International shipping association BIMCO on Thursday (19 February) said its Documentary Committee (DC) will meet online on 25 February 2026 to consider several significant contractual developments, including a new Biofuel Clause for Time Charter Parties, a new ETS – BARECON Emission Trading Scheme Allowances Clause, and an updated version of the Norwegian Sale Form (NSF).
These projects have undergone extensive review and are now being presented for adoption.
Biofuel Clause for Time Charter Parties
The Biofuel Clause has been refined through multiple subcommittee meetings to address both DC and industry comments. The clause sets out defined fuel standards aligned with ISO requirements and outlines practical procedures for sampling, testing, storage and handling. It also introduces mechanisms for fair speed and performance warranties’ adjustments when using biofuels. Operational certainty is strengthened through notice requirements, tank‑readiness provisions, and safeguards on segregation, commingling and storage life. The clause supports safe and commercially balanced integration of biofuels, aligning contractual practice with decarbonisation ambitions.
ETS – BARECON Emission Trading Scheme Allowances Clause
The Emission Trading Scheme Allowances Clause for BARECON offers a flexible framework to allocate emission compliance responsibilities under bareboat charter agreements. Designed for use with BARECON 2017 and usable for the EU ETS and similar schemes, the clause allows parties to elect whether owners or charterers – or their nominated ship managers – take on ETS obligations, with charterers set as the default. It also emphasises cooperation, information-sharing and clear cost allocation giving stakeholders a practical but adaptable structure that can evolve as regulatory requirements and industry practice develop.
SALEFORM
The revision of SALEFORM aims at modernising the agreement and improving clarity across key operational and financial provisions. Updates include refined deposit and payment mechanisms, clearer allocation of parties’ obligations and termination rights and improved rules on inspections, delivery and NOR procedures. The form incorporates updated compliance clauses on anti‑bribery, sanctions, and confidentiality, together with the BIMCO ETS and FuelEU Maritime Clauses for MoAs. The revised SALEFORM aims to reduce ambiguity and support efficient sale‑and‑purchase negotiations.
Photo credit: BIMCO
Published: 23 February, 2026
