BIMCO’s work on a syndicated term sheet for use in ship financing transactions is now so advanced that it is ready for review by the industry.
BIMCO’s new standard term sheet for bilateral ship financing transactions, SHIPTERM, will be the focus of two seminars taking place in Singapore on 24 May and Hong Kong on 25 May.
SHIPTERM B for syndicated loans, will soon join BIMCO’s bilateral ship finance term sheet as part of the organisations’ venture into standard ship financing documents.
On 24 October, at a meeting in Shanghai, BIMCO started work to develop a new standard term sheet for ship sale and leaseback transactions.
If you missed the “SHIPTERM” webinar on 27 January don’t worry, the recording of the webinar is now available for viewing.
BIMCO’s “SHIPTERM” will be the focus of a seminar in London on 21 March.
BIMCO is setting up a sounding board with the aim to engage a broad group of stakeholders in the process of drafting a sale and leaseback term sheet, as the sale and leaseback market continues to expand.
A new “Shipmanagers’ Letter of Undertaking” (LoU) is now available on the BIMCO website, together with Explanatory Notes. The LoU sets out shipmanagers’ obligations to lenders financing owners’ purchase of a managed vessel.
BIMCO's ship financing term sheet is now ready for a second round of consultations following a two-day meeting in Copenhagen.
SHIPTERM is a standardised term sheet intended for use in a bilateral, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a single lender and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM, issued in 2017.... Please follow the link to continue reading.
