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Andreas Fjærvoll-Larsen

EU MRV: “Offshore ships” now defined and included by the European Commission

16.12.2024

AUTOSHIPMAN – the first standard form management agreement for autonomous ships

BIMCO’s Documentary Committee has adopted the AUTOSHIPMAN form in response to the growing number of remotely controlled and eventually fully autonomous ships. The form intends to address the specific risks and responsibilities associated with remotely controlled and autonomous ships.

16.12.2024

Introducing FuelEU Maritime: Contractual implications

Much has been written about the FuelEU regulations’ impact on the shipping industry, but with just a month to go before regulations fully take effect, there will still be work to be done on contractual arrangements to ensure that they properly address the requirements of this new regime.

10.06.2024

Direct lending coming to Norway

Direct lending has so far been largely absent in the Norwegian market due to regulatory constraints. However, the regulatory landscape is about to change which will present new possibilities for non-bank lending.

10.06.2024

BIMCO publishes first standard-form quiet enjoyment letters for ship financing

Charterers are increasingly requesting to receive quiet enjoyment letters (“QELs”) from the mortgagees of chartered vessels. As there has not been any standard format for QELs, owners have often found themselves caught in the middle of protracted negotiations between the charterers and the mortgagees when QELs are requested. To meet the longstanding need for a standard format acceptable to charterers, mortgagees and owners, BIMCO published two standard form QELs on 21 February 2024.

10.06.2024

SHIPMAN 2024 – a welcome, gentle revision

Since its original introduction in 1988, the BIMCO standard ship management agreement SHIPMAN (revised in 1998 and 2009) has established itself as the global standard ship management agreement. Adopted on 22 March 2024, the new SHIPMAN 2024 represents a light touch revision of the standard form, incorporating established standalone clauses and new provisions reflecting these developments.

10.06.2024

Integrating emissions trading schemes in ship management agreements – BIMCO’s new ETS clause and mandate letter

In advance of the recent inclusion, as from January 2024, of the shipping industry in the European Union Emissions Trading System (EU ETS), BIMCO introduced a new ETS clause tailored specifically for ship management agreements.

16.05.2024

EU ETS: New Standard Template from BIMCO and Key Considerations

Following the inclusion of shipping in the EU's emissions trading system on 1 January 2024, the focus is now shifting to the practical aspects of compliance with the regulations, including monitoring, reporting, and surrendering of allowances.

10.05.2024

Norway has signed agreement which ensures international cooperation on the operation of autonomous ships

Norway has signed an agreement with the United Kingdom, Belgium, Denmark and the Netherlands to facilitate cooperation on the international operation of autonomous ships. The agreement is particularly aimed at the operation of autonomous ships in the North Sea basin, including ships for inspection and maintenance of existing and future offshore wind installations.

31.01.2024

EU ETS: New clarifications on the allocation of shipping companies to the administering authorities

On 31 January 2024 the EU Commission published their anticipated list showing which shipping companies shall be associated with the different administering authorities of the member states under the EU ETS.

15.12.2023

BIMCO Ship Sales Further Trading Clause 2023 – protecting the seller against unlawful recycling

On 11 October 2023 BIMCO adopted the Ship Sales Further Trading Clause 2023, which is designed to be included in memoranda of agreement for the sale and purchase of vessels, such as BIMCO’s Saleform and Shipsale standard form contracts. The clause is intended to provide protection for the seller against the buyer’s subsequent disposal of the vessel in contravention of any regulations related to ship recycling. It seeks to achieve this by imposing an obligation on the buyer to continue to trade the vessel within an agreed post-sale period. The clause is particularly relevant for the sale of older tonnage.

30.11.2023

Clarification on responsible entity under EU ETS (the "shipping company")

The inclusion of the shipping industry in the EU Emission Trading System as per Directive 2003/87/EC ("the EU ETS") from 1 January 2024 is now fast approaching. According to Article 3 in the said directive, it is the "shipping company" that is responsible for compliance with the EU ETS-obligations, hereunder to surrender emission allowances.

25.04.2023

EU Emissions Trading System applies for shipping as from 1 January 2024

The EU Emissions Trading System (EU ETS) has been reformed to include maritime emissions as from 1 January 2024.

11.12.2022

Contracts for Difference in Shipping: The Zero-Emissions Catalyst?

Although more typically associated with the renewables space, Contracts for Difference (CfDs) are increasingly being considered as a key part of the puzzle in achieving a zero-emissions future in the shipping sector.

11.12.2022

BIMCO completes its suite of CII, EEXI and ETS time charter clauses

BIMCO has recently published three new clauses which seek to balance Owners’ and Charterers’ respective interests under time charters in relation to the obligations imposed by the CII, EEXI and EU ETS.

17.09.2022

Green investments in ocean industries

The intersection between green investments and ocean industries continue to attract increased attention from investors, financiers and companies in search of new business opportunities.

10.07.2022

BIMCO standard form refund guarantee for shipbuilding contracts

Refund Guarantees secure repayment to the buyer of the pre-delivery instalments paid under a shipbuilding contract (an “SBC”) in the event of termination of the SBC due to builder’s default or insolvency or the total loss of the ship under construction. Having the benefit of a refund guarantee is therefore of key importance to the buyer under a shipbuilding contract.

