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BIMCO has published two sulphur content related bunker clauses which are now available on the BIMCO website and on SmartCon, BIMCO’s contract editing solution.
The presentation clause is paramount when concluding business in the gas spot market as it describes how the gas tanker must present at the load port. The ASBAGASVOY drafting committee set up by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) has developed tailormade presentation clauses for use with the new gas tanker charter party.
Using feedback and experience from members and the industry, BIMCO keeps all its clauses and contracts under review. Currently, we are working on the following updates or new projects.
BIMCO’s 2020 Bunker Clause working group is pushing hard to finish work on two key clauses addressing the global switch to 0.5% sulphur content fuel on 1 January 2020.
BIMCO is updating its suite of sanctions clauses to reflect changes in the sanctions’ environment. The new clauses are expected to be launched at the end of 2019.
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
BIMCO has decided to start labelling all versions of its standard clauses with the year of publication, including the original edition, with the aim to reduce disputes over which version parties have agreed to.
