New BIMCO contracts tackle ship recycling and energy-saving retrofits

BIMCO has introduced two new contract solutions to address key operational and regulatory issues: the updated RECYCLECON agreement and the Energy Saving Device Retrofit Addendum 2026. The Documentary Committee approved these contracts during their meeting on October 8th, providing a modern framework for the sale of ships for responsible recycling, in line with the Hong Kong Convention, and a flexible structure for incorporating energy-saving equipment during charter periods.

Additionally, the committee considered a proposed EU Tanker Sale and Resale Restrictions Clause to navigate the increasing frequency and complexity of sanctions affecting tanker sales. They also discussed a proposed Carriage of Electric Vehicles Clause, reflecting the growing presence of electric vehicles in maritime transport and the need for corresponding safety, operational, and commercial considerations.

BIMCO is also updating the HEAVYLIFTVOY charter for mid-sized heavy-lift cargo, focusing on loading, discharge, laytime, detention, and waiting time. The revision aims to provide enhanced flexibility and efficiency for this specialized sector.

In alignment with digitalization efforts, the committee examined the Electronic Bills of Lading Clause 2014 revision. The updated clause aims to align with current legislation and market practices while accommodating the increasing use of electronic bills of lading and future technological advancements.

Furthermore, plans are underway for the first dedicated BIMCO contract focused on offshore wind installation, WINDSEACON. As the offshore wind sector has traditionally relied on a combination of construction contracts and modified offshore charter forms, WINDSEACON is designed to offer a balanced, commercially practical framework tailored to offshore wind projects. This standard contract aims to streamline negotiations, clarify risk allocation, and support ongoing investment in renewable energy infrastructure.