14 June 2019
BIMCO has published two clauses that take a balanced approach to termination risk following ship arrest, in response to cases seen in recent years when some dry cargo charterers have tightened procedures to arrest under a charter party.
16 October 2019
BIMCO is merging its sanctions and designated entities charter party clauses, following revisions by a specialist subcommittee, to create a more robust contractual solution for sanctioning.
02 April 2020
BIMCO has developed a large number of standalone clauses to supplement the standard contracts. These clauses address a wide range of topics and can be downloaded free of charge.
31 May 2019
A new standard Cyber Security Clause requiring the parties to implement cyber security procedures and systems to help reduce the risk of an incident, is now available from the BIMCO website.
13 November 2018
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
28 April 2020
The practice of charterers using oil tankers for floating storage is certainly not a new concept. What’s different with the current demand for storage is the huge number of ships being time chartered for floating storage purposes due to the collapse in oil prices, partly as a result of COVID-19. Therefore, BIMCO is receiving enquiries about “floating storage” clauses and questions about what additional wording owners should consider adding to their time charters.
31 March 2020
BIMCO, INTERCARGO and INTERTANKO welcome the ruling by the highest court in the United States on 30 March 2020 concluding that the plain meaning of the safe-berth clause in the Athos I dispute includes an unambiguous warranty of safety.
05 December 2019
BIMCO’s Documentary Committee has agreed to carry out a major overhaul of the Dispute Resolution Clause with the aim to shorten and simplify what has become BIMCO’s longest standard clause.
22 May 2019
BIMCO’s Documentary Committee has agreed a new standard Cyber Security Clause that requires the parties to implement cyber security procedures and systems, to help reduce the risk of an incident and mitigate the consequences should a security breach occur.
21 January 2020
After the killing of General Qassem Soleimani by a US drone in early January 2020, and the following retaliation by Iran, BIMCO is publishing its view of the escalated tension in the Persian Gulf, as well as advice regarding the new sanctions clauses, and encourages owners, operators and charterers to follow the operational and contractual guidance set out in this article.