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.
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.
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.
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.
03 March 2020
The spread of the COVID-19 virus is causing significant issues in the shipbuilding industry, but English law has no general concept of force majeure, and this is a key factor in the relationship between shipyards and shipowners.
03 March 2020
The spread of the COVID-19 virus has led to shipyards claiming ‘force majeure’. This article looks at key issues shipowners should be aware of when it comes to shipbuilding contracts and force majeure.
02 November 2017
HANDYSIZE: Brokers suggested a negative sentiment as more tonnage has been building up this week.
The Baltic Exchange daily fixture report features daily updates on the Baltic exchange indexes, timecharters, periods, voyage fixtures and is listed by ship name, size, delivery place and freight rate.
The weekly dry bulk market report by the Baltic Exchange contains news impacting the following segments; capesize, panamax, supramax and handysize.
21 December 2018
BIMCO and MAN Energy Solutions hosted a conference for software suppliers delivering Computerised Maintenance Management Systems (CMMS) to expand the use of Shipdex. Shipdex is the standard protocol for exchanging technical data - such as manuals – electronically between supplier and ships directly, cutting the need for huge stacks of - often outdated - paper manuals.
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