17 October 2016
The Novation Agreement for Shipbuilding Contracts is an agreement between the parties to novate the shipbuilding contract from the original buyers to the new buyers on terms set out in the agreement.
The latest edition of this contract is the Novation Agreement for Shipbuilding Contracts, issued in 2016.
Copyright in the Novation Agreement for Shipbuilding Contracts is held by BIMCO.
15 June 2017
BIMCO and ISCO have launched two new spill response contracts to make the task of arranging clean-up services following a spill incident significantly easier to negotiate in an emergency.
22 June 2016
BIMCO has today published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.
15 November 2018
BIMCO has revised and updated its two standard ship repair contracts: REPAIRCON, which is for major work at a repair yard; and MINREPCON, which is for minor repair work that can be done by contractors when a ship is in port.
16 May 2019
BIMCO’s Documentary Committee has approved an international standard contract for offshore decommissioning projects to provide a balanced set of terms and conditions to both parties in the process.
19 November 2018
BIMCO will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.
03 May 2018
BIMCO’s Documentary Committee approved a new set of standard bunker terms, developed by a cross-industry group, in New York on 2 May. The BIMCO Bunker Terms 2018 improve on the previous edition with a maximum limit of the parties’ liabilities – a key change that will lead to wider adoption of the contract.
08 December 2017
BIMCO’s Secretary General & CEO, Angus Frew, will extend his contract to the end of 2022. His top priority in 2018 will be environmental legislation. Over the past four years, Frew has been instrumental in modernising BIMCO and in increasing its member-focus.
13 February 2017
BIMCO is working together with the International Spill Control Organization (ISCO) to develop spill response contracts for use when an incident has occurred and a fast response is needed.
05 August 2019
The recent seizures of an Iraqi oil tanker and a UK flagged ship by Iranian authorities have further increased tensions in the Gulf following earlier attacks on tankers in Fujairah and the Gulf of Oman. But what are the contractual implications for ships operating in the area?