BIMCO Publishes ISPS Clause

In response to industry demand for an ISPS provision suitable for voyage charters, BIMCO published on March 3 an ISPS Clause for voyage charter parties to complement the time charter version produced in November last year. The Clause addresses the allocation of costs and responsibilities relating to shipboard and shore-based security measures arising from the implementation of the ISPS Code. The ISPS Clause for Voyage Charter Parties has been drafted by the same team of legal and commercial experts that were responsible for the time charter clause to ensure a consistent approach to this important issue. BIMCO's Deputy Secretary General, Soren Larsen, said "the time charter ISPS Clause has enjoyed widespread adoption by the industry since it was published as many owners need to have wording in place to cover period charters that extended beyond the 1 July 2004 implementation date. As we have moved closer to the implementation date BIMCO has received an evergrowing number of requests to address the ISPS issue in the voyage charter party context. We have met this demand with what we believe to be a consistent, well-balanced and clearly worded clause which follows established voyage charter party principles relating to delay, costs and expenses". Copies of the BIMCO ISPS Clause for Voyage Charter Parties can be downloaded form BIMCO's web site at

www.bimco.dk.