New clause in the pipeline to address the 2020 global sulphur limit
Overview
In response to the global sulphur limit of no more than 0.50% that will come into force on 1 January 2020, BIMCO has established a subcommittee for the development of a charter party clause that will address the issues related to the new regulations.
This project will be given high priority due to the increasing interest from the industry to address the contractual issues that may arise under charter parties. The aim is to have a first draft clause ready during the autumn.
The subcommittee consists of commercial, technical, legal and insurance experts with in-depth knowledge of the matter from Reederei F. Laeisz, Navig8, Oceanfleet Shipping, Cargill Ocean Transportation, North of England P&I Club and HFW.
Among the issues that the subcommittee will discuss are:
- allocation of costs for the removal of non-compliant fuels
- obligation on time charterers to provide fuel of the correct specification at redelivery
- the taking over of bunkers at redelivery of a ship at the end of a time charter party
- allocation of cost and time for penalties and delays in the event of non-compliance
- allocation of cost and time for the installation of scrubbers
A first meeting will take place on 19 September 2018 in BIMCO House, Denmark.
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Posted:
28 June 2018
VPS Bunker Alerts
Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples and have kindly permitted BIMCO’s Members to access this information.
The Bunker Alerts are not intended to be an evaluation of overall bunker quality in the port or area concerned, but usually highlight a specific parameter within the fuel which has raised a quality issue.
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