What we are working on
Overview
Using feedback and experience from members and the industry, BIMCO keeps all its clauses and contracts under review. We have subcommittees working on the following updates or new projects, or have reviews planned to start in the coming months.
What we are working on
| SUBCOMMITTEE | DETAILS | EXPECTED PUBLICATION DATE | CONTACT |
| Wreck Removal Agreements | Following the publication of WRECKSTAGE 2024, the revision of the other standard contracts in the suite of BIMCO wreck removal agreements, WRECKHIRE 2010 and WRECKFIXED 2010, will begin in Q3. | 2025 | |
| ASBATANKVOY | The ASBATANKVOY charter party is widely used in the tanker trade but has not been updated since 1977. BIMCO is working together with the Association of Shipbrokers and Agents (ASBA) in New York to refresh and modernise this popular form. | 2025 | |
| War Risks and War Cancellation Clauses |
The BIMCO CONWARTIME and VOYWAR War Risks Clauses, respectively for time and voyage charter parties, were last revised in 2013 and the BIMCO War Cancellation Clause was revised in 2004. Considering the geopolitical landscape and the importance of these clauses a revision has been undertaken to ensure that the provisions remain in line with commercial needs and insurance requirements. |
2025 | Carl Lindahl Zehra Göknaz Engin |
| WINDSEACON | WINDSEACON is a BIMCO initiative to create a standard time charter party for the transport and installation of wind turbines in offshore wind farms. The project aims to address the unique challenges and needs of the offshore wind industry, which is growing rapidly as a result of the global demand for more renewable sources of energy and the need for decarbonisation. |
2025 | |
| HEAVYLIFTVOY | A revision of HEAVYLIFTVOY, BIMCO’s standard voyage charter party for the mid-sized heavy lift sector carrying specialist cargo published in 2009, will commence in Q3, 2024. | 2025 | Zehra Göknaz Engin |
| FuelEU Maritime and Biofuels Clauses | BIMCO has formed a dedicated subcommittee to create clauses in response to the introduction of the FuelEU Maritime Regulation. This subcommittee has prioritised the drafting of a FuelEU Maritime Clause for Time Charter Parties, aiming to clearly delineate the responsibilities of ship owners and charterers concerning fuel procurement and compliance with the Regulation. BIMCO is continuously monitoring contractual developments related to FuelEU Maritime pooling and bunker supply agreements, assessing the potential need for new contractual solutions in the future. This proactive approach is designed to aid the industry as it adjusts to the FuelEU Maritime over the coming months. |
2024 | |
| FuelEU SHIPMAN Clause |
Beyond the FuelEU Maritime for Time Charter Parties, BIMCO has identified a need to consider the role of ship managers in the context of the FuelEU Maritime introduction. This requirement stems from the fact that under this regulation, the ISM (International Safety Management) company remains the accountable entity, irrespective of whether this entity is the registered owner, bareboat charterer, or a third-party technical manager such as a ship manager. Currently, there is no indication that this responsibility will shift. Consequently, the job of drafting a FuelEU Maritime Clause for SHIPMAN, which would govern the contractual relationship between ship managers and ship owners, has been delegated to a separate subcommittee to expedite the process. |
2024 | |
| Methanol Bunker Annex and Dual Fuel Clause | These terms will be produced as an additional Annex to complement the existing BIMCO Bunker Terms 2018, also considering whether a clause addressing the use of dual fuel as an interim solution in the transition towards alternative fuels. | 2024 | |
| Data Sharing and Energy Efficiency Performance Clause | This project aims to develop a comprehensive "Data Sharing and Energy Efficiency Performance Clause" for the maritime industry. This initiative seeks to enhance vessel efficiency, through the structured exchange of data and the establishment of (technical) performance benchmarks empowering the efficient operations of vessels by reducing fuel consumption, emissions, and maintenance costs. | 2025 | |
| Retrofitting Cost/Benefit Clause | This project aims to develop a “Retrofitting Cost/Benefit Clause” for the maritime industry, focusing on enhancing energy efficiency, reducing environmental impact, and improving overall vessel performance. The clause is intended to contain a cost-benefit sharing scheme, aiming to incentivise both owners and charterers to invest in retrofit projects. | 2025 | |
| CO2 Charter Party | This project aims to develop a time charter party tailored for seaborne carriage of carbon dioxide (CO2). While it is possible to employ existing charter parties for such contractual agreements, the unique and challenging conditions and potential liabilities associated with CO2 carriage and storage warrant the development of a dedicated charter party contract specifically addressing the needs of shipowners and charterers involved in transport of CO2. | 2025 | |
| RECYCLECON | This project aims to review and update the existing contract based on the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships entering into force on 26 June 2025 given Liberia and Bangladesh have recently ratified the Convention. | 2025 | |
| Regional Workshops | New regional workshops will be held to increase engagement and input for the Documentary Committee. | Stinne Taiger Ivø | |
| CREWMAN | BIMCO’s suite of ship management agreements (SHIPMAN, CREWMAN A and CREWMAN B, SUPERMAN and LAYUPMAN) are being revised to take into account relevant developments in ship management and related third-party management practices since the agreements were published. Based on the new SHIPMAN 2024, the work to revise CREWMAN A and B will begin in the second half of 2024. | 2025 |
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