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BIMCO unveils new standard time charter party for support vessels

BIMCO unveils new standard time charter party for support vessels

A new standard time charter party for accommodation service vessels was released by BIMCO.

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ASVTIME aims to provide an effective contracting system for those companies operating accommodation support vessels in the offshore oil and gas and renewables sectors, as highlighted in the club's previous news article.

The new contract is BIMCO's first offshore contract built explicitly to address the needs of both the oil and gas and renewable energy sectors.

Based on the widely used SUPPLYTIME form, the charter party was formed with input from various stakeholders, including oil and renewable energy firms, owners, lawyers and shipbrokers.

Besides lodging, the charter party offers a choice of optional services; these include the use of motion-compensated gangways, cranes, offshore bunkering, and the use of daughter craft.

Maritime Business World 

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