Dynamic Precision at Sea: BIMCO publishes DP Annex for SUPPLYTIME 2017...

Dynamic Precision at Sea: BIMCO publishes DP Annex for SUPPLYTIME 2017

Published: 24 January 2024

BIMCO achieves a significant milestone with the release of the Dynamic Positioning (DP) Annex for SUPPLYTIME 2017, underscoring its commitment to advancing contractual standards in the shipping industry. The newly published Annex establishes a standardised framework for the use, maintenance, and operations of DP systems in the offshore sector, providing clarity and guidance for industry stakeholders adding to the suite of Special Tasks Annexes already published.

DP systems, which maintain a vessel's position without anchors, have become an integral part of offshore operations. BIMCO has developed the DP Annex to address the need for a standard, market-neutral and well-balanced document; serving either as a standalone proforma or as a starting point for negotiations between the parties, making it easier for parties to negotiate such contracts.

The DP Annex is a response to the industry's evolving dynamics and the heightened reliance on DP systems. With the industry moving towards more automated technology and more efficient practices, this Annex provides a comprehensive framework to navigate the complexities of DP operations within the offshore sector. The subcommittee, consisting of industry experts, has successfully developed the Annex which was adopted by the Documentary Committee on 23 January 2024.

Ian Perrott, the chairperson of the DP Annex subcommittee states, "Our subcommittee successfully addressed some complex practical and contractual challenges in crafting the DP Annex, acknowledging the impact of dynamic positioning within SUPPLYTIME. Despite being the most challenging and intricate among the SUPPLYTIME Annexes, after following an extensive industry consultation, we are confident that we have developed an Annex capable of mitigating disputes, standardising trials and facilitating negotiations."

The publication of the DP Annex has been made possible with expertise from the subcommittee members: Ian Perrott (Independent OSV Consultancy), Graeme Reid (IMCA), Dorota Chmielewska (Siemens Gamesa), Ashok Srinivasan (BIMCO), Janet Ching and Carl Durow (London P&I Club) and signifies a collaborative effort to address the challenges posed by DP systems in offshore work.

Stay up to date with BIMCO's continued dedication to updating and developing contractual standards for the shipping industry by subscribing to our newsletters – keep an eye out for an article next week about one of our latest projects related to offshore wind: WINDSEACON.

Stinne Taiger Ivø, Deputy Secretary General

Natalie Wong, Project Manager, Contracts & Clauses

Zehra Göknaz Engin, Project Manager, Contracts & Clauses

Contact Contracts & Clauses department at contracts@bimco.org.

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