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New BIMCO ocean towage and barge contracts released
04 March 2021The latest editions of TOWCON, TOWHIRE and BARGEHIRE are now available on SmartCon.
Final notice on IDEA closure
20 December 2019IDEA will be shut down at midnight between 31 December 2019 and 1 January 2020 CET. It is impossible to execute a contract using IDEA after that time.
BIMCO launches new innovative contract editing solution
18 January 2018BIMCO has taken a big step forward and launched an innovative new solution for editing contracts.
BIMCO seeks industry help to combat fake contracts
11 February 2021Much of the shipping industry relies on BIMCO standard contracts. The contracts provide a familiar and secure contractual base on which parties can freely negotiate. However, the trust in the standard forms is undermined by fake copies that contain errors or even deliberately hidden changes to the wording. BIMCO wants your help to combat the industry’s often unknowing use of counterfeit copies of BIMCO forms.
SUPPLYTIME 2017 Special Tasks Annexes
12 March 2020SHIPLEASE
23 September 2020SHIPLEASE is a standardised term sheet intended for use in ship sale and leaseback transactions. The term sheet has been principally developed for sale and leaseback transactions involving second-hand ships, but it can be readily adapted to fit structures involving newbuildings or vessels that are undergoing major refit. It is suitable for use for both operating and finance leases, although it may need to be adjusted as appropriate. The latest edition of this contract is SHIPLEASE, issued in 2020.
SHIPTERM S
02 May 2018SHIPTERM S is a standardised term sheet intended for use in a syndicated, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a syndicate of lenders and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM S, issued in 2018. Copyright in SHIPTERM S is held by BIMCO.
BARGEHIRE 2021
24 February 2021This is the latest edition of BARGEHIRE which is a bareboat charter party specifically designed for unmanned, non-self-propelled seagoing barges. It is a lease agreement whereby the charterer obtains possession and full control of the barge along with the legal and financial responsibility for it as further detailed in the BARGEHIRE. The charterer generally pays for operating expenses such as maintenance and repairs but, unlike bareboat chartered ships, barges are often chartered with owner’s Hull & Machinery insurance made available to the charterer. Although not as often, Protection & Indemnity insurance can also be made available to charterers, especially when the duration of the contract is short. Copyright in BARGEHIRE 2021 is held by BIMCO.
TOWHIRE 2021
03 March 2021TOWHIRE is an ocean towage agreement on a daily hire basis. It is not intended for use in port towing. The latest edition of this contract is TOWHIRE 2021. Copyright in TOWHIRE 2021 is held by BIMCO.
