BIMCO Yearbook: stronger together in 2025

2025 proved quite the year to take the helm of BIMCO. We celebrated our 120^th anniversary, an occasion to reflect on the strength that comes from being part of the world’s largest shipping community. We continued to grow in 2025, adding new members and extending our connections across the globe. 

There’s never been a better time to join the BIMCO community. From tariff shocks to geopolitical tensions, the shipping industry has faced a storm of challenges, and there is little sign of calm ahead. Free trade remains under pressure, geopolitical risks are high, and the international rules-based system that underpins global shipping has never been tested more than now.

Despite these challenges, it has been impressive to witness BIMCO members coming together to debate and discuss pertinent issues and to find feasible solutions, whether through our Documentary Committee and subcommittees, or by feeding into our policy positions or by providing advice to regulators. 

BIMCO’s specialists have also risen to the occasion, not only by facilitating member interaction but also by providing the technical, commercial, and legal guidance our members depend on. As CEO of Canada’s largest bulker owner, I know firsthand how vital this expertise is for navigating the complex, ever-changing trade and regulatory landscape.

This year’s trade shocks underscored for policymakers and the public that barriers to free trade – whether policies, pandemics or 220,000 tonnes of steel blocking one of the world’s busiest trade lanes – can severely disrupt global supply chains and profoundly impact people’s lives.

As President of BIMCO, I’m proud to take a business-first approach, championing shipping and seafarers not only as vital to our way of life today, but as pioneers shaping a better tomorrow.

Thank you to all our members for their valued input and expertise. We’re proud to amplify your voice and help keep global trade moving, whatever the future brings. 

Paul Pathy, 47th BIMCO President and CEO FedNav

2025 was a year when we welcomed 117 new members. Owners, agents, brokers, and other industry advisers from around the world joined the world’s largest shipping community. 

Our members had a big 2025: opening new hubs, launching new fuel ships and investing strategically for the future.

We were delighted to meet so many of you at industry events around the world, where we canvassed your views, connected with policy-makers and raised awareness of key issues facing our members.

As always, our members took advantage of our portfolio of training courses and workshops, with high participation throughout the year.

But it wasn’t all work, as we took time to connect and celebrate the successes of our shipping family.

Just as BIMCO celebrated its 120^th anniversary in May, 2025 was a year when some of our members celebrated their anniversaries too, marking 25, 50 and even 75 years as part of the BIMC0 family. Congratulations all, it’s your spirit of resilience, adaptability and success that makes shipping work.

We’re so proud to have all of you on this journey with us. Together, we keep global trade moving.

The BIMCO team covered a lot of miles in 2025, spreading the word about shipping. We visited 31 countries across four continents, from Belgium to Japan, from Chile to Singapore. As the practical voice of shipping, we represented members at the highest levels of policy-making, attended international conferences and exhibitions, and made connections across the industry.

This time last year, I described 2024 as a turbulent year for shipping. Twelve months later, and I am searching for a term that might adequately reflect the challenges that have buffeted our members in 2025. Some were a continuation of the turbulence felt last year – the risks to shipping in the Red Sea and the growing urgency of decarbonisation – while others - such as the tariffs, the USTR Notice of Action and recent regulatory shocks – added to the tumult.  

As always, the Documentary Committee was on hand to help members navigate these headwinds. In April, we approved revisions to our War Risk Clauses - BIMCO War Risk Clause for Voyage Charter Parties 2025 (VOYWAR 2025) and the BIMCO War Risk Clause for Time Charter Parties 2025 (CONWARTIME 2025) - to reflect the changing dynamics of conflicts today, most notably the war in Ukraine and the attacks on shipping in the Red Sea.

When it comes to the new political headwinds of 2025, we responded in a timely way to ensure members have the support they need in an uncertain world. In early June, a subcommittee of legal and commercial experts began urgent work on a standard clause to address the United States Trade Representative’s (USTR) Notice of Actions to impose fees on Chinese-built, owned or operated ships calling at US ports, which will significantly raise the cost of seaborne trade to and from the United States and add to regulatory challenges for the shipping industry. We worked at speed to draft and adopt the new clause by July to help members address the complex challenges posed by the USTR actions and minimise potential disputes. This was followed by urgent work to address China’s response to the USTR Notice, namely the imposition of Special Port Fees on US-related ships calling at ports in China.  The BIMCO subcommittee quickly drafted a clause to address Chinese port fees, even though such fees are reported to be suspended. Due to the rapidly evolving situation, we want to be certain that the industry has clauses ready should conditions shift again. Including such clauses in long-term charter parties will help to avoid renegotiation if new fees do arise.

