BIMCO’s LNG Bunker Terms published
Published: 09 May 2023
As the shipping industry evolves by shifting towards the use of alternative fuels that will be more sustainable in the future, BIMCO publishes the first of many more supply terms addressing this issue. The LNG Bunker Terms are now available for use as a simple Annex B to the existing BIMCO Bunker Terms 2018.
The BIMCO Documentary Committee has adopted the LNG Bunker Terms which will help the shipping industry make the shift towards the use of alternative fuels in the future.
Since LNG appears to be the most popular alternative fuel at present, BIMCO has been at the forefront of preparing the industry for the move towards this and other more sustainable and greener fuels. BIMCO will continue to consider projects relating to alternative fuels, including the possibility of publishing Annexes dealing with methanol and ammonia.
The intention and purpose is to cater for the nature of LNG bunkering operations whilst trying to keep the provisions in line with the existing BIMCO standard contract for the purchase and supply of marine fuels to ships: the BIMCO Bunker Terms 2018.
The LNG Bunker Terms are offered as an annex, which cannot therefore operate as a stand-alone contract and must be incorporated as Annex B to the BIMCO Bunker Terms 2018 (it is intended to replace Clauses 2, 3, 4, 6, 7, 9, 10 and 18 of the BIMCO Bunker Terms 2018). The existing Election Sheet (Annex A) to the BIMCO Bunker Terms has also been updated accordingly.
The drafting team was comprised of : Robert Crees and Mark Tamsitt of World Fuel Services, Marcus Dodds of Capital Maritime, Meng Hsien of Pavilion Gas, Naoya Takahashi of NYK Line, Li Yan of COSCO Shipping, Steve Simms of SEA LNG and Gerben Dijkstra of Anthony Veder.
You can find the LNG Bunker Annex via BIMCO SMARTCON and a copy of the explanatory notes here