BALTIME 1939 (as revised 2001)
BIMCO's owner-friendly period time charter and how its off-hire and employment provisions differ from the NYPE line.
BALTIME is BIMCO’s uniform time charter party, current as BALTIME 1939 as revised 2001. It is the principal European-origin dry cargo period form and is generally regarded as more owner-friendly than the NYPE line.
The BALTIME off-hire provision and the owner’s responsibility clause are drawn more narrowly than their NYPE equivalents, which is the practical reason a charterer will often resist the form. BALTIME is short by modern standards and is normally fixed with substantial rider clauses covering the matters the printed form leaves open.
The full article will cover the form clause by clause, the off-hire and owner’s responsibility provisions and the case law on them, the employment and indemnity position, and a direct comparison with NYPE 2015 on the clauses that decide cost and risk.