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News: BIMCO adopts new standard time charter party for accommodation support vessels (ASVTIME)

27 January 2021

BIMCO has published a new standard time charter party for accommodation support vessels (ASVTIME). As highlighted in the club’s previous news item (linked in the blue box), ASVTIME aims to provide a suitable contracting framework for those companies operating accommodation support vessels in the offshore oil and gas and renewables sectors. The new contract is the first offshore contract written by BIMCO designed to specifically meet the needs of both the oil and gas sector and renewables sectors.

The charter party is based on the widely used SUPPLYTIME form and was developed with input from various interested parties including energy companies in the oil and renewables sectors, owners, lawyers and shipbrokers. The charter party provides a choice of optional services in addition to accommodation; these include the use of motion compensated gangways, cranes, offshore bunkering, and the use of daughter craft.

The new charter party was adopted by BIMCO’s Documentary Committee at its meeting held on 25 January. For more information, please refer to the BIMCO website.