The fuel oil carriage ban from the International Maritime Organization (IMO) that will come into force on 1 March 2020 has raised questions regarding the possibility of blending fuel on board ships to achieve compliance. The questions have prompted BIMCO to offer its view to members on the regulatory aspects of whether on board blending can be considered compliant.
IDEA will be shut down at midnight between 31 December 2019 and 1 January 2020 CET.
It is impossible to execute a contract using IDEA after that time.
BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.
The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D programme to help eliminate CO2 emissions from international shipping. The proposal includes core funding from shipping companies across the world of about USD 5 billion over a 10-year period.
BIMCO’s committee structure will change to reflect the increased importance of the environment while maintaining a thorough debate on safety. The BIMCO Board of Directors agreed to the change at a meeting in December.
BIMCO welcomes the recognition of the European Commission (EC) that climate change is a global issue that requires mobilisation of partners internationally.
BIMCO’s Documentary Committee has agreed to carry out a major overhaul of the Dispute Resolution Clause with the aim to shorten and simplify what has become BIMCO’s longest standard clause.
Get the latest insight and interviews in the December edition of BIMCO’s Bulletin magazine.