Documentary Committee News

BIMCO’s Documentary Committee has adopted a new time charter party which has been developed specifically for the maritime transport of liquefied carbon dioxide (LCO₂). The form, CO2TIME 2026, responds to the rapid development of carbon capture, utilization and storage (CCUS) projects and the need for a standardized contractual framework for maritime transport.CO2TIME 2026 is the first time charter party designed specifically for the carriage of liquefied CO₂. While firmly focused on the emerging CO₂ trade…

The Documentary Committee of BIMCO has adopted a FuelEU Maritime Clause and an ETS Clause for incorporation into Memoranda of Agreements (MoAs) for the sale and purchase of ships.The FuelEU Maritime Regulation and the EU Emissions Trading System (EU ETS) impact the sale and purchase of ships, and the clauses have been developed to help provide certainty for both parties during the process.“Regulations such as the FuelEU Maritime and EU ETS are complex and reshape our industry. Therefore, contractual clarity is essential.

BIMCO has initiated the development of a clause specifically addressing the new fees introduced on October 14, 2025 for US-related ships calling at ports in China.The Chinese Ministry of Transport announced on October 10 this year that new “Special Port Fees” would be imposed on ships arriving at Chinese ports if they are US-built or flagged or owned or operated by US entities, subject to certain exceptions. “Our industry is navigating escalating geopolitical uncertainty and trade restrictions.

The Documentary Committee of BIMCO has adopted a Methanol Annex to its Bunker Terms 2018. The annex is the latest addition to the BIMCO portfolio of contracts and clauses that support the maritime industry’s transition towards alternative fuels and decarbonization.The annex introduces new definitions to reflect ongoing developments in the bunkering landscape. It also targets the increasing importance of sustainability certification which is intended to verify the source and environmental…

The Documentary Committee of BIMCO adopted a standard clause aimed at addressing contractual uncertainties that may arise from the United States Trade Representative’s (USTR) Notice of Actions to impose fees on Chinese-related ships calling US ports.A BIMCO subcommittee comprising legal and commercial experts began working on the clause at the start of June, prioritizing its development as the USTR announced actions to impose fees on ships calling at US ports which are Chinese…

BIMCO has initiated the development of a standard industry clause with the aim to address contractual uncertainties arising from the United States Trade Representative’s (USTR) Notice of Actions to impose fees on Chinese-related ships calling US ports.The USTR has announced actions to impose fees on ships calling at US ports which are Chinese-built or have Chinese owners or operators. The actions are part of the USTR’s “Section 301 Investigation of China’s Targeting of the Maritime, Logistics, and Shipbuilding Sectors for Dominance”.

The Documentary Committee of BIMCO has approved revisions to its War Risk Clauses to reflect changes in the geopolitical challenges facing the shipping industry.The Documentary Committee reviewed the existing BIMCO War Risk Clauses and agreed on the updated versions, BIMCO War Risk Clause for Voyage Charter Parties 2025 (VOYWAR 2025) and the BIMCO War Risk Clause for Time Charter Parties 2025 (CONWARTIME 2025).A revision of BIMCO’s War Cancellation Clause 2004 was also considered…

On January 1, 2025, the FuelEU Maritime Regulation will come into force. The regulation may require stakeholders to start taking measures now and the BIMCO FuelEU Maritime Clause for Time Charter Parties 2024 is developed to help stakeholders align their contractual frameworks. The clause was adopted by BIMCO’s Documentary Committee on November 25, 2024. The shipping industry faces an increase in decarbonization regulations from the EU and the International Maritime Organization (IMO), BIMCO continues to add to its portfolio of carbon clauses to support the industry.

BIMCO’s Documentary Committee has adopted the AUTOSHIPMAN agreement in response to a growing number of remotely controlled ships, primarily for now, in inland waterways and coastal trades.The AUTOSHIPMAN agreement provides a standard contractual foundation for third-party ship managers to deliver services for the operation of remotely controlled or fully autonomous ships.“Currently, remotely controlled ships are operating commercially in several parts of the world. We are seeing growth in this sector with several companies emerging and offering remote control management services to shipowners…

BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the charterers’ uninterrupted use of a ship if the owner defaults under the financing facility. The QELs will be provided by the lender to the charterer to ensure that the charterer, who does not have a contractual relationship with the lender but only with the owner, can continue to “quietly enjoy” the ship in case of the owner’s default.

BIMCO’s Documentary Committee has adopted a new Emission Trading Scheme Allowances Clause for BIMCO’s ship management agreement, SHIPMAN, and three ETS clauses for Voyage Charter Parties. The clauses aim to facilitate collaboration and provide clarity and certainty between parties as new regulations come into force, changing the way the industry operates to achieve compliance and cut emissions.On January 1, 2024, the EU Emissions Trading System (EU ETS) will be extended to cover CO2 emissions from ships of 5,000GT and above calling at EU ports, regardless of flag.

BIMCO’s Documentary Committee has approved a revised version of the Continent Grain Charter Party, SYNACOMEX, to reflect changes in the geopolitical landscape following events including the COVID-19 pandemic and the war in Ukraine. The revised charter party now includes BIMCO’s anti-corruption clause and updated versions of the war risks and sanctions clauses.The charter party is developed by joint copyright holders SYNACOMEX and Armateurs de France, the French Union for Grains and Seeds Trade and the French Shipowners’ Association.

