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The standard gas tanker voyage charter party codenamed ASBAGASVOY is ready for a first industry consultation as well as review by the Documentary Committee of BIMCO and the Board of the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA).
The purpose of the clause is to allocate costs and responsibilities for obtaining, transferring, and surrendering greenhouse gas emissions allowances for ships operating under an emissions scheme, such as the EU Emissions Trading System (ETS). The basis of the clause is that the party providing and paying for the fuel under the time charter is the party that is responsible for providing and paying for emissions trading allowances. The owners must monitor the ship’s emissions and provide the relevant emissions data and the basis of calculations to the charterers. Using this information, the charterers transfer the appropriate allowances to the owners monthly. The clause addresses the adjustment of allowances due to offhire events and what happens if the charterers fail to transfer allowances when due.
BIMCO contributes actively in the development of IMO's strategy to limit the average global temperature rise below 2°C.
BIMCO has published a climate change glossary to clarify and harmonise definitions and terminology to ensure that the discussions around climate change and potential solutions for the shipping industry are based on a mutual understanding of what the commonly used terms mean.
ASVTIME, the new time charter party for accommodation support vessels, was recently adopted by BIMCO’s Documentary Committee and is now available for use in SmartCon.
ASVTIME, the new time charter party for accommodation support vessels, was recently adopted by BIMCO’s Documentary Committee and is now available for use in SmartCon.
The 75th session of the Marine Environment Protection Committee (MEPC 75), which took place online from 16 to 20 November 2020, continued the deliberations on reduction of greenhouse gas (GHG) emissions from shipping, but also adopted amendments to MARPOL Annex VI and the International Ballast Water Management Convention (BWM Convention).
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.
At the launch of the Fourth International Maritime Organization’s Greenhouse Gas Study, eyes rested primarily on the fact that CO2 emissions from the shipping industry rose between 2012 and 2018. The focus on this six-year period diverted attention from what should not have been missed – the year 2009.
BIMCO gathers information on countries and individual ports that have restricted or banned discharge of wash water from exhaust gas cleaning systems (EGCS) within their jurisdiction to exclusively support our members that may be using scrubbers to avoid falling foul of any local restrictions.
