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ASBAGASVOY

28 September 2020

ASBAGASVOY is a charter party for the gas tanker trade jointly authored by BIMCO and ASBA. It is based on, and follows the sequence of, ASBATANKVOY which for many years has been used for gas tanker fixtures, but introduces gas specific terminology. ASBAGASVOY replaces ASBATANKVOY clauses which pertain to the traditional product tanker trades. The charter party has been developed for both refrigerated and pressurised liquefied gasses such as LPG and petrochemicals. Copyright in ASBAGASVOY is held by ASBA.

BIMCO tackling safety challenges around sulphur cap at IMO

06 July 2018

The safety challenges connected with the implementation of the 0.50% sulphur cap are numerous, but not insurmountable. The issues are to some extent known from the implementation of the sulphur emission control areas (SECA) in 2015, among others loss of power, leaking fuel and lower flashpoints. Other issues have to be managed by digging out the experience from the 1980’s with very bad fuel oil quality e.g. instability and incompatibility.

Ballast Water Management - the deadline 080917 is approaching

25 July 2017

The International Maritime Organization's Convention for the Control and Management of Ships' Ballast Water and Sediments (BWM) enters into force 8 September 2017. Under the Convention, all ships in international trade are required to manage their ballast water and sediments in accordance with an approved ship-specific ballast water management plan. All ships will also have to carry a ballast water record book and an international ballast water management certificate.

Persian Gulf: War risks revisited

21 June 2019

As a result of increasing tension in the Persian Gulf area following recent attacks on two tankers, War Risk underwriters are charging additional premiums (AP) for calls to the Arabian Gulf/Gulf of Oman. Some underwriters are charging a flat rate for all tonnage operating in the area, while others are differentiating based on the type of tonnage, flag and port of call. AP is typically charged as a percentage of the hull value. Underwriters day top value is at present 1%.