Piracy Clause for Time Charter Parties 2009
17 April 2024The latest edition of this clause is the Piracy Clause for Time Charter Parties 2013 .
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Arrest Clause for Voyage Charter Parties 2019
07 December 2023Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two new standard clauses for time and voyage charter parties. Risk allocation is based on the “sphere of responsibilities” approach taken by the Court of Appeal of England and Wales in the "Global Santosh" judgment . Under this approach, a distinction is drawn between issues such as the management of the ship and its crew, which fall within the owners’ sphere of responsibility, and employment for use of the ship which falls within the charterers’ sphere of responsibility. This clause was published on 14 June 2019.
Arrest Clause for Time Charter Parties 2019
07 December 2023Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two new standard clauses for time and voyage charter parties. Risk allocation is based on the “sphere of responsibilities” approach taken by the Court of Appeal of England and Wales in the "Global Santosh" judgment . Under this approach, a distinction is drawn between issues such as the management of the ship and its crew, which fall within the owners’ sphere of responsibility, and employment for use of the ship which falls within the charterers’ sphere of responsibility. This clause was published on 14 June 2019.
New ASV charter party to include cap on liability
22 May 2020The time charter party for accommodation support vessels (ASVs) currently being developed by BIMCO will include a limitation of the owners’ and charterers’ liability for loss, damage, delay or expense. This is the result of an online meeting of the subcommittee held on 18 May.
BIMCO initiates work on new ASV charter for the offshore sectors
26 March 2019BIMCO has initiated work to develop a standard charter party for Accommodation Support Vessels (ASVs) to provide the industry with a balanced standard document that can be used in the offshore sectors.
BIMCO and ASBA join forces to develop gas tanker voyage charter party
27 May 2019ASBATANKVOY, one of the most widely used tanker charter parties in the world, will form the basis when BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) begin to jointly develop a charter party specifically for use in the gas tanker trade.
New GENCON charter party expected in 2021
23 September 2020The revision of BIMCO’s most widely used voyage charter party – GENCON – is entering its completion phase, as the drafting team will meet during the autumn to process invaluable feedback received by the industry over the summer.
Offshore accommodation charter party ready for first review
30 October 2019A first draft of a new time charter party for Accommodation Support Vessels (ASVs) will be presented to the Documentary Committee for review and feedback in December.
CII Operations Clause for Time Charter Parties 2022
13 May 2024New regulations on the carbon intensity of international shipping will come into force on 1 January 2023. The complex CII regulations are expected to significantly impact the future operation of ships. Shipowners and charterers must embrace new ways of cooperation, and new clauses for charter parties will be needed to help owners and charterers succeed.
Bunker Non-Lien Clause for Time Charter Parties 2014
07 December 2023The objective of the Bunker Non-Lien Clause is to provide a pre-emptive mechanism to protect owners by requiring time charterers to inform their counterparty, the seller, at the outset that bunkers ordered are being supplied for their account and that no lien can be placed over the vessel.
