Bimco and Hunit launch pilot
Bimco and Hunit have initiated a pilot project to modernise the maritime industry through self-performing standard contracts. This initiative aims to reduce risks and manual workloads while addressing challenges from sanctions, safety regulations and increasing transparency demands.
Currently, many operations rely on outdated systems like PDFs and spreadsheets, which hinder efficiency. The collaboration will integrate Hunit's agentic contract technology into Bimco's library of maritime agreements, turning contracts into self-managing agents. For instance, a ship navigating a piracy corridor can verify approvals and insurance in real-time, eliminating coordination issues.
By embedding this technology into standard contracts, agreements will automatically record passage plans, conduct checks, and manage payments. This approach enhances efficiency and risk control, ensuring vessels operate in line with contracted terms and paving the way for improved outcomes in maritime trade.