Alongside these pressing geopolitical issues, we continued to address the ongoing commercial, technical and legal issues presented by decarbonisation. April’s meeting, for example, saw the adoption of the Energy Efficiency Data Sharing Clause for Time Charter Parties 2025, which constructs a balanced framework for collaboration between owners and charterers to enhance data sharing practices for performance monitoring and energy efficiency.

New fuels remain a focus. The Methanol Bunker Annex, a new optional annex to BIMCO’s Bunker Terms 2018, was adopted in October to anticipate new regulatory rules and cover the increasing importance of sustainability certification. An Ammonia Annex will follow when the timing is right, and a Biofuels Clause for Time Charter Parties is also underway.

2025 saw a continued focus on the less high profile but equally important operational side of our industry, updating key ship management clauses to ensure they are relevant and aligned with new regulatory norms. We revised our standard crew management agreements, CREWMAN A (Cost plus fee) and CREWMAN B (Lump sum), the first updates in 15 years.  Further modernisation came through our long-standing collaboration with the Association of Ship Brokers & Agents on revisions to the ASBATANKVOY charter party, originally published in 1977. The joint BIMCO/ASBA subcommittee worked closely with a wide array of stakeholders to ensure the updated version reflected the modern tanker trade, commercial practices and new regulations on safety, security and marine environment protection, including oil pollution.

Our last DC meeting of 2025 was held online in December, and we closed the year with the adoption of two further clauses and one contract.

The FuelEU Maritime Clause and ETS Clause for Memoranda of Agreement (MoAs) 2025 were both adopted and will address obligations under the EU FuelEU Maritime Regulation and Emissions Trading Schemes (ETS) in sale and purchase transactions, ensuring transparency and alignment with regulatory requirements.

The revised standard agreement for supervision services during vessel construction SUPERMAN was also adopted. Updates reflect recent changes in SHIPMAN and CREWMAN contracts and incorporate industry best practices. 

As 2025 draws to a close, we remain vigilant of the continued challenges facing our industry and are adopting processes to ensure we can work with the urgency a complex and volatile world demands. From environmental regulation to geopolitical risk, BIMCO’s Documentary Committee is constantly scanning the horizon and ensuring our portfolio of clauses is fit for purpose – whatever the year ahead may bring.

Nick Fell, Chair, BIMCO Documentary Committee

In a world in which safety, security and environmental matters are increasingly interlinked, it makes sense for BIMCO to take a holistic view in order to provide the best possible guidance to the BIMCO Board of Directors and our members. 

In May, Carlo Cameli concluded his tenure as the long-serving chairperson of the MSSC, and Panos Zachariadis stepped down as acting chairperson of the MEC. Both provided exemplary leadership to their respective committees, and I am honoured to have been elected as chairperson of both the MSSC and MEC at BIMCO’s General Meeting in May 2025.

In October, both committees convened consecutively over two days for the first time. This new format proved highly effective, offering significant insights and valuable discussions that BIMCO can leverage in its ongoing engagement with IGOs and NGOs involved with the regulatory workings that govern our industry.

2025 has been a year where geopolitical tensions and conflict feed into the day-to-day realities of our members. The Red Sea conflict zone remained high on the agenda, along with the increased US pressure on the Houthis, and we continued to monitor the war in Ukraine. An area of concern is the unfair treatment of innocent seafarers held responsible for drugs placed on board their ships. In certain countries, the prison sentences have been as high as 30 years. BIMCO is actively engaging with stakeholders around the world on this issue as well as providing guidance and support to members.

On the human element, a top priority is supporting maritime workforce sustainability by engaging with IMO, ILO and industry partners on advancing practical and effective human element policies: seafarer welfare, fair treatment, safe crewing, human-centred design and future-ready skills. This is particularly important with alternative fuels, which continue to dominate industry discussions. While questions around price, infrastructure and certification remain central, our committees have emphasised the equally critical need to establish a training programme and safety culture to ensure future availability of crew trained for a specific fuel. On the digitalisation front, BIMCO is involved with the development of a standardised data model for electronic seafarers’ certificates for inclusion in the IMO Compendium.

Cyber risk remains a constant concern. High-profile cyberattacks in other industries serve as a stark reminder of vulnerabilities in our own. Our committee continues to stress the importance of robust, tailored risk assessments, urging members not to adopt a one-size-fits-all approach to cybersecurity preparedness.

