Upcoming Contracts and Clauses
The ASBATANKVOY charter party is widely used in the tanker trade but has not been updated since 1977. BIMCO is working together with the Association of Shipbrokers and Agents (ASBA) in New York to refresh and modernise this popular form.
Expected publication date: 2025
This project aims to develop a time charter party tailored for seaborne carriage of carbon dioxide (CO2). While it is possible to employ existing charter parties for such contractual agreements, the unique and challenging conditions and potential liabilities associated with CO2 carriage and storage warrant the development of a dedicated charter party contract specifically addressing the needs of shipowners and charterers involved in transport of CO2.
Expected publication date: 2025
This project aims to develop a comprehensive "Energy Efficiency Data Sharing Clause" for the maritime industry. This initiative seeks to enhance vessel efficiency, through the structured exchange of data and the establishment of (technical) performance benchmarks empowering the efficient operations of vessels by reducing fuel consumption, emissions, and maintenance costs.
Expected publication date: 2025
A revision of HEAVYLIFTVOY, BIMCO’s standard voyage charter party for the mid-sized heavy lift sector carrying specialist cargo published in 2009, commenced in Q3 2024.
Expected publication date: 2025
These terms will be produced as an additional Annex to complement the existing BIMCO Bunker Terms 2018, also considering whether a clause addressing the use of dual fuel as an interim solution in the transition towards alternative fuels.
Expected publication date: 2025
This project aims to review and update the existing contract RECYCLECON based on the 2009 Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships entering into force on 26 June 2025 following the ratification of the convention by Liberia and Bangladesh.
Expected publication date: 2025
This project aims to develop a “Retrofitting Cost/Benefit Clause” for the maritime industry, focusing on enhancing energy efficiency, reducing environmental impact, and improving overall vessel performance. The clause is intended to contain a cost-benefit sharing scheme, aiming to incentivise both owners and charterers to invest in retrofit projects.
Expected publication date: 2025
WINDSEACON is a BIMCO initiative to create a standard time charter party for the transport and installation of wind turbines in offshore wind farms. The project aims to address the unique challenges and needs of the offshore wind industry, which is growing rapidly as a result of the global demand for more renewable sources of energy and the need for decarbonisation.
Expected publication date: 2025
Following the publication of WRECKSTAGE 2024, the revision of the other standard contracts in the suite of BIMCO wreck removal agreements, WRECKHIRE 2010 and WRECKFIXED 2010, commenced in Q3 2024.
Expected publication date: 2025