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Baltic and International Maritime Council (BIMCO)

1038 words (4 pages) Essay in Marketing

5/12/16 Marketing Reference this

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BIMCO is an independent global transport organization, with a membership composed of ship owners, managers, brokers, agents and many other stakeholders with interests in the shipping business. As a matter of fact, BIMCO the world’s largest private shipping organization by representing more than 2,700 of the worlds shipping companies The members embody around 450 million Deadweight tonnages (DWT) which is 60% of the total cargo carrying capacity available. DWT is measure of how much weight a ship could safely bear. BIMCO headquarter building is located in Bagsvaerd, Denmark.

The main objective of BIMCO is to act on behalf of its global membership to endorse higher standards as well as development and promotion of fair and equitable international shipping policy.

BIMCO is regarded as a Non-Governmental Organization (NGO), holds observer status with a number of United Nations organs and is in close dialogue with maritime administrations, regulatory institutions and other stakeholders within the EU, the USA and Asia. The association provides one of the most comprehensive sources of practical shipping information and a wide variety of advisory and consulting services to its members.

       BIMCO’s purpose is to make international trade easier by:

  • Influencing the simplification of international trade procedures
  • Enforcing best trading practices
  • Developing and promoting international standards for trade documentation
  • Working towards better border regulations and the removal of international trade barriers

BIMCO acts as an information service hub, they provide charter party interpretation. Chater-party interpretation is a written contract between the owner of a vessel and a “charterer” who rents use of the vessel or a part of its freight space. The contract generally includes the freight rates and the ports involved in the transportation. BIMCO explains each countries laws in a unified and simplified way. BIMCO also calculates laytime (Time allowed by the ship-owner to the charterer in which to load and discharge the cargo. It is expressed as a number of days or hours or as a number of tons per day.) They also give port related advice, evaluate freight taxes, notify about any possible ice situation (IE weather forecast), company backgrounds check-up, national holidays and so on.

BIMCO in addition prints out checklist and forms of approved documents, The Ship Master’s Security Manual, BIMCO Bulletin, BIMCO Weekly News, Agency Tariffs (tax on imported goods) to keep members informed about any recent news or events. Various Marine-related courses are offered. Moreover they sell some niche industry software solutions. Charter Party Editor, Voyage Estimator, Laytime System are some software examples.

BIMCO also toke the responsibility of environmental management and promote environmentally friendly shipping solutions. They set rules and regulations to control the exhaust emission and effluents such as Greenhouse House Gases (GHGs). Moreover, BIMCO send representatives to monitor the disposal of all redundant and outlived tonnage and encourage ship recycling to decrease the overall waste. They are also continuing to support the scientific advances of new technology that will bring about further reduction in ecological impact. These rules reduce dramatically ship and marine pollution and limit hazardous ballast waste. Furthermore, it prevents the spread of alien species and pathogens that are a major health and safety treat to the globe in broad.

BIMCO cooperates and enjoys a tight relationship with the various international organizations, marine academes and establishments.

United Nations-related organs:

  • UNCITRAL – United Nations Commission on International Trade Law
  • UNCTAD – United Nations Conference on Trade and Development
  • UNIDO – United Nations Industrial Development Organization
  • UNODC – United Nations Office on Drugs and Crime

Universities and Marine Colleges:

  • Dalian Maritime University
  • The Institute of Marine Engineering, Science & Technology
  • The Nautical Institute
  • Shanghai Maritime University


  • AIDE – Association Internationale de Dispacheurs Européens
  • ASBA – Association of Ship Brokers & Agents
  • The Baltic Exchange
  • BIC – Bureau International des Containers et du Transport Intermodal
  • CMI – Comité Maritime International
  • CSA – Chamber of Shipping of America
  • DBTG – Dry Bulk Terminals Contact Group
  • ECSA – European Community Shipowners’ Associations
  • EHMC – International Harbourmaster Association
  • EMSA – European Maritime Safety Agency
  • EPCA – European Petrochemical Association
  • ESPO – European Sea Ports Organization
  • FIATA – International Federation of Freight Forwarders Associations
  • FONASBA – The Federation of National Associations of Ship Brokers and Agents
  • HELMEPA – Hellenic Marine Environment Protection Association
  • IACS – International Association of Classification Societies
  • IAPH – International Association of Ports and Harbors
  • IBA – International Bar Association home
  • IBIA – International Bunker Industry Association
  • ICC – International Chamber of Commerce
  • CCS – ICC Commercial Crime Services
  • ICHCA – International Cargo Handling & Co-ordination Association
  • ICS – International Chamber of Shipping
  • ICS – Institute of Chartered Shipbrokers
  • IFSMA-International Federation of Shipmasters’ Associations
  • IHMA – International Hologram Manufacturers Association
  • IMIF – International Maritime Industries Forum
  • IMO – International Maritime Organization
  • Inmarsat
  • INTERCARGO – The International Association of Dry Cargo Shipowners
  • Interferry
  • International Group of P&I Clubs
  • Intertanko London
  • Intertanko Oslo
  • IOPC – International Oil Pollution Compensation Funds
  • IPTA – International Parcel Tankers Association
  • ISF – International Shipping Federation
  • ISMA – International Ship Managers’ Association
  • ISOA
  • ISU – International Salvage Union
  • ITOPF – International Tanker Owners Pollution Federation
  • IUA – International Underwriting Association of London
  • IUMI – International Union of Marine Insurance
  • JSE – Japan Shipping Exchange, Inc.
  • MPA – Maritime and Port Authority of Singapore
  • MSC – Maritime Security Council
  • OCIMF – Oil Companies International Marine Forum
  • OECD – Organisation for Economic Co-operation and Development
  • USCBP – US Customs & Border Protection
  • USCG – United States Coast Guard
  • WCO – World Customs Organizations
  • World Shipping Council
  • Worldscale – New Worldwide Tanker Nominal Freight Scale
  • WTO – World Trade Organization
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