Practical frameworks for recycling and retrofits

At its online meeting on 8 October, our Documentary Committee adopted the revised RECYCLECON contract. It gives you a modern contractual framework for the sale of ships for safe and environmentally sound recycling, reflecting the requirements and principles of the Hong Kong Convention. It also updates the commercial and documentary arrangements between sellers, buyers and recycling facilities.

The revision comes at an important time, as so many ships are expected to reach the end of their operational lives in the coming years.

The committee also adopted the Energy Saving Device Retrofit Addendum 2026. If you own or charter ships, the addendum gives you a flexible framework for agreeing how to allocate the costs, time and benefits involved in fitting energy-saving equipment during a time charter.

Responding to sanctions and electric vehicle risks

The committee discussed a proposed EU Tanker Sale and Resale Restrictions Clause in response to EU sanctions affecting tanker sales. As sanctions become more frequent and complex, we are working to provide clauses that turn regulatory requirements into practical, balanced contractual provisions you can use.

It also considered the proposed Clause for the Carriage of Electric Vehicles. This work reflects the growing number of new and used electric vehicles carried by sea, as well as the increased focus on the related safety, operational and commercial considerations.

Modernising the heavy-lift framework

We are continuing to revise HEAVYLIFTVOY, our voyage charter party for the mid-sized heavy-lift sector. The form is relevant if you carry specialist or project cargo on or under deck, particularly in the lift-on/lift-off and roll-on/roll-off markets.

The revision is focusing on loading and discharge, notice of readiness, laytime, detention and waiting time. We are also revising the accompanying bill of lading and developing a new sea waybill to give you greater flexibility.

Supporting digital trade and more efficient voyages

Digitalisation remains central to our work. The committee reviewed the revision of the Electronic Bills of Lading Clause 2014, building on our efforts to help the industry move away from paper documentation. The revised clause is intended to reflect current legislation and market practice, support the growing use of electronic bills of lading and remain flexible enough for further technological development, including interoperability between electronic systems.

Digital tools can also support more efficient vessel operations. Our proposed Just in Time Arrival and Virtual Notice of Readiness Clause will allow owners and charterers to agree speed adjustments so that a vessel meets an agreed arrival time. For ports supporting the approach, the intention is that a vessel will be able to tender virtual notice of readiness before reaching the contractual loading or discharging place.

Together, these mechanisms are intended to improve voyage and arrival planning, reduce unnecessary waiting at or near ports, and create opportunities to save fuel and reduce emissions. All while maintaining a practical and balanced allocation of contractual rights and obligations.

Developing the first dedicated offshore wind installation contract

Work is also progressing on WINDSEACON, the first dedicated BIMCO standard contract for the transport and installation of offshore wind turbines.

The offshore wind market has often relied on a mixture of construction contracts and amended offshore charter forms, which can lead to lengthy negotiations and contractual uncertainty.

WINDSEACON is intended to give you a balanced and commercially practical framework tailored to offshore wind projects. It aims to improve efficiency, reduce transaction costs, clarify risk allocation and support continued investment in renewable energy infrastructure.

Our dedicated subcommittee is meeting regularly throughout 2026 to refine the draft and address the complex commercial, operational and risk-allocation issues involved in transporting and installing offshore wind turbines.