BIMCO has issued two new standard contracts of affreightment (COA) for dry bulk cargoes – one that can be used with different voyage charter parties and another that includes all terms and provisions usually found in a COA.
The new forms, GENCOA A and B, are intended to be used for dry bulk shipments either as a framework contract with different voyage charter parties for different trades (GENCOA A) or as an “all in one” contract that includes all terms and provisions usually found in a COA (GENCOA B).
“By providing two versions of the form, we are making it easy for users to pick the one that matches their commercial needs,” says Inga Frøysa of Torvald Klaveness, who led the drafting team developing the two new standards.
GENCOA A and B include several standard BIMCO clauses including the Anti-Corruption Clause and the Sanctions Clause. The BIMCO Force Majeure Clause 2022 has also been added with the inclusion of the additional subclauses clarifying the position with respect to laytime/demurrage as well as what should happen if cargo has been loaded on a ship.
“The forms have been drafted as easy-to-use standards reflecting current market practice by taking into account developments in the industry over nearly two decades as well as the political, regulatory and commercial environment faced by the industry,” says Frøysa.
The drafting team also consisted of Capt. Lin Huoping (COSCO Shipping Bulk Co.), Peri Ertugruloglu (Viterra), Mike Queally (ADM), Sasha Patel (Steamship Mutual) and Fulvio Carlini (FONASBA).
The new forms replace the original GENCOA form from 2004 which was published as an “umbrella” agreement with the intention that a voyage charter party should be issued for each voyage.
In addition to optional annexes on ports and rates (Annex A) and requirements for nominated vessels (Annex B), found in both revised versions, GENCOA A includes an Annex C enabling the parties to include the applicable charter party.
BIMCO stands for the Baltic and International Maritime Council. It is a non-profit international organization that represents shipowners, operators, brokers, and agents from all over the world. BIMCO's main objective is to facilitate and support the commercial interests of its members by providing standard contracts, clauses, and other documents that are widely used in the shipping industry.
BIMCO was founded in 1905 and is headquartered in Denmark, with offices in Singapore, Shanghai, Athens, and Oslo. The organization has more than 2,000 members from over 120 countries and is committed to promoting fair and open shipping markets, sustainable shipping practices, and the well-being of the shipping industry as a whole. BIMCO also provides educational and training programs, research, and analysis to support its members in their business activities.
As an international shipping association, BIMCO has several responsibilities and roles in the maritime industry. Some of these responsibilities include:
Developing standard contracts: BIMCO is responsible for creating standard contracts, clauses, and other documents that are widely used in the shipping industry. These contracts cover various aspects of shipping, such as chartering, sale and purchase, and ship management.
Advocacy: BIMCO represents the interests of its members by advocating for fair and open shipping markets and promoting policies that support sustainable shipping practices.
Education and training: BIMCO provides educational and training programs for its members to enhance their skills and knowledge in the shipping industry.
Research and analysis: BIMCO conducts research and analysis on various aspects of the shipping industry to provide its members with valuable insights and data.
Collaboration: BIMCO collaborates with other organizations in the shipping industry to promote best practices, share information, and drive innovation.
Overall, BIMCO plays a critical role in promoting the interests of its members and advancing the shipping industry as a whole.
BIMCO Crewman A and B are two standard contracts for the employment of seafarers in international shipping. The main difference between the two contracts is the type of seafarers they are intended for.
BIMCO Crewman A is a standard contract for the employment of able seafarers. Able seafarers are experienced seafarers who have the necessary skills and qualifications to perform a wide range of duties onboard a vessel, including navigation, maintenance, and cargo handling.
BIMCO Crewman B, on the other hand, is a standard contract for the employment of ordinary seafarers. Ordinary seafarers are less experienced than able seafarers and are generally responsible for routine tasks such as cleaning, painting, and assisting with cargo operations.
Both contracts cover a range of issues related to employment, including wages, working hours, leave entitlements, and repatriation. They are designed to provide a standardized framework for the employment of seafarers and help ensure fair and safe working conditions onboard ships.