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New Bunker Terms will boost harmonisation

25 April 2018

BIMCO’s Documentary Committee is expected to adopt a new version of the standard contract Bunker Terms in New York on May 2. The Bunker Terms 2018 have been drafted by representatives from across the bunker industry. It is a balanced set of terms and conditions designed to be fair for both buyers and sellers.

BIMCO Bunker Terms 2018

30 January 2023

The BIMCO Bunker Terms 2018 is a standard contract for the purchase and supply of marine fuels to ships. The latest edition of this contract is BIMCO Bunkers Terms 2018. Copyright in the BIMCO Bunker Terms 2018 is held by BIMCO.

IBIA and BIMCO launch survey to identify need for bunker licencing

16 February 2022

The International Bunker Industry Association (IBIA), with support from BIMCO, is launching an extensive online survey to identify to which extent the maritime industry believes there is a need for wider adoption of bunker licensing schemes and mass flow metering (MFM) to improve market conditions.

Bunker contract review begins

21 November 2016

A review of the increasingly widely used BIMCO Terms 2015 standard bunker contract began at a recent meeting held at BIMCO House.

BIMCO’s LNG Bunker Terms 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.

LNG Fuel Quality Clause for Time Charter Parties

07 December 2023

In 2021 BIMCO initiated a project to develop a suite of LNG fuel clauses for time charter parties. The number of LNG fuelled ships in operation is growing steadily and the suite reflects the need to have bespoke clauses in time charters for these ships. The LNG clauses cover matters related to the LNG quality, delivery/redelivery, gas-freeing and cooling down and an operational clause. For dual-fuel ships the clauses are intended to be used together with the existing BIMCO bunker clauses for conventional fuel oils. The current suite of LNG fuel clauses for use in time charter parties also consists of: LNG Bunker Operational Clause for Time Charter Parties LNG Fuel Delivery Clause LNG Fuel Gas freeing and Cool down Clause

Types and Quantities of Bunkers on Redelivery Clause 2011

07 December 2023

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.