BIMCO’s ship financing term sheet SHIPTERM now available – join the webinar on 27 January
Overview
The standard term sheet for bilateral ship financing transactions adopted by BIMCO’s Documentary Committee has now been published together with explanatory notes on IDEA. A copy of the term sheet, codenamed SHIPTERM, and explanatory notes are also available.
A webinar will be held on 27 January at 10:00 CET to inform about the term sheet. The webinar will be introduced by Søren Larsen, Deputy Secretary General of BIMCO, and hosted by Christian Hoppe, General Counsel at BIMCO, who will be joined by four representatives of the subcommittee that developed the term sheet:
- Francis Sarre, CMB (chairperson of the subcommittee)
- Klaus Vilstrup, Dampskibsselskabet NORDEN A/S
- Matt Hannaford, Hannaford Turner LLP
- Peter Willems, HSBC
Sign up for the webinar here.
The webinar will last for one hour and will provide an introduction to the term sheet, its background and content, followed by a panel discussion where viewers will be able to ask questions. Questions can also be submitted in advance to contracts@bimco.org and the four representatives will try to address them during the webinar.
The term sheet was adopted by the Documentary Committee on 17 November 2016. It has been drafted as a short and simple standard for use in bilateral ship financing transactions concerning term loan facilities. It has been prepared in the well-known BIMCO format and is indicative/non-binding, as this is considered to be the market standard.
A series of seminars in Europe, the Middle East and Asia will be held to inform about the term sheet. More information about the seminars will be made available soon.
The subcommittee also included the following representatives:
- Christopher Conway, Citi
- Daming Qian, ICBC
- Gildas Maire, Louis Dreyfus Armateurs
- Liv Hege Dyrnes, AS Klaveness Chartering
- Michael Vernell, Watson Farley & Williams LLP
- Michael Ziesenitz, Deutsche Bank
- Nick Fell, BW Group
- Olga Petrovic, Linklaters LLP
- Robin Bencard, shipping and structured asset financing consultant
- Xavier Riffaud, INGEPAR
Feedback or a question about this information?
Posted:
09 January 2017
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