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Technical and regulatory aspects of the 2020 global fuel sulphur limit are major concerns to the industry ahead of 1 January 2020. The course focuses on all aspects including bunker clauses.
Prices continue to struggle across all of the major ship recycling markets, as Bangladesh further declined off of the back of depreciating currencies and sustained L/C struggles, while Turkey suffered similarly with declining steel plate prices, the Lira, and finally, its vessel prices. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
BIMCO members can now monitor the price spread between Marine Gas Oil Low Sulphur and 380 centistoke High Sulphur Fuel Oil in 32 different ports around the world with daily information supplied by MABUX.
Prices across the subcontinent markets have been rocked by the shocking deterioration of local steel plate prices & currencies (especially in India) and the immediate / short term outlook for the various recycling markets certainly seems grim. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
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 Fuel Delivery Clause LNG Fuel Gas freeing and Cool down Clause LNG Fuel Quality Clause
