Shipping | SHIPMAN 2024

The standard contract within the industry for ship management services, SHIPMAN from BIMCO, has been updated from SHIPMAN 2009 to SHIPMAN 2024. This follows a comprehensive two-year review that involved contributions from shipowners, managers, P&I Clubs and specialists in insurance and law.

This standard contract from BIMCO, which can cover crew, technical and commercial management, has been updated for the first time since 2009. The new edition incorporates significant advancements in ship management practices and includes numerous standard clauses to minimize the necessity for additional rider clauses.

SHIPMAN 2024 is not a new innovation as such, as it is structured in the same way as SHIPMAN 2009 and contains largely the same regulations. However, SHIPMAN 2024 mirrors the latest geopolitical shifts, international regulatory changes, and essential enhancements in the routine operations of ship management that owners entrust to their managers.

Key updates in SHIPMAN 2024 address important topics such as emission trading schemes, sanctions, cyber security and anti-corruption measures. It also takes into account the manager’s entitlement to engage affiliates and outlines predelivery costs and fees. Access to and ownership of ship data is also addressed, which is an increasingly important topic. A standard provision for termination upon change of control has also been added.

Additionally, a standard clause addressing the EU Emission Trading System obligations as per Commission Regulation (EU) 2023/2599 will be developed and is expected to be published in May.

BIMCO has further announced that they will shortly finalise and publish the first ship management contract for autonomous ships, AUTOSHIPMAN, which will be based on SHIPMAN 2024.

The contract and explanatory notes are available here: SHIPMAN 2024 available for use (bimco.org).