The Sea Traffic Management Clause for Voyage Charter Parties enables a contractual arrangement on implementation of STM and helps charterer and ship-owner agreeing on how to split benefits coming from optimized speed when port calls are better synchronized.
Tomasz Krzyński from the STM Validation project has been responsible of providing the background material and answering questions from the subcommittee in the drafting process. “I find it encouraging that the industry sees possibilities and benefits that digitalization brings. BIMCO and its Documentary Committee is a member organization, thus the result is practical and usable from day one.”
Grant Hunter, Head of Contracts & Clauses at BIMCO, was coordinating the process in the BIMCO membership. He says “The environmental aspects of shipping become more and more relevant for the actors in the industry. This will affect the operational mindset of us all. The IMO climate goal is helping to push us in that direction. The new STM clause can assist actors becoming more climate friendly through optimized arrivals.“
