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Following a first industry consultation on ASBAGASVOY – a gas tanker voyage charter party based on ASBATANKVOY – the joint BIMCO/ASBA subcommittee in charge of developing the new charter party has agreed a revised draft and invites comments from the entire gas tanker industry.
BIMCO has today shared the two critical issues at the top of its own priority list ahead of the IMO’s MEPC meeting next week.
Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU has accounted for 51% of the fleet’s capacity expansion. Today, just 626 ships provide 36% of the fleet’s capacity, and the trend is set to continue as the large ships dominate the order book.
During the COVID-19 pandemic, liner operators increased the average sailing speed by up to 4% due to strong demand and widespread port congestion. Today, the situation is very different and in the first quarter of 2023 the average sailing speed has slowed to 13.8 knots, down 4% y/y, and could drop by 10% before 2025.
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 Delivery Clause LNG Fuel Gas freeing and Cool down Clause
Providing the lists of solid bulk cargoes that can be exempted from CO 2 fittings as issued by the International Maritime Organization.
BIMCO has issued an updated list of local restrictions on the discharge of the wash water from Exhaust Gas Cleaning Systems (EGCS), also known as scrubbers.