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The International Bunker Industry Association (IBIA), with support from BIMCO, launched an extensive online survey in February 2022 to identify to which extent the maritime industry stakeholders believe there is a need for a wider adoption of bunker licensing schemes, mass flow metering (MFM) and transparency to improve market conditions. The answer – for the most part – is yes.
BIMCO is developing a term sheet for ship sale and leaseback transactions, SHIPLEASE, and is seeking input from industry experts on the new standard.
In October 2009 BIMCO initiated a project to develop a suite of standard bunker clauses for use in time charter parties. The rationale behind developing the suite is simply to address the ever increasing importance of bunker issues in time charter parties and the need to ensure that the risk of bunker disputes is minimised by clearly worded clauses that reflect legislative developments. The Suite of Clauses was adopted by BIMCO’s Documentary Committee at its meeting in Vancouver in June 2011. The Suite provides clauses covering matters relating to delivery/redelivery bunkers; bunkering operations; sampling; fuel testing programmes; and ECA trading, all of which are matters that are frequently absent from or insufficient in many standard time charter parties. Many older time charter forms contain bunker clauses covering the fundamental principles under the charter, but simply do not contemplate today’s situation where vessels are required to carry and use several grades of fuel and where sampling and testing regimes are an integral part of the process.
New privacy policy and terms of use for the BIMCO Shipping KPI due to forthcoming EU General Data Protection Regulation on 25 May 2018.
BIMCO speaks at the 10th Fujairah Bunkering and Fuel Oil Forum.
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
The Documentary Committee, under the chairmanship of Mr Francis Sarre, met in Copenhagen on 17 November in Copenhagen for its regular autumn meeting. Following two years’ intensive work involving owners, lawyers and financial institutions, a new Standard Term Sheet for Bilateral Financing was adopted.
With an increasing focus on force majeure due to the COVID-19 outbreak, BIMCO has gathered a drafting team to develop a free-standing force majeure clause for use in a variety of contracts.
