Following the successful revision in 2001 of the industry’s most well-known and widely used bareboat charter party, BARECON, work will shortly begin on revising BIMCO’s other bareboat charter form, BARGEHIRE 94.

This form has enjoyed tremendous success in the offshore sector and is generally felt to meet the needs of the industry. However, it has been noted that the insurance provisions of the form could benefit from being written more clearly. With this in mind it has been agreed that a restricted or “mini” revision of BARGEHIRE will be carried out. The revision will focus only on those elements of the form felt likely to benefit from a revision. The project team responsible for the drafting will ensure that the provisions of the form that users are happy with remain untouched so as not to disturb the general widespread use of the formwork on this project will begin in the early autumn and should be completed in the spring of 2008.

source: BIMCO

Tags : bareboat, BARGEHIRE, BIMCO