BIMCO

You are invited, if you are around Genoa, Italy on Thursday 12 September! You are invited to get valuable insight on EU ETS & Fuel EU, when Stinne Taiger Ivø, BIMCO, Anders L. Johannessen, Lockton Edge and Alessio Sbraga, HFW in a panel will answer the question: What is the Impact? This panel debate is part of an afternoon seminar held at the breathtaking Villa delle Peschiere, HQ of Lockton P.L. Ferrari in Genova. You can also dive into the panel debates "Shadow fleet - What are the consequences for P&I and H&M Insurance?" and "Navigating Sanctions and War Risks", where BIMCO's former president SADAN KAPTANOGLU, Kaptanoğlu Group is discussing the topic with Alexander Brandt, Reed Smith and Stinne Taiger Ivø, BIMCO, kindly moderated by BIMCO’s Zehra Göknaz Engin. See the full program and sign up here: https://lnkd.in/dBi9kieV #BIMCO #MaritimeSeminar #FuelEU #Decarbonisation

New BIMCO contract for CO2 transportation on the horizon BIMCO has started work to develop a new time charter party specifically designed for the maritime transportation of carbon dioxide (CO2) – an “industry first” which will be particularly relevant for the carbon capture and storage (CCS) market that is emerging as part of global efforts to combat climate change. A specialist drafting team with representatives of owners, charterers, brokers and P&I Clubs as well as technical and legal experts, who are all currently engaged in the CCS supply chain or have plans to become involved in the coming years, has been meeting regularly since April and continued its work on the new form at an online meeting on 27 and 28 August. The team expects to have a draft ready for wider industry consultation early next year.  Continue reading here: https://lnkd.in/dX2av8en #BIMCO #MaritimeLaw #CO2 #Decarbonisation #Chartering

Pernille Skov Korsager, Chairperson of the WINDSEACON Subcommittee at BIMCO, discusses the development of the WINDSEACON contract. This contract is designed to standardise the transportation and installation of wind turbines for #offshore wind farms, addressing the growing demand for renewable energy. The subcommittee includes experts across the offshore wind industry, ensuring a comprehensive approach to this important initiative, including Stinne Taiger Ivø, Natalie Wong and Zehra Göknaz Engin. #BIMCO #RenewableEnergy #WindFarms

“BIMCO strongly condemns the recent attack on the “Sounion” tanker. The attacks by Houthis on ships in the Red Sea are not only a threat to the lives of our seafarers but also a threat to the environment. We call for an immediate end to attacks on seafarers and the world fleet. Using drones and firing missiles at innocent seafarers and risking major environmental damage is unacceptable; shipping is simply trying to keep the world supplied with products people need,” says BIMCO President Niko Schües. #BIMCO #Seafarers #MaritimeSafety #Shipping

𝗧𝗮𝗻𝗸𝗲𝗿 𝗦𝗵𝗶𝗽𝗽𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 & 𝗢𝘂𝘁𝗹𝗼𝗼𝗸 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮𝟬𝟮𝟰 Rebound in oil demand could lift market in latter half of 2024 - The supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as newbuilding deliveries increase - The IEA expects an oil demand increase of 1.0 mbpd in both 2024 and 2025 - The crude tanker fleet is estimated to grow 0.5% in 2024 and 1.2% in 2025 as the order book remains small Read, watch or download the full report here https://lnkd.in/djcd3ByU #Tankership #ShippingMarketAnalysis #BIMCO #CrudeOil #Maritime

Do you know whether you are using an authentic #BIMCO contract? And do you know the risks if you’re not using one? BIMCO is recognised as the world leader in the development of standard contracts and clauses for the shipping industry and our standards are widely used in the maritime and offshore sectors. All of our most widely used time and voyage charter parties, bills of lading and other standard agreements are available in an electronic format using BIMCO's charter party editing system SmartCon. By using SmartCon or another BIMCO-approved system to manage your agreements, you can be confident that the contracts you are negotiating and finalising are authentic BIMCO forms.  This provides contractual certainty as changes made to the standard wording will be clearly visible which, in turn, puts you in a position to determine what you are signing up to. Using BIMCO contracts which are not authentic involves commercial, legal and financial risks and is a breach of BIMCO's copyright.  Short clause with a potential large impact To reduce the often inadvertent use of counterfeit BIMCO contracts, all new and revised BIMCO forms contain the BIMCO Authenticity Clause adopted in 2020. The Authenticity Clause is prominently featured in Part I of all forms published after 2020, above the signature boxes. According to the clause, the party responsible for issuing the final execution version of the contract warrants that it is an authentic BIMCO template procured from a properly authorised source (such as SmartCon) and that all modifications to it are clearly visible. If a party is reluctant to include the clause, it should serve as a warning that the contract is not a genuine BIMCO standard agreement. #MaritimeLaw #ShippingContracts #Chartering #Offshore

