BIMCO is seeking maritime industry feedback on whether existing charter party frameworks adequately address disruptions affecting ships in the Persian Gulf.
Hostilities that began in late February 2026 led to a sharp decline in vessel traffic through the Strait of Hormuz. BIMCO said many ships already inside the Gulf have remained unable to leave safely.
The disruption extends beyond restrictions on physical navigation caused by naval mines. Shipowners and masters have also faced missile and drone threats, navigation system interference and uncertainty over security arrangements for transiting the area.
Insurance and charter party challenges
The insurance situation has created further difficulties for vessels inside the Gulf.
Owners may need to renew or replace insurance cover at substantially higher costs. In some cases, they may not be able to secure adequate cover for an intended transit.
BIMCO identified several charter party issues that may arise from the disruption, including:
- Owners’ rights to refuse orders
- Safe port and safe route obligations
- Alternative vessel employment
- Force majeure clauses
- Deviation and delay
- Off-hire
- Redelivery
- Responsibility for additional war risk premiums
- Allocation of other associated costs
The situation has tested contractual frameworks under rapidly changing trading and security conditions.
BIMCO said vessel and crew safety must remain the main consideration. However, the experience of ships restricted inside the Gulf has also highlighted the need for clear and commercially balanced charter party terms.
BIMCO reviews contractual framework
Some disputes may eventually proceed to arbitration or court. Other parties may resolve their differences through dialogue, contract adjustments and commercial agreements.
BIMCO is now assessing whether existing contractual frameworks have responded effectively to the conditions experienced in the Gulf.
The organisation said it would not comment on individual disputes or specifically negotiated clauses. Instead, it aims to identify whether the current framework has created gaps, uncertainty or unintended consequences.
Industry feedback will help BIMCO decide whether existing contracts provide sufficient clarity and an appropriate allocation of commercial risks and costs.
BIMCO will also discuss the issue at its next Documentary Committee meeting in early October 2026.
