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This booklet includes a sample copy of the NEWBUILDCON contract and the related explanatory notes in the latest version. The explanatory notes provide some background to the thinking behind the BIMCO contract.

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In NEWBUILDCON BIMCO seeks to establish a standard shipbuilding contract. The objective of developing a BIMCO Standard Shipbuilding Contract is to provide builders and buyers with a choice of contract to those currently in use. At present most buyers are obliged to rely of the shipbuilding contract produced by the shipyards. The BIMCO Contract offers the parties a modern, clearly worded, balanced and comprehensive shipbuilding contract. The parties can decide which contract will best suit their needs – the yard contract or the BIMCO contract. In its simplest form the BIMCO Contract provides both parties with an ideal checklist to ensure that whatever final agreement is reached with a yard contains the essential key provisions required in any shipbuilding contract. 


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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: NEWBUILDCON (eBook)
Number of Volumes: 1
Edition: First
Number of Pages: 66
Product Code: IT103497
Published Date:
Author: BIMCO

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