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LNG Bunker Operational 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 Fuel Delivery Clause LNG Fuel Gas freeing and Cool down Clause LNG Fuel Quality Clause

The collapse of the oil and bunker fuel markets in early 2020

07 May 2020

The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.

How will lower bunker prices affect the substantial overcapacity in the dry bulk market?

18 December 2014

As bunker fuel costs have come down from USD 600 per tonne to USD 330 per tonne over the past 6 months, there has been much talk about increased ship speeds. Some single voyage or single company estimates aim at supporting the reintroduction of higher speeds to generate higher revenue and potentially higher earnings. In reality, some of them may actually prove able to deliver on the promise.