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BIMCO's documentary work – alternative fuels

08 August 2023

As the maritime sector moves towards a greener and more sustainable future, BIMCO remains at the forefront of this transformation addressing the issue of alternative fuels. BIMCO is developing robust contractual tools for the industry by establishing two new subcommittees to commence work on clauses to address the introduction of the FuelEU Maritime Regulation, use of biofuels, dual fuel and to produce new Methanol Bunker Terms.

Sanctions Clause for Container Vessel Time Charter Parties 2021

08 November 2023

The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.

Sanctions Clause for Voyage Charter Parties 2020

08 November 2023

The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.

Sanctions Clause for Contracts of Affreightment (GENCOA) 2022

08 November 2023

The sanctions landscape has grown increasingly complex. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in contracts of affreightment are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes.

Shipping gears up to meet 5-10% low carbon fuel target, but will fuels be available?

20 December 2023

The International Maritime Organization’s (IMO) targets for the use of zero or near-zero fuels in 2030 can be met using sustainable biofuels. Many different sectors will compete for those fuels, so shipping is focusing on transitioning to alternative green and blue fuels. Today, only 1% of bulk, container, and tanker ships are prepared for using these fuels and fuel availability is low.

BIMCO publishes suite of LNG Fuel Clauses for Time Charters

18 March 2022

An increasing number of ships that use alternative fuels are entering the market in response to the industry’s drive towards reducing CO 2 emissions. The most common alternative fuel at present is Liquefied Natural Gas (LNG) which is used in an increasing number of dual-fuelled ships in operation.

Fuel switching – safety alert

30 July 2009

In 2009, the United States Coast Guard (USCG) issued a safety alert highlighting the possible hazards arising from switching from residual fuel oils to distillate fuel oils in order to reduce emissions.

15+15 webinar: Maturity status of alternative marine fuels

19 March 2024

The alternate fuel space is heating up with many options and variants cropping up under a myriad of colours. Among these options, some are considered short term contenders while some are better bets for the long term. In this 15+15 webinar Joshua Padeti , Senior Engineer from ABS' Houston Sustainability Center aims to provide clarity on the maturity status for the major contenders of alternative marine fuels. Options such as LNG, methanol, ammonia, biofuels, hydrogen etc. will be discussed and their variants green, blue, grey etc will be pitted against each other to estimate where the fuels are today and where they might be in the future. What fuels are the current contenders? How do fuel variants stack up against each other? Which fuel options should we on the lookout for?