BIMCO Search Results

BIMCO publishes new standalone Refund Guarantee for Shipbuilding Contracts

A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committe... Please follow the link to continue reading.

Industry survey shows switch to low-sulphur fuel has not been without problems

The maritime industry’s transition to the sulphur regulation from the International Maritime Organization (IMO) which came into force on 1 January 2020 has not been without problems. Since fuel oil properties are fluctuating, it is expected that quality and safety problems will continue to be a chal... Please follow the link to continue reading.

77th meeting of IMO Marine Environment Protection Committee

Following COP 26, it was no surprise that most of the time spent on the deliberations at the 77th meeting of the IMO Marine Environment Protection Committee (MEPC 77) focused on GHG reductions from international shipping. Nevertheless, the committee still managed to make progress on ballast water ma... Please follow the link to continue reading.

New BIMCO/ICS Seafarer Workforce Report warns of serious potential officer shortage

Launched today, the new Seafarer Workforce Report from BIMCO and the International Chamber of Shipping warns that the industry must significantly increase training and recruitment levels if it is to avoid a serious shortage in the total supply of officers by 2026. Given the growing demand for STCW c... Please follow the link to continue reading.

Early results of Manpower surveys: most seafarers content with life at sea

A new survey being carried out as part of the BIMCO/ICS Manpower Report 2015 is directly engaging seafarers in order to understand their views on life at sea and outlook for the industry’s manpower in the years ahead. Preliminary results of the new survey indicate that the majority of respondents ar... Please follow the link to continue reading.

Explanatory notes

Introduction Clause 1 (Novation) Clause 2 (Guarantees) Clause 3 (Representation and Warranties) Clause 4 (Supervision) Clause 5 (Costs and Expenses) Clause 6 (Third Party Rights) Clause 7 (Notices) Clause 8 (Dispute Resolution Clause)   Introduction Novation ... Please follow the link to continue reading.