BIMCO adopts new tug, barge and “floating hotel” contracts
Overview
BIMCO has extended its library of offshore industry standard contracts with the adoption of ASVTIME – a time charter party for accommodation support vessels. Updates of BIMCO’s ocean towage agreements – TOWCON and TOWHIRE – have also been adopted along with a new edition of its charter party for hiring unmanned barges – BARGEHIRE.
The four new contracts were adopted by BIMCO’s Documentary Committee at its meeting held on 25 January and will be published shortly.
ASVTIME is the first offshore contract written by BIMCO designed to meet the needs of two distinct sectors - oil and gas sector and renewables. The charter party is based on the widely used SUPPLYTIME form and was developed with input from renewable majors Ørsted and Siemens Gamesa together with the Italian oil company Eni. Wagenborg Offshore, Deme and Floatel International provided owners’ perspective, with legal and shipbroking input from Wikborg Rein and Hagland Shipbrokers. The contract provides a choice of optional services in addition to accommodation – these include the use of motion compensated gangways, cranes, offshore bunkering, and the use of daughter craft.
“Although the market for these ships is relatively small, ASVTIME will fill an important gap in BIMCO’s suite of offshore contract,” says Edwin de Vries of Wagenborg Offshore, who chaired the drafting group.
Revised editions of three of BIMCO’s most well-known offshore contracts – TOWCON, TOWHIRE and BARGEHIRE – were also adopted. It has been 12 years since these standard forms were last updated and so the new editions reflect changes in commercial practice and legal developments. The appeal of these contracts is their simplicity, brevity and familiarity. Every effort has been made to retain these characteristics while improving and clarifying the clauses.
New features of TOWCON include a provision for mid-voyage bunkering on longer tows, and a mechanism for calculating compensation due to slow steaming or deviation. The revised BARGEHIRE introduces much clearer wording dealing with off-hire surveys, repairs and redelivery – which has often been a source of dispute in the past.
“We have modernised BARGEHIRE and clarified the wording in clauses that are known to have caused disagreements in the past – particularly in relation to repairs on redelivery. The result is a much improved version of BARGEHIRE which I believe is a worthy successor to BAGEHIRE 2008,” says Dirk Kwantes of LKL Oceantrade, who chaired the two subcommittees, who revised the tow and barge contracts.
Dirk was assisted in the revision of TOWCON and TOWHIRE by Boskalis, Ostensjo Rederi, Boluda Towage, Clarksons, Gard and the Standard Club. The revision of BARGEHIRE involved Heerema, Subsea 7, Ugland, Cashman Equipment Services and the Shipowners’ Club.
Notes to editors
For further information, or to request an interview, please contact:
Rasmus Nord Jørgensen
Communications Director
Mobile: +45 2168 0421
Email: rnj@bimco.org
About BIMCO
BIMCO is the world's largest international shipping association, with around 1,900 members in more than 120 countries, representing around 60% of the world’s tonnage. Our global membership includes shipowners, operators, managers, brokers and agents. BIMCO is a not-for-profit organisation.
Feedback or a question about this information?
Posted:
26 January 2021
Updated: 27 January 2021
VPS Bunker Alerts
Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples and have kindly permitted BIMCO’s Members to access this information.
The Bunker Alerts are not intended to be an evaluation of overall bunker quality in the port or area concerned, but usually highlight a specific parameter within the fuel which has raised a quality issue.
Latest ice reports for members
Latest piracy reports
Latest industry releasable threats
Related publication
BIMCO Bulletin (discontinued)
The archive of BIMCO's digital magazine which was published quarterly until mid-2021.
Related training
SUPPLYTIME Masterclass
- Vouliagmeni, Greece
- 18 November, 2024
The masterclass examines different versions of the SUPPLYTIME contract. During the course, we will also examine the practical and legal differences using SUPPLY...
ELSEWHERE ON BIMCO
Contracts & Clauses
All of BIMCO's most widely used contracts and clauses as well as advice on managing charters and business partners.
Learn about your cargo
For general guidance and information on cargo-related queries.
BIMCO Publications
Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.
About a new business partner
We can help members check new business partners. We also help to recover millions of USD (undisputed) funds every year.
