BIMCO has decided to start labelling all versions of its standard clauses with the year of publication, including the original edition, with the aim to reduce disputes over which version parties have agreed to.
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the charterers’ uninterrupted use of a ship if the owner defaults under the financing facility.
BIMCO has developed a new standard term sheet for syndicated ship financing (SHIPTERM S) – the first industry standard of its kind for syndicated loans. The term sheet was approved for publication at BIMCO’s biannual Documentary Committee meeting on May 2 in New York.
BIMCO is adapting the currently used SHIPMAN 2009 agreement for use with autonomous ships, but the lack of actual autonomous ships currently in operation will mean ongoing adjustments as the industry forges ahead with its pioneering projects. Publication of the first version is expected in 2021.
A new industry working group established with the purpose of updating the existing Industry Standard on Software Maintenance of Shipboard Equipment has kicked of its work and aims to submit its recommendations to the International Maritime Organization (IMO). The work can help ensure that shipboard software updates happen in a standardised, secure, and systematic way, preventing accidents such as blackouts and malfunctions.
The BIMCO Standard Mate’s Receipt is available free of charge in English and six additional dual-language versions: English/Arabic, English/Chinese, English/Japanese, English/Korean, English/Portuguese and English/Spanish.