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Brazilian crude oil exports hit a record high in December 2019 with a total 8.7 million tonnes of crude oil exported, as China continues to turn to Brazil for crude.
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 2005, and the 2020 Fuel Transition Clause, which deals with switching between fuel with a maximum sulphur content of 3.50% and fuel with a maximum sulphur content of 0.50% by 1 January 2020. Both clauses should be incorporated into time charter parties. This clause was published on 10 December 2018.
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 2005, and the 2020 Fuel Transition Clause, which deals with switching between fuel with a maximum sulphur content of 3.50% and fuel with a maximum sulphur content of 0.50% by 1 January 2020. Both clauses should be incorporated into time charter parties. This clause was published on 10 December 2018.
The IMO 2020 global sulphur limit for marine fuel oil has now been in force for over one month. BIMCO, ICS, INTERCARGO and INTERTANKO are calling on fleet- and vessel managers, as well as technical superintendents, to share their insight and experiences with the new IMO 2020 compliant fuels.
BIMCO and INTERTANKO have jointly published Q&As addressing the contractual implications owners and charterers should keep in mind when chartering ships fitted with scrubbers. The Q&As highlight the key charter party clauses and concepts which should be reviewed for both time and voyage charter parties.
BIMCO was very satisfied with several developments at the meeting of the Marine Environmental Protection Committee at the International Maritime Organization 22-26 October.
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
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.
As 1 January 2020 approaches and the sulphur regulation from the International Maritime Organization (IMO) comes into force, BIMCO is experiencing an increase in questions related to the discord between the verification produces for statutory fuel oil samples and commercial fuel oil samples.
