BIMCO position statement 12: Cyber Risk Management
14 December 2023BIMCO's position has been approved by the BIMCO Board of Directors.
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BIMCO's position has been approved by the BIMCO Board of Directors.
At 00:01 UTC on 1 January 2023, the Shipping Industry Indian Ocean High Risk Area (HRA) for piracy will be removed.
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For the new 22-23 season beginning September 2022, Australia is introducing changes to the measures for brown marmorated stink bug which will apply to vessels carrying goods from target risk countries as well as emerging risk countries.
Under a conventional cargo time charter party, the right to suspend performance for non-payment of hire provides owners with a powerful commercial tool to leverage late hire payments. However, based on industry feedback, applying the same sanction under BARGEHIRE is impractical.
BIMCO is developing a clause dealing with cyber security risks and incidents that might affect the ability of one of the parties to perform their contractual obligations.
The Round Table of international shipping associations plus the OCIMF representing the global shipping and oil industry have announced the geographic boundaries of the ‘High Risk Area’ for piracy in the Indian Ocean have been reduced, with new advice issued to merchant ship operators.
A continued downward trend in Somali piracy has prompted leading shipping organisations to reduce the geographic boundaries of the ‘High Risk Area’ (HRA) for piracy in the Indian Ocean, which will apply from 1 September 2021.