BIMCO moves to break ship retrofit cost deadlock

AI Summary

BIMCO has approved a contractual addendum intended to resolve disputes over who pays for ship energy-saving retrofits when charterers capture much of the financial benefit. The framework is designed to clarify cost allocation between shipowners and charterers.

Shipping association BIMCO has adopted a new contractual framework designed to settle one of the industry’s longstanding commercial disputes: who pays for energy-saving upgrades when the charterer receives much of the financial benefit. The Copenhagen-based organisation announced that its Documentary Committee had approved the Energy Saving Device Retrofit Addendum 2026, giving shipowners and charterers a …