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The BIMCO Shipping KPI System is a global shipping industry tool for defining, measuring and reporting information on operational performance.
The revision of BIMCO’s industry standard bareboat charter party, BARECON 2001, has been going on for over a year now. The draft has been circulated to more than 20 companies or individuals in the bareboat chartering industry for comments and feedback.
BIMCO continues to hear back from members on the issue of the Indian Service Tax.
A call for the consistent application of the Civil Liability Convention (CLC) and Fund Conventions was made when the governing bodies of the International Oil Pollution Compensation (IOPC) Funds met in London on 24 and 25 April. BIMCO was represented as an observer delegation.
The revision of the SUPPLYTIME 2005 charter party, BIMCO’s specialised offshore support vessel contract, is close to completion.
SHIPTERM is a standardised term sheet intended for use in a bilateral, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a single lender and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM, issued in 2017. Copyright in SHIPTERM is held by BIMCO.
Users of BARECON can expect BIMCO’s standard bareboat charter party to become leaner and more focussed when a new edition is released later this year.
A group of container industry experts met earlier this month to examine whether BIMCO bills of lading may need to be amended due to the new SOLAS container weight verification requirements.
Industry security experts have concluded that maritime crime will not be stopped any time soon – and that cyber incidents would continue to expand in frequency and severity. This was the consensus at BIMCO’s first ever Maritime Security Seminar in Copenhagen yesterday.