On the Marine Environment Committee agenda, there are a number of pressing issues: short-term GHG measures, Fuel EU Maritime, ship recycling, marine plastic pollution and the transportation of plastic pellets, biofouling management, underwater radiated noise and ballast water management.

Since the IMO Hong Kong Convention (HKC) on ship recycling entered into force on 26 June 2025, BIMCO has been actively working towards obtaining more legal certainty on the co-existence of both UN Conventions: HKC and Basel Convention (BC). The BIMCO Ship recycling alliance, formed last year to bring together ship owners, cash buyers and recycling yards, is playing an important role.

When it comes to global regulation, the specialists within the BIMCO secretariat monitor and actively contribute to the complex discussions at the highest international policy-making forums, including the International Maritime Organization and the European Union plus the US and Far East. We provide policymakers with important industry insights to help ensure that resulting regulation is fair, effective and practically implementable. The role of BIMCO’s marine committees is paramount to providing input and support to the regulatory team.

BIMCO’s technical expertise and knowledge of the regulatory landscape helps support and feed into other areas of work – such as contractual affairs - as well as provide members with updates, explanations, practical tools and training courses about regulatory matters and developments. A good example is the content we recently published which aims to help reduce collisions with marine mammals.

BIMCO members can now access online resources which include the whale species of each region, best practices in reporting and how to receive sighting alerts, as well as updated mandatory and voluntary global measures, voyage planning tools and general advice.

We’re constantly horizon-scanning to anticipate evolving regulatory rules that will impact our members and provide them with up-to-date and relevant guidance on the latest developments. Over the last year, this has been more important than ever. As we look ahead to 2026, our committees remain united in their commitment to help members prepare for whatever security, safety or environmental challenges lie ahead.

Bjorn Hojgaard, Chair of BIMCO’s Maritime Safety & Security Committee (MSSC) and Marine Environment Committee (MEC)

2025 was a busy year for everyone in shipping, and BIMCO was very active on your behalf. But how much do you really know about us?

Test your knowhow in the BIMCO Quiz – just for fun!

2025 has tested our industry in new and unexpected ways — from the USTR measures against Chinese shipping and the global tariff disputes to the recent implosion of the IMO’s long-debated Net Zero Framework . Nothing captured this uncertainty better than the findings of BIMCO’s President’s Forum, published in April, where the theme “Uncertainty – the new normal” rang loud and clear. Members predicted that the cost of labour, trade protectionism, and industry consolidation would significantly shape shipping over the next two years- a forecast now being borne out by events.

I have been heartened by the words of our new President, Paul Pathy, who, at BIMCO’s 120th anniversary in May, reminded us of the resilience of shipping, which has weathered two global pandemics, two world wars and numerous conflicts, economic crises and trade wars. This is an industry that counts not in four-year-terms but in decades, that is by its nature resilient and resourceful, and understands that every crisis is also an opportunity for those who can innovate and adapt.

We’re here to help, standing shoulder to shoulder with our members in these testing times. We continue to support seafarers and shipowners during times of conflict and geopolitical tension, and urge all members to take a cautious approach to their individual risk assessments. Amid the shock of the USTR Notice of Action, a BIMCO subcommittee of legal and commercial experts quickly got to work, expediting a clause to address contractual uncertainties and help minimise disputes.  In October, this subcommittee initiated a project to address China’s port fees on US-related ships.

When it comes to decarbonisation, we recognise the importance for shipping to meet its international obligations and to operate sustainably. With a diverse global membership, however, we recognise there are many different views on the best ways to achieve this. Following the MEPC’s decision to delay the IMO Net Zero Framework, we will continue to support the global regulators and the inter-governmental process, providing policy makers with practical and impartial technical advice. Our regulatory team is ready to assist members in understanding their obligations and help with the commercial implementation of regulations.

BIMCO is not a political organisation, but one founded to promote the interests of its members and to amplify their voice at the highest levels to ensure regulations are fair, practical and effective. From decarbonisation to ship recycling, from seafarer wellbeing to anti-piracy measures, our voice is that of our members, who make up the world’s largest shipping community. We’re the practical voice of shipping – but we’re good listeners too so I encourage all members to engage with us, whether it’s attending workshops, regional events or joining one of our many committees and subcommittees. All are welcome and I hope to meet as many of you as possible in 2026.

Thank you for all your support in 2025 – our industry moves the world, and the whole BIMCO team is proud to support you.

David Loosley, BIMCO Secretary General and CEO