Explanatory Notes
BIMCO members have access to the supporting explanatory notes.
SHIPLEASE is a standardised term sheet intended for use in ship sale and leaseback transactions.
The term sheet has been principally developed for sale and leaseback transactions involving second-hand ships, but it can be readily adapted to fit structures involving newbuildings or vessels that are undergoing major refit. It is suitable for use for both operating and finance leases, although it may need to be adjusted as appropriate. The latest edition of this contract is SHIPLEASE, issued in 2020.