News: BIMCO's ASVTIME moves closer to completion

A subcommittee of the BIMCO Documentary Committee is currently working on a standard time charter party for accommodation support vessels (ASVTIME).

The new contract, which is based on BIMCO SUPPLYTIME 2017, will aim to provide a suitable contracting framework for those companies operating accommodation support vessels in the offshore oil and gas and renewables sectors.

Some of the clauses in ASVTIME are taken from BIMCO’s WINDTIME, a time charter party form for the transfer of wind farm personnel and equipment to and from offshore wind farm installations. For more information on WINDTIME, please see the club’s previous article​. Other clauses for ASVTIME have been developed specifically for the new form. The subcommittee say that ASVTIME will feature more elaborate provisions on issues such as accommodation and catering, while introducing new provisions relating to gangway, crane, offshore bunkering and parallel operations.

The subcommittee will continue its work on the form including collaborating with industry stakeholders for their feedback. It is expected that it will be presented for adoption by BIMCO’s Documentary Committee at its next meeting on 22 September 2020.  For more information, please refer to the BIMCO website.

Category: Offshore & Renewables