10.07.2022

SHIPSALE 22—a familiar form in a new guise

On 21 April 2022 BIMCO released SHIPSALE 22, its new standard contract for sale/purchase of vessels.

23.05.2022

Transition-linked financing: The transition to a greener shipping industry

A group of Nordic market participants have through the Green Shipping Programme produced a new set of Guidelines for Transition-Linked Financing (TLF) supporting the transition to net zero emissions in the shipping industry by 2050.

15.11.2021

Charterparties for wind turbine installation vessels

An important part of every offshore wind project is the installation of wind turbines. Installation of modern bottom-fixed offshore wind parks require specialised turbine installation vessels (WTIVs) to perform impressive lifts in challenging conditions. Currently, there is limited number of vessels available for these projects, in particular as wind parks are developed further offshore and with larger turbines. The charters for WTIVs are often fixed a couple of years prior to the project execution and accordingly, negotiation of the charterparties for these vessels is critical for a project’s success.

26.10.2021

Marine transportation solutions and applications of hydrogen – contractual considerations for hydrogen projects and the hydrogen value chain

The hydrogen industry is undergoing rapid development, in particular due to the ever-increasing focus on reducing the carbon footprint and emissions across all businesses and industries. Hydrogen has a wide range of applications, and projects of various scales are being developed to cater for the varying local- and end-users’ needs. As a result, a variety of contractual frameworks and structures will likely emerge – both on a project-by-project basis and regarding the hydrogen value chain as a whole.

02.03.2021

BIMCO ASVTIME

BIMCO has today expanded their suite of offshore contracts by launching the new standard time charter for accommodation support vessels. Wikborg Rein participated in BIMCO's drafting committee for the form and set out an overview of its key features below.

09.12.2020

BIMCO: SHIPLEASE

September 2020 has seen the recent publication of the new “SHIPLEASE” indicative term sheet by the Baltic and International Maritime Council (BIMCO). SHIPLEASE has been drafted to provide the first set of standard terms and conditions for sale and leaseback transactions of second-hand vessels.

22.06.2020

Bareboat registration in Norway – a new initiative to retain Norway’s position as a leading maritime nation

To meet the existing and future needs of the maritime industry in Norway, the Norwegian ship registers (NIS and NOR) have finally decided to permit bareboat registration in and out of the Norwegian flag.

22.06.2020

SUPPLYTIME – new special tasks annexes

For decades, SUPPLYTIME has been the industry standard time charter for offshore support vessels. However, in recognition of its broader usage within the offshore and renewables sector as a whole, BIMCO has recently published four new annexes for special tasks that can be incorporated into this popular standard contract.

09.12.2019

Contractual options for stranded assets

The downturn in the offshore markets has clearly been deeper and longer lasting than had originally been expected following the collapse of the oil price back in 2014. This article takes a brief look at the current situation and at some of the contracting solutions that we are seeing in these markets.

31.05.2019

Readiness for the global sulphur cap - BIMCO's new IMO 2020 clauses

Most of those involved in the shipping industry will by now have a clear picture of the requirements under the IMO 2020 global sulphur cap on marine fuels. Attention has therefore turned to the steps that need to be taken to put those requirements into practice. Two clauses recently introduced by BIMCO are aimed at addressing certain contractual aspects of the IMO 2020 requirements as they apply to time charterparties.

AUTOSHIPMAN – the first ­standard form management agreement for autonomous ships

Introducing FuelEU Maritime: Contractual implications

Direct lending coming to Norway

BIMCO publishes first standard-form quiet enjoyment letters for ship financing

SHIPMAN 2024 – a welcome, gentle revision

Integrating emissions trading schemes in ship management agreements – BIMCO’s new ETS clause and mandate letter

EU ETS: New Standard Template from BIMCO and Key Considerations

Norway has signed agreement which ensures international cooperation on the operation of autonomous ships

EU ETS: New clarifications on the allocation of shipping companies to the administering authorities

BIMCO Ship Sales Further Trading Clause 2023 – protecting the seller against unlawful recycling

Clarification on responsible entity under EU ETS (the "shipping company")

EU Emissions Trading System applies for shipping as from 1 January 2024

Contracts for Difference in Shipping: The Zero-Emissions Catalyst?

BIMCO completes its suite of CII, EEXI and ETS time charter clauses

Green investments in ocean industries

BIMCO standard form refund guarantee for shipbuilding contracts

SHIPSALE 22—a familiar form in a new guise

Transition-linked financing: The transition to a greener shipping industry

Charterparties for wind turbine installation vessels

Marine transportation solutions and applications of hydrogen – contractual considerations for hydrogen projects and the hydrogen value chain

BIMCO ASVTIME

BIMCO: SHIPLEASE

Bareboat registration in Norway – a new initiative to retain Norway’s position as a leading maritime nation

SUPPLYTIME – new special tasks annexes

Contractual options for stranded assets

Readiness for the global sulphur cap - BIMCO's new IMO 2020 clauses

AUTOSHIPMAN – the first standard form management agreement for autonomous ships