BIMCO’s Documentary Committee approved a new set of standard bunker terms, developed by a cross-industry group, in New York on 2 May. The BIMCO Bunker Terms 2018 improve on the previous edition with a maximum limit of the parties’ liabilities – a key change that will lead to wider adoption of the co... Please follow the link to continue reading.
The BIMCO Bunker Terms 2018 is a standard contract for the purchase and supply of marine fuels to ships. This edition also includes the LNG Bunker Annex published in May 2023. Copyright in the BIMCO Bunker Terms 2018 and the Annex is held by BIMCO.
BIMCO Bunker Price Adjustment Clause 2004 This Contract is concluded on the basis of a bunker price of USD _____ per metric ton for _____ oil* of _____ grade. If the bunker price per metric ton at _____** on the first day of loading is higher than USD _____ or lower than USD _____, any amount in e... Please follow the link to continue reading.
BIMCO will produce several clauses dealing with specific issues related to 2020, as making one clause to fit all concerns was deemed unworkable. The first 2020 clause – focused on compliance - may be published as soon as end October.
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The new BIMCO Bunker Terms 2018 that were approved by the Documentary Committee last week in New York have now been published. Sample copies of the BIMCO Bunker Terms 2018 together with comprehensive explanatory notes are available from BIMCO’s website. Secure and authenticated Word copies are avail... Please follow the link to continue reading.
BIMCO has produced two clauses for time charter parties to address key contractual issues relating to the switch to fuel with a maximum sulphur content of 0.50% as of 1 January 2020. The two clauses are the 2020 Marine Fuel Sulphur Content Clause, which replaces the BIMCO Fuel Sulphur Content Clause... Please follow the link to continue reading.
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