Global shipping faces heightened risks in the Persian Gulf, Gulf of Oman, Southern Red Sea, and Indian Ocean. BIMCO has issued guidance urging shipowners and charterers to review their charter party agreements amid escalating security concerns.
The advisory highlights key clauses, including VOYWAR 2025 for voyage charters, CONWARTIME 2025 for time charters, and the BIMCO Force Majeure Clause 2022. These clauses give owners rights to refuse or adjust voyages if vessels, cargo, or crew face war risks. They also define how costs, delays, and deviations are handled.
BIMCO stresses that each charter party must be reviewed individually. Owners and charterers should assess risks, monitor intelligence, and document decisions. The guidance also recommends consulting P&I Clubs, insurers, and legal counsel to ensure compliance.
The release warns that rising security incidents do not automatically trigger force majeure. Operators must evaluate whether circumstances meet the strict criteria for excusing performance.
BIMCO emphasized that these clauses work together, and their combined effect determines operational obligations. The organization will continue monitoring developments and issue updates as the situation evolves.
Shipping companies operating in the region are advised to act now, review contracts, and take precautions to protect crew, vessels, and cargo.
