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BIMCO will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.
The demand side continues to improve on a global scale. The winter weakness in the US and still-sluggish demand in Europe has been offset by continued strong demand on North-South trades in the Atlantic basin and improving conditions on the ever-strong intra-Asian trading lanes.
In October, an Asian-based subcommittee involving major players within the ship owning and ship leasing communities will begin work to develop a term sheet for sale and leaseback transactions to meet a rise in demand and to complete the suite of three term sheets available for financiers, shipowners and their advisors.