In response to the evolving dynamics of the shipping industry, the IG has diligently reviewed and revised these LOI wordings, which were last updated in 2010. Despite the known risks associated with LOIs, they continue to be widely utilized in our industry.
With valuable insights from charterer and owner representatives, as well as guidance from BIMCO, we are proud to present the revised wordings. They can be easily downloaded from the links provided below and, of course, from our company's website. Moreover, we encourage you to review the explanatory notes, highlighting the individual changes made.