The Documentary Committee (DC) of BIMCO is set to meet online on 25 February 2026 to consider the adoption of several significant contractual developments, including a new Biofuel Clause for Time Charter Parties, an ETS – BARECON Emission Trading Scheme Allowances Clause, and a revised version of the Norwegian Sale Form (NSF).
These projects have undergone extensive industry consultation and subcommittee review and are now being presented for formal adoption.
Biofuel Clause for Time Charter Parties
The proposed Biofuel Clause has been refined through multiple rounds of discussions, incorporating feedback from both the Documentary Committee and industry stakeholders.
The clause establishes defined fuel standards aligned with ISO requirements and sets out detailed procedures covering sampling, testing, storage and handling of biofuels. It also introduces mechanisms to ensure fair adjustments to speed and performance warranties when biofuels are used.
To enhance operational certainty, the clause includes notice requirements, tank-readiness provisions, and safeguards relating to segregation, commingling and storage life. The framework is designed to support the safe and commercially balanced integration of biofuels into time charter arrangements, aligning contractual practice with the industry’s decarbonisation objectives.
ETS – BARECON Emission Trading Scheme Allowances Clause
The new Emission Trading Scheme Allowances Clause is tailored for use with BARECON 2017 and is structured to address compliance under the EU ETS and similar regulatory regimes.
The clause provides flexibility for parties to allocate emission compliance responsibilities under bareboat charter agreements. While charterers are designated as the default responsible party, owners, charterers, or their nominated ship managers may assume ETS obligations, depending on the parties’ election.
It further emphasises cooperation, information-sharing and transparent cost allocation, offering stakeholders a practical and adaptable framework capable of evolving alongside regulatory and industry developments.
Revised SALEFORM
The updated SALEFORM represents a comprehensive modernisation of the widely used ship sale and purchase agreement. The revision enhances clarity across operational and financial provisions, including refined deposit and payment mechanisms, clearer allocation of obligations and termination rights, and improved procedures relating to inspections, delivery and Notice of Readiness (NOR).
The revised form also incorporates updated compliance clauses covering anti-bribery, sanctions and confidentiality, alongside the inclusion of BIMCO’s ETS and FuelEU Maritime Clauses for memoranda of agreement (MoAs).
Collectively, the proposed updates reflect BIMCO’s ongoing efforts to ensure that standard contracts remain aligned with regulatory change, operational realities and the maritime sector’s transition towards decarbonisation.