BIMCO has developed a new Carbon Intensity Indicator (CII) Clause for Voyage Charter Parties. The clause was adopted by BIMCO’s Documentary Committee on October 11 and is the latest addition to BIMCO’s portfolio of carbon clauses.“As the shipping industry works towards decarbonization, the need for new contracts and clauses increases. We are working constantly to ensure that BIMCO’s contracts and clauses are fit for purpose as the regulatory landscape changes,” says Nicholas Fell…

Shipping association BIMCO said it has created a new standard contract for providing a balanced contractual framework for security escort vessels (SEV) that accompany merchant ships in high threat areas such as the Gulf of Guinea, which has recently seen a rise in piracy activity as the dry season has begun.The new contract is dubbed SEV-GUARDCON because it is based on BIMCO’s GUARDCON contract for the employment of security guards on board ships.“The escort vessel’s capabilities…

BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.Sanctions have become a widely used geopolitical tool by governments. The rules are complex, imprecisely drafted, often changing, and the risks of violation can be high. The necessity of sanctions clauses that provide contractual certainty has prompted BIMCO to revise…

Law firm HFW said it has helped shipping association BIMCO draft an industry standard offshore decommissioning contact.The contract – DISMANTLECON – has been approved by BIMCO's Documentary Committee and will be released at the end of June, along with guidance notes. It can be used for removal of any offshore field architecture, including pipelines, mattresses, manifolds, jackets, topsides, platforms and monopole structures.HFW, which also recently helped BIMCO draft its first…

BIMCO, the largest of the international shipping associations representing shipowners, said that it has revised and updated its two standard ship repair contracts: REPAIRCON, which is for major work at a repair yard; and MINREPCON, which is for minor repair work that can be done by contractors when a ship is in port.Both contracts were approved at BIMCO’s Documentary Committee in Copenhagen on 13 November. Modifications and improvements have been made to the REPAIRCON contract, while MINREPCON has undergone a full review, said a release from the company.“Ship repair is a major undertaking and it’s important that both parties are fully aware of their respective part in the process.

The Baltic and International Maritime Council (BIMCO) has developed two bunker clauses to support the implementation of International Maritime Organization’s (IMO) sulphur 2020 regulations, which come into force on January 1, 2020.The largest of the international shipping associations representing shipowners poited out that the  Global Marine Fuel Sulphur Clause for Time Charter Parties was approved by the Documentary Committee at its meeting in Copenhagen on 13 November.“It is very important that the new sulphur clauses are ready well in advance to allow the parties to prepare ahead of 1 January 2020,” says Peter Eckhardt, chairperson of the drafting committee and Head of Chartering and Operations at Reederei F.

BIMCO’s Documentary Committee approved a new set of standard bunker terms, developed by a cross-industry group, in New York on 2 May. The BIMCO Bunker Terms 2018 improve on the previous edition with a maximum limit of the parties’ liabilities – a key change that will lead to wider adoption of the contract. “I think it is a positive step for the industry that representatives for the bunker traders and shipowners have agreed on a standard set of terms, which both parties consider fair and balanced,” says Francis Sarre, Chair of the BIMCO Documentary Committee. The trader representatives who helped draft the contract together account for 25% of the total bunker volume sold globally, which BIMCO sees as a very strong sign of support for the final result.

BIMCO and FONASBA have once again joined forces to create and launch a new general agency agreement for port agents, shipowners and ship operators contracting port agency services. The new standard contract, which can be downloaded from the FONASBA website and BIMCO’s IDEA, formalizes and sets out clear terms for any agreements made, for the benefit of both sides. Drawn up by the group responsible for drafting the Agency Appointment Agreement which was released earlier this year, the new contract is easy to use and can readily be adapted for single use or a long-term contract. Parties can select their requirements from a list of functions such as sales and marketing, port or general agency and husbandry and can agree other services to suit their needs.

FONASBA and BIMCO have launched a new Agency Appointment Agreement document. This new form, which is based on BIMCO’s tried and tested box layout, provides a simple, clear and effective means of confirming the details of an agency agreement for an individual or short series of port calls. Many agency appointments are agreed on the basis of a telephone conversation or simple exchange of emails and this new form formalises that exchange by clearly setting out the details of both parties, the basis of the remuneration and, importantly, stating the responsibilities and obligations of the parties to the agreement. The agreement was drafted over a period of some eight months by a small group comprising senior members of FONASBA and BIMCO.

In a landmark decision, BIMCO cemented its move into the domain of ship financing with the Documentary Committee’s approval of a standard term sheet for use in ship financing transactions on 17 November 2016. The term sheet 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. BIMCO President Philippe Louis-Dreyfus said: "I am particularly pleased to see BIMCO taking this important step. BIMCO is the world leader in the production of standard contracts and clauses for the maritime industry.

Three of the world’s largest bunker suppliers, including World Fuel Supplies and Dan Bunkering, have joined a team of industry experts to review BIMCO’s standard bunker contract – BIMCO Terms 2015. Shipowners will be represented by Denmark-based J Lauritzen and Norden. Legal and P&I input comes from Clyde & Co and the North of England P&I Club. The initiative is supported by the International Bunker Industry Association (IBIA) who will have a representative on the team. BIMCO Terms 2015 are increasingly accepted by suppliers and traders around the world as a fair and balanced set of terms and conditions for purchasing and delivering marine fuels.