SHIPMAN revision well underway

Published: 13 December 2022

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.

Good progress was made at the 5 and 7 December meeting of the subcommittee tasked with the revision. Focus was, amongst other items, on adding provisions reflecting predelivery services, ie services performed by ship managers for and in respect of the ship prior to its delivery, and the management fee to be paid for such services.

In addition to reviewing amongst other the clauses dealing with insurance and liability, new provisions on ship managers’ right to subcontract to affiliate companies, sanctions and anti-corruption are being developed – some based on existing BIMCO standards. A dedicated ETS Allowances Clause has been modelled on the basis of the time charter version of the clause and will be revisited once the EU legislative process has been finalised.

“We want to ensure that the contract is fit for purpose and reflects the developments that have taken place in the industry over the past decade and more,” says Capt. Ajay Hazari of Anglo-Eastern Ship Management who leads the drafting team revising the much-used ship management form.

In addition to Capt. Hazari, the drafting team consists of the following shipowners and ship managers as well as insurance and legal experts: Steve Davies (Anglo Ship), Torfin Eide (Hansa Tankers), Simon Spark (Oldendorff), Dora Costa and Graham Prayel (V Ships), Sebastian Hardenberg (BSM), Capt. Gaurav Rajora (Fleet Management), Tim Howse (GARD), Robert Hodge (ITIC), Tim Davies (West) and Stephen Mackin (Clyde & Co.).

The drafting team will continue its work in January 2023. Once finalised, relevant changes to SHIPMAN will be carried over to BIMCO’s other management agreements, namely the CREWMAN A and B crew management agreements, the SUPERMAN management agreement for the supervision of ship construction and LAYUPMAN, BIMCO’s standard contract for the laying up of ships. Work to develop an industry first ship management contract for autonomous ships, AUTOSHIPMAN, is taking place concurrently and the new standard is being modelled on SHIPMAN.

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