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.
17 October 2016
The Standard Agreement for the Supervision of Vessel Construction, codenamed SUPERMAN, clearly sets out a ship managers’ duties and obligations when providing supervision services to a newbuilding project. It is an agency based agreement whereby the supervisors act for and on behalf of the owners. SUPERMAN is modelled on SHIPMAN 2009 and includes the same structure of liability provisions. Payment is on a “cost plus fee” basis.
The latest edition of this contract is SUPERMAN, issued in 2016.
Copyright in SUPERMAN is held by BIMCO.
20 September 2016
NEWBUILDCON is the industry’s only international standard shipbuilding contract designed for use in any jurisdiction and for any type of ship. BIMCO’s objective in creating NEWBUILDCON was to balance the interests of shipowners and shipbuilders in a clearly written and well-structured comprehensive contract that improves upon the other standard forms in the market.
The latest edition of this contract is NEWBUILDCON, issued in 2007.
Copyright in NEWBUILDCON is held by BIMCO.
26 November 2017
Carbon emissions, safety and cyber security were at the top of the agenda at the annual Tripartite Shipbuilding Forum which attracted more than 100 delegates.
03 June 2014
Greek shipowners are not only the most active nation when it comes to sales and purchases, they are also investing the most in newbuilding contracts. Since 2010, contracts made by owners in Greece total USD 51 billion, consistently dwarfing the likes of Norway and China as buyers.
11 May 2016
BIMCO's Documentary Committee met on 10 May in Copenhagen and approved for publication three standard novation agreements for time charter parties and shipbuilding contracts.
04 December 2015
The current newbuilding prices for dry bulk ships has dropped so much, that they are now at the lowest level since 2003. As they have just passed the lows of 2012 heading downwards.
10 June 2010
The first four months of 2010 saw ups and down for the BDI with the index hovering around 3,000, but May brought along stronger rates particularly to Capesize
07 November 2018
Healthy activity resumed in the newbuilding market, with recently reported orders revealing steady interest in the tanker sector. Although price details in the most recent deals have not been reported so far, we won’t be surprised to see slightly higher levels sooner rather than later as demand for newbuildings remains very firm in the sector.
The weekly sale and purchase report by Intermodal Research & Valuations features secondhand sales market prices for crude oil- and oil product tankers, dry bulk carriers, container ships and gas tankers.
07 July 2016
A new edition of BIMCO’s Dispute Resolution Clause has been published. New wording has been added to the US law, New York arbitration option to ensure that non-maritime contracts (such as shipbuilding contracts) are not inadvertently excluded from the scope of the clause.