Tag: BIMCO

The shipping industry has welcomed the increasing momentum for a USD 5 billion R&D Fund for shipping. However, it is urging governments to act in line with their climate commitments.

With discussions at the IMO MEPC meeting on sea-based sources of marine plastic delayed until the end of the year, BIMCO is focusing on how to reduce plastic footprint.

BIMCO announced that its Documentary Committee has adopted a clearly worded standalone refund guarantee to assist parties in their shipbuilding projects. The refund guarantee aims to safeguard against the risk of the shipyard defaulting or becoming insolvent before the ship is delivered. 

Standardising and harmonising electronic ship to shore communication for reporting purposes was high on the agenda at the IMO’s virtual Facilitation Committee.

BIMCO’s Documentary Committee has adopted a standard electronic signature clause that allows parties to safely use electronic signatures in their contractual arrangements.

Following an ICS call earlier this week, a first-ever meeting of high-level maritime bodies agreed that more investment is needed from governments and shipping to develop the technologies for a greener industry.

IMO has called on all shipping stakeholders to provide input to the Experience Building Phase (EBP) designed to see just how the BWM Convention is working. BIMCO informs that shipowners can now submit such data directly to the World Maritime University. 

As part of a major initiative to accelerate digitalization in the shipping industry, BIMCO revealed plans to develop an electronic bill of lading standard for the dry and liquid bulk sectors.

Total orders of dry bulk, tanker, and container ships have jumped 119.7% in the first five months of the year compared with the same period in 2020, according to BIMCO.

BIMCO is starting preparing charter party clauses to help operators comply with complex new carbon regulations due to come into force in 2023.