News

Lugenbuhl Shareholder David Sharpe Invited
 to Review Influential Maritime Contract


08/24/2016

Lugenbuhl, Wheaton, Peck, Rankin & Hubbard shareholder David Sharpe is one of several admiralty and maritime industry experts who have been invited to review and offer input on an updated edition of SUPPLYTIME 2005, BIMCO’s time charter party for offshore service vessels. SUPPLYTIME 2005 is part of BIMCO’s suite of offshore industry forms and is BIMCO’s best-selling standard document.   

BIMCO, which has spent more than a year updating the form, seeks to make SUPPLYTIME 2005 provisions clearer and more balanced while reflecting current commercial practice in the offshore sector. The latest edition will pay particular attention to the knock-for-knock, mutual hold-harmless indemnity regime.

The updated draft will be reviewed by BIMCO’s Documentary Committee in November with a targeted completion in May 2017. Sharpe invites comments from industry users of SUPPLYTIME 2005, especially in the Gulf of Mexico sector, by August 29, 2016.

Sharpe’s maritime law practice focuses on risk management in the marine service market. He negotiates and litigates contracts for both vessel owners and charterers. Sharpe is a frequent speaker at maritime law conferences, and he serves as an instructor for towage and offshore services classes at Tulane Law School. BIMCO is the world’s largest international shipping association, with more than 2,200 members globally.

More information about David Sharpe is available here.

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