BIMCO has introduced a Biofuel Clause for Time Charter Parties to address legal and operational challenges stemming from low-carbon fuel use in shipping. This clause provides clear definitions, aligns with ISO standards, and includes processes for sampling and testing biofuels, ensuring safe and efficient integration into charter agreements as the industry decarbonizes.
During the Maritime Convention of the Americas, a vital Memorandum of Understanding was signed between the Panama Maritime Chamber and BIMCO. This agreement fosters cooperation on maritime training and events in Panama and Latin America, aiming to enhance education and strengthen industry ties amidst global trade uncertainties.
BIMCO’s campaign film, “Seafarers Deserve Fair Seas,” highlights the perilous conditions faced by maritime crews. With seafarers transporting 12.5 billion tonnes of goods annually, their safety is jeopardized by severe weather, piracy, and unjust legal actions. The film underscores the urgent need for reforms to protect these essential workers.
Since the onset of the Iran war, global seaborne crude oil shipments have decreased by 16%, equating to a loss of 7.6 million barrels per day. The closure of the Strait of Hormuz has severely restricted tanker transits, impacting overall oil production and market availability significantly.
The BIMCO Documentary Committee has introduced new clauses for Memoranda of Agreements (MoAs) regarding ship sales, addressing the complexities of the FuelEU Maritime Regulation and EU Emissions Trading System. These clauses clarify responsibilities, costs, and data-sharing obligations, ensuring both buyers and sellers navigate evolving maritime regulations effectively.
BIMCO is developing a new clause to address “Special Port Fees” for US-related ships arriving at Chinese ports, effective October 14, 2025. This follows the Chinese Ministry of Transport’s announcement on October 10. BIMCO aims to provide clarity amid geopolitical tensions and has prioritized drafting this new clause.
BIMCO and WISTA International have formalized their partnership through a Memorandum of Understanding, aiming to enhance workforce sustainability and promote gender inclusivity in the maritime sector. This collaboration, finalized at Maritime Cyprus, focuses on research, training, and empowering professionals, particularly women, to thrive in the evolving maritime landscape.
The BIMCO Documentary Committee has introduced a Methanol Annex to its Bunker Terms 2018, enhancing the maritime industry’s transition to alternative fuels. This annex establishes new definitions for bunkering practices and emphasizes sustainability certification, while implementing stringent safety measures to ensure safe methanol use, reflecting a commitment to environmental responsibility.
BIMCO and ASBA have updated ASBATANKVOY, the non-affiliated tanker form, to reflect changes in the industry since 1977. Developed with input from industry leaders, the 2025 edition includes updated provisions and arbitration venues to streamline the chartering process. The revised form aims to enhance legal certainty and reduce the need for additional rider clauses.
The BIMCO Documentary Committee has approved revisions to its War Risk Clauses to address evolving geopolitical challenges in the shipping industry. Updated versions include the VOYWAR 2025 and CONWARTIME 2025 clauses. Chairperson Nicholas Fell stressed the importance of reflecting conflicts accurately. The committee also discussed war risk insurance aspects.
The FuelEU Maritime Regulation, effective January 1, 2025, requires action from maritime stakeholders. BIMCO’s FuelEU Maritime Clause for Time Charter Parties 2024 aims to align contracts with the regulation. Ship owners must comply, with the option to delegate to third-party ship management. BIMCO’s carbon clauses portfolio supports industry decarbonization efforts.
The BIMCO FuelEU Maritime Clause for Time Charter Parties 2024 was created to help the shipping industry comply with upcoming decarbonization regulations. It allows charterers to choose compliance strategies and places responsibility on shipowners. Extensive industry consultations ensured practicality. BIMCO continues to develop clauses to support environmental obligations. Collaboration was key in creating this important clause.
BIMCO has launched the Ship Recycling Alliance to promote safe and environmentally friendly practices in the ship recycling industry. With the HKC set to take effect in 2025, the alliance aims to unite stakeholders and advocate for compliant recycling yards in major ship recycling countries.
BIMCO’s Documentary Committee has approved the AUTOSHIPMAN agreement to regulate remotely controlled ships in inland waterways and coastal trades. Captain Ajay Hazari of Anglo Eastern led the drafting team, noting the increasing commercial operation of such ships globally. Grant Hunter sees this as a significant step towards fully autonomous ships in the future.
BIMCO and ICS have joined forces to create a guide to help the shipping industry understand and reduce underwater radiated noise from ships. This guide aligns with IMO guidelines and aims to protect marine life and the environment. By implementing energy efficiency measures, the industry can lower noise levels.
