Shipping | ASVTIME – New time charter party for offshore oil, gas and renewables

BIMCO has published a new standard time charter party for accommodation support vessels specifically developed for the offshore oil, gas and renewables sectors. The charter party is based on SUPPLYTIME 2017 – the widely used standard time charter party for offshore support vessels. Several features from WINDTIME – the standard offshore windfarm personnel transfer and support vessel charter party – have also been incorporated.

ASVTIME covers standard accommodation services as well as other facilities available for charterers (hospital, recreation, fitness, office etc). In addition, the charter contract contemplates the possibility of the following optional equipment: (i) gangway, (ii) cranes, (iii) offshore bunkering system and (iv) daughter craft.

The charter contract further contemplates that the parties may agree for the vessel to be used for ROV operations and as a diving platform, as well as for parallel operations (gangway, crane and offshore bunkering system to be operating in parallel).

The vessel is described in Annex A to the charter contract. The charterers have the option, at their expense, of making structural alterations to the vessel or installing additional equipment.

Several standard provisions that are familiar from both SUPPLYTIME 2017 and WINDTIME are included in the contract, such as provisions dealing with (i) charter period, (ii) delivery and redelivery, (iii) conditions of the vessel, (iv) hire and payment and (v) liabilities (knock for knock) and indemnities.

The standard contract has a separate clause dealing with extended offshore operations and the transportation of owners’ personnel as well as responsibility for fuel, water, lube oil, stores, provisions and spare parts.

Offshore bunkering of crew transfer vessels is also regulated by a separate provision in the standard contract.

We expect this new standard contract to be relevant for many industry players, and in particular in the current offshore wind sector market, including offshore wind service vessels (SOVs / CSOVs) and walk-to-work (W2Ws) vessels.

Do not hesitate to contact any of BAHR’s shipping team members for further information.