𝗖𝗼𝗻𝘁𝗮𝗶𝗻𝗲𝗿 𝘀𝗵𝗶𝗽 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝗶𝗻𝗴 𝘀𝗽𝗿𝗲𝗲 𝗻𝗼𝘄 𝗲𝘅𝗰𝗲𝗲𝗱𝘀 𝟭𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗧𝗘𝗨  When only six ships with a capacity of 4,746 TEU were contracted in the fourth quarter of 2023, many might have thought that the container ship contracting spree that began in 2021 had finally cooled. However, the appetite for new ships remains high and year-to-date contracting already exceeds the 2023 full year total. That brings the total capacity contracted since the start of 2021 to 10.47m TEU. Read the full report here: https://lnkd.in/drJekCby #container #maritime #marketanalysis

Frequently Asked Questions about FuelEU Maritime - When will FuelEU Maritime come into effect? - How does FuelEU Maritime work? - What are the reduction targets under the FuelEU Maritime? - Who is responsible for compliance with the FuelEU Maritime? Find all the answers and stay updated with the latest changes and regulations in the shipping industry here: https://lnkd.in/d_AkD-Hq #Maritime #FuelEU #ShippingRegulations #GreenShipping #Decarbonisation

FuelEU Maritime - update on BIMCO Documentary Work The dedicated subcommittee to examine the implications of the FuelEU Maritime Regulation, part of the EU's “Fit for 55”, has made significant progress drafting a clause for time charter parties as well as for SHIPMAN. In a time charter context, a ship owner generally charters out a vessel to the charterer for a specific time period, and the charterer takes responsibility for procuring the fuel used to trade the vessel. In the context of FuelEU Maritime, which mandates a reduction in the greenhouse gas intensity of energy used on ships, this contractual relationship becomes central. Compliance with FuelEU Maritime is heavily dependent on the type of fuel used, and as the charterer is in charge of procuring fuel under a time charter, the BIMCO subcommittee has identified this as a crucial area to address. The new FuelEU Maritime Clause for Time Charter Parties will aim to clearly define the responsibilities of ship owners and charterers in relation to procurement of fuel and compliance with the regulation. The subcommittee is working to ensure the standard clause provides a framework to address the regulation, and an industry consultation has been conducted to gather the wider industry’s feedback. The feedback is expected to assist the subcommittee in developing a more balanced clause which will act as a market standard for the shipping industry. In addition to this, BIMCO has recognised the necessity to consider the role of ship managers with the introduction of FuelEU Maritime. This need arises from the fact that the ISM (International Safety Management) company remains the responsible entity under this regulation, regardless of whether this entity is the registered owner, bareboat charterer, or a third-party technical manager such as a ship manager. At this point, there are no signs that this responsibility will shift. Unlike the EU ETS, where the EU was entrusted to interpret the term "shipping company", no such mandate was given under FuelEU Maritime. As a result, the task of drafting a FuelEU Maritime Clause for SHIPMAN, which would regulate the contractual relationship between ship managers and ship owners, has been assigned to a separate subcommittee to accelerate the work. This other subcommittee is composed of ship managers, shipowners and a private practice law firm. Both subcommittees are working with the aim of having the two clauses ready for adoption later this year. This work represents a significant step forward in ensuring industry-wide compliance with FuelEU Maritime and aligns with BIMCO's commitment to fostering industry-wide collaboration. BIMCO is also keeping a close eye on contractual developments related to FuelEU Maritime pooling and bunker supply agreements and whether any new contractual solutions should be developed in future to further assist the industry as it comes to terms with FuelEU Maritime in the coming months. #BIMCO #FuelEU #shippingindustry

Join the BIMCO Tanker Safety Network Today! Are you a BIMCO member operating tankers? Don't miss out on the exclusive benefits of our Tanker Safety Network. We've been empowering tanker operators like you for years, providing essential insights, resources, and a collaborative platform to enhance safety and efficiency. Why join? * Connect with industry peers for knowledge sharing and best practices. * Access valuable resources and tools to improve your operations. * Stay informed about the latest safety trends and regulations. Ready to take your tanker operations to the next level? Join the BIMCO Tanker Safety Network now! #BIMCO #tankersafety #safetyatsea #enclosedspaces #shipsandshipping #shippingindustry