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The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a new CII Clause for Voyage Charter Parties. The clause was adopted by BIMCO’s Documentary Committee on 11 October and is the latest addition to BIMCO’s portfolio of carbon clauses.
In 2021 BIMCO initiated a project to develop a suite of LNG fuel clauses for time charter parties. The number of LNG fuelled ships in operation is growing steadily and the suite reflects the need to have bespoke clauses in time charters for these ships. The LNG clauses cover matters related to the LNG quality, delivery/redelivery, gas-freeing and cooling down and an operational clause. For dual-fuel ships the clauses are intended to be used together with the existing BIMCO bunker clauses for conventional fuel oils. The current suite of LNG fuel clauses for use in time charter parties also consists of: LNG Bunker Operational Clause for Time Charter Parties LNG Fuel Delivery Clause LNG Fuel Quality Clause
The CII Operations Clause for Time Charter Parties is now available to download free of charge from our website.
The different types of training at BIMCO Choose the way you want to learn about commercial shipping and maritime law.
Time chartering is a complex business. The shipowners give the time charterers substantial control over the commercial operation of the vessel in exchange for the regular payment of hire.
The threshold for invoking BIMCO’s Infectious or Contagious Diseases (IOCD) Clauses is necessarily set at a high level to avoid misuse. The two clauses, one for time and the other for voyage charters, are designed to respond to extreme outbreaks of diseases and not just “everyday” illnesses.
Italian energy company Eni, operating in more than 60 countries worldwide and employing more than 30,000 people, will be joining the recently launched BIMCO project to develop a standard charter party for Accommodation Support Vessels (ASVs).
The Charter Party Guarantee 2022 is a time charterers’ guarantee for all sums payable and liabilities under a time charter party. The latest edition of this contract is the Charter Party Guarantee, issued in 2022. It revises the 2012 version of the Guarantee. BIMCO recommends that the Owners request the Guarantor to deliver to the Owner a legal opinion from a lawyer qualified in the place of incorporation of the Guarantor confirming that the Guarantor has the necessary power and has taken all necessary corporate actions and obtained all necessary approvals (including exchange control approvals) to perform its obligations under this Guarantee. Copyright in the Charter Party Guarantee 2022 is held by BIMCO. BIMCO would like to thank the drafting committee for their commitment to the project and their considerable time and efforts in producing the Charter Party Guarantee: Ian Gaunt, Arbitrator (chairperson) Charlotte Grandjean, CMA-CGM Ralf van der Zalm, Anthony Veder Chartering B.V. Peter Eckhardt, Martini Chartering Suzanne Byrne, West Richard Lord KC, Brick Court Chambers The following explanatory notes are intended to explain the drafting team’s thinking behind some of the key clauses. This document is intended as a living document and will be expanded/adjusted based on relevant questions from users of the Guarantee.
