Explanatory notes to Designated Entities Clause for Sale & Purchase Agreements

Agency Appointment Agreement

The agency appointment agreement provides a set of standard provisions for appointing an agent for a one-off port call. The agreement is concluded between the agent and a shipowner, ship operator, charterer or manager, and it sets out the services to be performed and the remuneration to be paid. This contract was published 9 January 2017 and is the latest edition. Copyright in the Agency Appointment Agreement is held by FONASBA. The publishers are BIMCO and FONASBA.

Novation trio approved by Documentary Committee

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.

BIMCO publishes Electronic Bill of Lading Standard for Bulk Shipping

Globally, less than 2% of world trade is carried on electronic bills of lading. This is partly due to lack of open standards and interoperability. To help increase adoption of digital trade documents in shipping, BIMCO has published an electronic bill of lading standard.

Novation Agreement for the Transfer of Ownership

The Novation Agreement for the Transfer of Ownership is an agreement between the parties to novate the time charter party from the original owners to the new owners on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for the Transfer of Ownership, issued in 2016. Copyright in the Novation Agreement for the Transfer of Ownership is held by BIMCO.

First draft of revised SHIPMAN ready for review by Documentary Committee

The drafting team tasked with the revision of BIMCO’s suite of ship management and related third-party management agreements met in London last week to continue discussions on the revision of SHIPMAN, the widely used standard ship management agreement last updated in 2009. The draft is now ready for a first review by BIMCO’s Documentary Committee when it meets in April.

First ever standard contract for autonomous ship operation underway

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.

Industry Standard Software Maintenance of Shipboard Equipment

Proposed industry-wide standard for software maintenance produced by BIMCO and the international association for the marine electronics industry, CIRM (Comité International Radio-Maritime).

SHIPMAN revision well underway

BIMCO is revising its popular suite of ship management and related third-party management agreements to reflect current practices in the market. First in line is SHIPMAN 2009, BIMCO’s standard form ship management agreement that may include crew, technical and commercial management as well as insurance arrangements in respect of a ship.

EU ETS – BIMCO publishes standard compliance mandate

BIMCO has developed a standard mandate for use when the parties to a ship management contract agree to give a mandate to an organisation or person to comply with obligations under the European Union Emission Trading System (ETS). The standard has been developed as an independent, supporting document to the freestanding ETS – SHIPMAN Emission Trading Scheme Allowances Clause 2023 and SHIPMAN 2024 .