright in the Novation Agreement for the Substitution of Time Charterers is held by BIMCO.

RECYCLECON

20 September 2016

RECYCLECON is a standard contract for the sale of ships for recycling in a safe and environmentally sound manner. The contract incorporates many of the requirements of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (the Hong Kong Convention) such as the Inventory of Hazardous Materials and the Ship Recycling Plan. The latest edition of this contract is RECYCLECON, issued in 2012. Copyright in RECYCLECON is held by BIMCO.

PROJECTCON

20 September 2016

PROJECTCON is a special projects charter party for the tug and barge sector. It was designed to remove the need to use up to three different contracts for the same project when operating a tug and semi-submersible barge in combination to transport of special or projects cargoes. Instead of having one contract for the hire of the barge, another for the hire of the tug, and a third for the transportation, PROJECTCON may be used as a single contractual platform. The latest edition of this contract is PROJECTCON, issued in 2006. Copyright in PROJECTCON is held by BIMCO.

POOLCON B

20 September 2016

POOLCON B is designed for use by tramp pools operating in the dry and liquid bulk trades under contracts of affreightment, spot or time charters to third parties. It governs the relationship between owners entering their ships into the pool and the pool managers and regulates administrative and procedural matters covering pool operations together with the allocation of respective party liabilities and obligations. As an agency agreement, there is no time charter relationship between participants and pool managers. The latest edition of this contract is POOLCON B, issued in 2014. Copyright in POOLCON B is held by BIMCO.