Offshore supply sector gets new standard, reflecting changing times


A new SUPPLYTIME form provides an updated standard for offshore supply sector, as Jonathan Page and Andreas Fjærvoll-Larsen, of Wikborg Rein, review


BIMCO’s SUPPLYTIME form is the standard industry time charterparty for offshore support vessel chartering, so much so that its use and acceptance has throughout a period of time spread to parts of the market not envisaged by the original drafters of the document. But the offshore support market, like other sectors of the industry, has continued to evolve over the years, necessitating at the same time a change in the standard wording of the contracts which govern its conduct.