Updating ASBATANKVOY

Published: 01 September 2022

Work to revise ASBATANKVOY continued in late August at BIMCO House in Copenhagen. Over two days, the joint drafting team set up by BIMCO and the Association of Ship Brokers and Agents in the USA considered changes to the popular tanker charter party.

Why does ASBATANKVOY need updating?

To bring it up to date with modern tanker trade and address issues that have been raised by stakeholders in the industry. We have, amongst other things, considered Clauses 6 (Notice of Readiness) and 9 (Safe berthing - Shifting) in relation, notably, to the interplay between the two clauses and how to address certain types of delay. We are also working on a standalone bill of lading and a set of optional additional clauses for use with the printed form.

How is the updating done in practice?

By working our way through the form, Part by Part, Clause by Clause. It can be a daunting task considering that the current form dates back to 1977. But we are making good progress, having had a first go at the entire form and, with additional online sessions in the coming months, we are planning to have an industry consultation in early 2023 so that you can have your say.

Thanks to Stephen Harper, BW Group and BIMCO co-chair, Søren Wolmar, Quincannon and ASBA co-chair, Li Xuhua (COSCO Shipping Energy Transportation Co.), Heather Johnson (Chevron), Heather Trosclair (UNIPEC America), Chris Young (Dietze & Associates), Richard Reisert (Clark, Atcheson & Reisert), Patrick (PJ) Brennan (Poten & Partners), Magne Andersen (Nordisk Defence Club), Molly McCafferty (American Club) and Dimitris Dimopoulos , MICS (INTERTANKO).

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