All of BIMCO`s most widely used bill of lading agreements and other standard agreements are available in an electronic format with bimCO`s smartCon online charter-party content management system. BIMCO adapts the 2009 shipman agreement currently used for use with autonomous vessels, but the lack of actual autonomous vessels currently in service will require ongoing adjustments as the industry continues its revolutionary projects. The release of the first version is expected in 2021. BIMCO responds to the need to carry out transactions between shipowners and charterers in a standardized, efficient and fair manner. Both parties know – roughly – what they can expect from a BIMCO charter-party. When a standardized BIMCO charter party is used, non-legal maritime professionals can often settle disagreements by referring to the “four corners of the contract” – and without a lawyer. This can reduce stress and transaction costs, facilitate negotiations and facilitate the generation of more business and profits. When entering new markets that raise new legal issues, European shipowners turn to BIMCO to generate new contractual responses. GenCON 94, for example, is not suitable for transferring maintenance crews to catamarans, dismantling the foundations of wind farms installed on the seabed with giant cranes, or moving heavy project loads as part of billion-dollar supply chains. . But the past is over, and the use of a standardized charter party gives shipowners parity to take on new challenges, even if they don`t fully understand their exposure. Even if charterers are more than ever looking for good deals, shipowners don`t have to be easy prey. BIMCO`s safety reports provide members with important advice to protect their vessels and staff In January 2021, BIMCO will invite industry to review the new vessel sales agreement in preparation and provide feedback.

The new form is expected to be published in 2021. As everyone knows, this is a difficult time for shipping, and shipowners have no place for luxury. BIMCO`s standardized approach may not be the most ornate, but it is robust. Since the Internet has made it easier and cheaper for anyone to buy a bespoke suit, the same technology has also increased the availability, easy access and flexibility of BIMCO`s standardized charter parties. In a difficult market, shipowners often have to say “yes”, even if their legal team shouts “no” in the background. And this is something that BIMCO unfortunately cannot solve. But I remain hopeful that this unfair race to the bottom will not continue – and cannot – last forever. MarEx Do you need help? Talk to BIMCO industry experts today The opinions expressed here are those of the author and not necessarily those of The Maritime Executive. BIMCO contracts are like ready-to-use combinations. You can remove it, fill it out and use it without much hassle. And they are solid in a variety of situations.

If you want to do a little more, you can also take a standard suit to a tailor and make it fit better. Similarly, if you give a competent lawyer a BIMCO charter-party as a basis, he can adapt it to the circumstances and make it functionally equivalent to a custom charter-party. BIMCO`s Board of Directors has advised Nick Fell, Executive Vice President of Corporate Services and General Counsel at BW Group in Singapore, to assume the role of Chair of the BIMCO Documentary Committee in the summer of 2021. The Baltic and International Maritime Council (BIMCO), based in Copenhagen, is a shipowner-led organization that accounts for 65% of the world`s tonnage. .

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