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This masterclass covers principles on laytime and demurrage for both dry and wet trades. The course examines, in a practical way, the application of laytime and demurrage in the daily operations. It covers the key legal concepts and a step-by-step approach to effectively use the knowledge to work strategically with laytime calculations to boost profitability.
New 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.
Join the Scandinavian Maritime Conference on 14 May for a presentation by Mads Wacher Kjærgaard , Manager, Standards, Innovation & Research at BIMCO, on "Using AI for leaner, cleaner, and smarter charter parties" .
BIMCO has compiled this glossary to clarify and harmonise definitions and terminology in order 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.
At its meeting in Copenhagen on 16 November, BIMCO’s Documentary Committee adopted a revised version of its standard Charter Party Guarantee. The Charter Party Guarantee 2022 is an up-to-date, clearly worded and comprehensive time charterers’ guarantee for all sums payable and liabilities under a time charter party.
A joint project from BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) to develop a standard gas tanker voyage charter party took a big leap forward at a subcommittee meeting on 5-6 September. The aim of the project is to develop a standard form dedicated to the chartering of tankers for LPG, anhydrous ammonia and chemical gases based on the widely used tanker charter party, ASBATANKVOY.
In 2021 BIMCO initiated a project to develop a suite of LNG fuel clauses for time charter parties. The number of LNG fuelled ships in operation is growing steadily and the suite reflects the need to have bespoke clauses in time charters for these ships. The LNG clauses cover matters related to the LNG quality, delivery/redelivery, gas-freeing and cooling down and an operational clause. For dual-fuel ships the clauses are intended to be used together with the existing BIMCO bunker clauses for conventional fuel oils. The current suite of LNG fuel clauses for use in time charter parties also consists of: LNG Bunker Operational Clause for Time Charter Parties LNG Fuel Delivery Clause LNG Fuel Gas freeing and Cool down Clause
A 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.
