BIMCO rules
29 June 2017As adopted at the General Meeting in May 2023
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As adopted at the General Meeting in May 2023
BIMCO’s Documentary Committee approved a new set of standard bunker terms, developed by a cross-industry group, in New York on 2 May. The BIMCO Bunker Terms 2018 improve on the previous edition with a maximum limit of the parties’ liabilities – a key change that will lead to wider adoption of the contract.
BIMCO’s Documentary Committee approved a new set of standard bunker terms, developed by a cross-industry group, in New York on 2 May. The BIMCO Bunker Terms 2018 improve on the previous edition with a maximum limit of the parties’ liabilities – a key change that will lead to wider adoption of the contract.
Bunker fuel is a key element in the running of ships, and problems related to bunkers can massively impact daily operations. Information about bunker quality issues is of high value and BIMCO has therefore entered into a new cooperation with Veritas Petroleum Services (VPS) who publishes regular Bunker Alerts based entirely on fuel samples.
The BIMCO Terms is a standard contract for the purchase and supply of marine fuels to ships. The latest edition of this contract is BIMCO Bunker Terms 2018 . Copyright in the BIMCO Terms 2015 is held by BIMCO.
A review of the increasingly widely used BIMCO Terms 2015 standard bunker contract began at a recent meeting held at BIMCO House.