Singapore, Singapore
Town Hall, Mapletree Busine...
SHIPTERM Seminar, Singapore 24 May, 2017
Hosted by BIMCO and BW Group
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Singapore, 24 May 2017 [+] 8 FREE
Venue: Town Hall, Mapletree Business City, 20 Pasir Panjang Road, Singapore 117439
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EVENT DETAILS
 

SHIPTERM - BIMCO's Standard Term Sheet for Bilateral Ship Financing

Seminar 15.00-16.30 followed by networking reception finishing at 18.00



The seminar will be hosted by BIMCO and BW Group and will feature a panel of four representatives of the subcommittee that developed SHIPTERM:
 
Francis Sarre, Compagnie Maritime Belge (chairperson of the subcommittee)
Tao Lan, Industrial and Commercial Bank of China
Nick Fell, BW Group
Olga Petrovic, Linklaters LLP


The panelists will introduce and explain SHIPTERM and discussion will be invited with the audience on aspects such as the indicative/non-binding nature of the term sheet, issues relating to governing law and jurisdiction, and negative base rate scenarios and how these have been addressed.
 
A general introduction will be made by BIMCO’s General Counsel Christian Hoppe, who will explain the background for the term sheet project and why BIMCO has decided to develop a standard ship financing document.
 
The SHIPTERM subcommittee also included the following representatives:
 
Christopher Conway, Citi
Daming Qian, ICBC
Gildas Maire, Louis Dreyfus Armateurs
Klaus Vilstrup, Dampskibsselskabet NORDEN A/S
Liv Hege Dyrnes, AS Klaveness Chartering
Matt Hannaford, Hannaford Turner LLP
Michael Ziesenitz, Deutsche Bank
Michael Vernell, Watson Farley & Williams LLP
Peter Willems, HSBC
Robin Bencard, shipping and structured asset financing consultant
Xavier Riffaud, INGEPAR 


SHIPTERM was adopted by BIMCO’s Documentary Committee on 17 November 2016. It has been drafted as a short and simple standard for use in bilateral ship financing transactions concerning term loan facilities. It has been prepared in the well-known BIMCO format and is indicative/non-binding, as this is considered to be the market standard.

A BIMCO standard will be an important tool for shipowners, banks and lawyers when they draw up term sheets as part of ship financing transactions. The standard will be particularly useful for small and medium sized companies, who may not have a lot of experience with such transactions, but it is expected that all parties involved will save time and money.
 


The seminar is free of charge and is open to BIMCO members and non-members. Participants at the seminar will receive a free copy of the SHIPTERM booklet containing a copy of the standard term sheet and explanatory notes.
 

Date and venue:
 
24 May 2017
15.00-18.00 
Town Hall (seminar room)
Mapletree Business City
20 Pasir Panjang Road
Singapore 117439
 
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Standard term sheet cover shot