Eyes on Asia as BIMCO develops new gas contracts
19 November 2018BIMCO will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.
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BIMCO will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.
Feedback from the gas industry on the draft ASBAGASVOY charter party shows that ASBA and BIMCO, who are working together to develop the new contract, are on the right track. The view is supported by BIMCO’s Documentary Committee.
BIMCO is merging its sanctions and designated entities charter party clauses, following revisions by a specialist subcommittee, to create a more robust contractual solution for sanctioning.
Latest version of this clause is the 2020 Marine Fuel Sulphur Content Clause for Time Charter Parties .
BIMCO’s approval body for contracts and clauses will meet online on 23 February. The development of a series of carbon clauses is high on the Committee’s agenda. An Emissions Trading System Allowances (ETSA) Clause for time charters is up for adoption and the Committee will also be asked to review a first draft of a CII Compliance Clause. Both clauses follow hard on the heels of the EEXI Transition Clause published in December last year as part of BIMCO’s prioritised roll-out of carbon-related clauses for the industry.