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The BIMCO Bunker Terms 2018 is a standard contract for the purchase and supply of marine fuels to ships. This edition also includes the LNG Bunker Annex published in May 2023. Copyright in the BIMCO Bunker Terms 2018 and the Annex is held by BIMCO.
BIMCO speaks at the 10th Fujairah Bunkering and Fuel Oil Forum.
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 Gas freeing and Cool down Clause LNG Fuel Quality Clause
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs will be reduced by as much as USD 1 million a year if current price levels stay put.
Technical and regulatory aspects of the 2020 global fuel sulphur limit are major concerns to the industry ahead of 1 January 2020. The course focuses on all aspects including bunker clauses.