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Results for:BIMCO Bunker Terms 2018
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Bunker Quality and Liability Clause 2011
07 December 2023In 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.
Sample copy of BIMCO Bunker Terms 2018 with LNG Annex
09 May 2023Chinese translation of Explanatory Notes for BIMCO Bunker Terms 2018
10 June 2021The Port of Singapore discovers fraud and bans two bunker suppliers.
08 September 2017Singapore Port Authority drives a hard line on bunker fraud.
Fit for purpose: are your bunker clauses 2020 ready?
04 September 2018Technical, regulatory and financial aspects of the 2020 global fuel sulphur cap regime understandably loom large in people’s minds. But the importance of the contractual dimension should not be overlooked. BIMCO is forging ahead with an all-encompassing 2020 Clause for charter parties, which should be published in November.
SHIPLEASE term sheet ready for adoption process after expert feedback
06 August 2020Over a series of meetings, the drafting committee developing the new BIMCO term sheet for ship sale and leaseback transactions has considered input received from industry experts. The term sheet is now ready to be presented to the Documentary Committee for adoption.
Draft term sheet ready for second round of consultations
03 October 2016BIMCO's ship financing term sheet is now ready for a second round of consultations following a two-day meeting in Copenhagen.
