Shipowners’ association Bimco has cemented its move into ship financing with a new standard term sheet for use in transactions.
It has been drafted as a “short and simple” document for term loan facilities, but is indicative and non-binding.
Bimco sees this as an important tool for shipowners, banks and lawyers and hopes it will be particularly useful for small and medium-sized companies, who may not have a lot of experience with such deals.
President
