BARECON 2001 (eBook)

Published Date

September 2020

BARECON 2001 (eBook)

£45.00
(Excludes any applicable taxes)

BIMCO members, please enter BIMCO as Promotional Code during checkout for 20% off.  

This booklet includes the BARECON 2001 contract and the related explanatory notes in the latest version. The explanatory notes provide some background to the thinking behind the BIMCO contract. Even though BIMCO have updates BARECON in 2017 the 2001 version of BARECON is still used in shipping around the world.

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BARECON 2001 is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance.

BIMCO is the world’s largest direct-membership organisation for shipowners, charterers, shipbrokers and agents. In total, around 59% of the world’s cargo fleet is a BIMCO member, measured by dead weight tonnes (DWT).

BIMCO is a ‘not for profit’ organisation with NGO status, headquartered in Copenhagen, Denmark, and with offices in Athens, Shanghai and Singapore.

The organisation has around 1,900 member companies across 120 countries – including large and small shipowners, shippers, oil majors, brokers, local port agents, law firms, maritime security companies and national shipowner’s associations among others. The core of the BIMCO membership is around 800 shipowner members who combined control around 83% of containership tonnage, 59% of dry bulk tonnage and 51% of tanker tonnage (all measured by DWT).

BIMCO’s goals are to secure a level playing field for the global shipping industry and to deliver practical tools, advice and guidance to its members across the main shipping sectors. BIMCO therefore works to promote and secure global standards and regulations for the maritime sector.

The organisation’s century long effort into creating standard contracts and clauses is a strong expression of that aim. BIMCO is considered the world leader in developing standard contracts and clauses in shipping.

Title: BARECON 2001 (eBook)
Number of Pages: 40
Product Code: IT103549
Published Date: September 2020
Author: BIMCO

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