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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.
BIMCO has issued two new standard contracts of affreightment (COA) for dry bulk cargoes – one that can be used with different voyage charter parties and another that includes all terms and provisions usually found in a COA.
The Documentary Committee, under the chairmanship of Mr Francis Sarre, met in Copenhagen on 17 November in Copenhagen for its regular autumn meeting. Following two years’ intensive work involving owners, lawyers and financial institutions, a new Standard Term Sheet for Bilateral Financing was adopted.
Today - Monday 19 February 2024 – marks the three-month anniversary since the Houthis seized the Galaxy Leader and its 25 seafarers in the Red Sea. The vessel, a roll-on/roll-off vehicle carrier, was seized on the 19 November. The maritime industry has joined together from around the world to express their concern for the seafarers who have been held hostage, and call on the Houthis to release the crew of the Galaxy Leader.
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.
GENCON is a standard voyage charter party. It is a general purpose agreement for the services of a ship in exchange for freight and can be used in a variety of trades. It is accompanied by its own bill of lading, CONGENBILL 2022. The latest edition of this contract is GENCON 2022. Copyright in GENCON 2022 is held by BIMCO.
BIMCO has published a climate change glossary to clarify and harmonise definitions and terminology to ensure that the discussions around climate change and potential solutions for the shipping industry are based on a mutual understanding of what the commonly used terms mean.
The Covid-19 crisis has painfully demonstrated the heterogeneous landscape that currently exists across ports worldwide. With the world’s attention now focused on exiting from lockdowns and preparing for a ‘new normal’, there is an urgent need to co-operate and accelerate the pace of digitalisation, according to a number of leading maritime associations, including BIMCO.
