BIMCO and the Association of Ship Brokers & Agents (USA) Inc. (ASBA) have revised ASBATANKVOY, the only dedicated tanker form not associated with an oil major. The updated version of the voyage
BIMCO and the Association of Ship Brokers & Agents (USA) Inc. (ASBA) have revised ASBATANKVOY, the only dedicated tanker form not associated with an oil major. The updated version of the voyage charter party addresses changes in the tanker trade, commercial practices and regulations since its last revision.
The original edition of ASBATANKVOY has become outdated since it was published by ASBA in 1977. Since then, various aspects of modern tanker trade have changed along with the regulatory framework such as safety, security and marine environment protection, including oil pollution.
“The 2025 edition brings the form up to date with modern tanker trade. Throughout the process of updating the form, the joint BIMCO/ASBA subcommittee has worked closely with a wide representation of the tanker industry, including COSCO and Chevron. The result is the product of consultations with many stakeholders who have advised the subcommittee on what the industry needs,” says Stephen Harper, Head of Legal - Shipping at BW Group and BIMCO Co-chair of the subcommittee.
Several provisions have been inserted or updated to the 1977 version with the aim of providing an updated form which still resembles the original, as requested by respondents in the initial consultation process.
The
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