HEAVYCON 2007 addresses vessel delay through cancellation and liability provisions. Its demurrage rate does not automatically entitle charterers to an equivalent payment when a ship is late.
BIMCO said the global shipping orderbook reached 191.0m cgt at the end of the first quarter of 2026, equal to 17% of the world fleet and the highest ratio since 2011. First-quarter contracting rose 40% year-on-year, led by tanker orders and a rebound in LNG tanker contracting, while yard lead times and engine supply constraints remained key issues.
BIMCO reports that Suez Canal traffic in the first week of 2026 was only about 40% of the 2023 level, roughly 100 days after the last Houthi attack, with container ship transits still down 86% in late 2025.
A coalition of shipping associations including BIMCO, ICS, INTERCARGO and INTERTANKO has released an updated MISTO, reflecting current security risks in the Red Sea, Gulf of Aden and Northwest Indian Ocean.
BIMCO is preparing a standard clause in response to China’s new “Special Port Fees” applicable to vessels with U.S. links, aiming to reduce contractual risk for the shipping industry.
