BIMCO discusses the complexities of regulations and contracts at Posidonia
What happened at BIMCO's seminar at Posidonia 2024
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Significant developments at the Documentary Committee Meeting on 22 March 2024
The BIMCO Documentary Committee (DC) met on 22 March 2024 in Hamburg, chaired by Nick Fell, marking a significant milestone in BIMCO's documentary work with the adoption of key projects and review of ongoing developments. Highlights include the adoption of the revised SHIPMAN and updates on ASBATAN... Please follow the link to continue reading.
Key topics discussed at BIMCO’s February Documentary Committee meeting
BIMCO’s approval body for contracts and clauses gathered on 23 February to discuss a highly topical agenda. Two contracts of affreightment and a contract for conversion work on ships were adopted. Split views on whether adopting the ETSA Clause was premature postponed the adoption of this clause.
First draft of revised SHIPMAN ready for review by Documentary Committee
The draft of the revision is now ready for a first review by BIMCO’s Documentary Committee when it meets in April.
Documentary Committee to focus on carbon clauses at February gathering
BIMCO’s approval body for contracts and clauses will meet online on 23 February. The development of a series of carbon clauses is high on the Committee’s agenda. An Emissions Trading System Allowances (ETSA) Clause for time charters is up for adoption and the Committee will also be asked to review a... Please follow the link to continue reading.
Tanker market report 22 March 2024
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BIMCO agrees that climate ambitions will not be achieved by Europe acting alone
BIMCO welcomes the recognition of the European Commission (EC) that climate change is a global issue that requires mobilisation of partners internationally.
BACKGROUND
Emission trading systems (ETS) are “cap and trade” schemes that permit the emission of greenhouse gases in exchange for allowances. Over time the quantity of allowances available to industry are reduced as an incentive to reduce emissions through increased efficiency and the use of alternative fuels... Please follow the link to continue reading.
Supply
We estimate that the crude tanker and product tanker fleet will end 2023 up 1.8% and 2.0% respectively on last year. Crude tanker growth will also remain muted in the coming few years as the order book to fleet ratio remains very low at 4.3%. Contracting of product tankers has in the meantime inc... Please follow the link to continue reading.
What’s on the agenda at the upcoming BIMCO Documentary Committee meeting in Hamburg
Explore the newest developments in BIMCO's contracts and clauses with the upcoming meeting of the BIMCO Documentary Committee in Hamburg on March 22, including discussions on updated SHIPMAN, revised Russian Oil Price Cap Scheme Clause, and insights into the industry's response to CII.
