Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Tue 20 Nov 2018, 07:10 GMT

BIMCO to start work on LNG Bunker Purchase Contract in January


Two gas-related contracts expected to take 18 months to complete.

Shell's Cardissa vessel (right) bunkered the world's first LNG-powered Aframax tanker, Gagarin Prospect (left), in Rotterdam's maiden ship-to-ship LNG bunker delivery.
Image credit: Port of Rotterdam Authority
BIMCO is to start work on developing an LNG Bunker Purchase Contract in early 2019.

The new contract, together with an LPG Voyage Charter Party, are planned to be developed in Asia in an effort to further increase the involvement of the shipping association's members in the region.

Work on the two documents is to begin in January 2019 and is expected to take approximately 18 months to complete.

"An alternative fuels contract and a voyage charter for LPG are two key projects which have global resonance," remarked Grant Hunter, Head of Contracts and Clauses at BIMCO.

"This is an opportunity for BIMCO to optimise its documentary work by sharing some of the project tasks among Asian membership resources," Hunter said.

BIMCO says it is drafting teams for the two projects from China, Japan and Singapore, with additional expertise from European based members. The project is to be headed by Wei Zhuang, BIMCO's Asia Regional Manager based in Shanghai.

"I'm looking forward to bringing some of our important documentary work to the Asian region where there is solid demand for BIMCO's contracts and clauses," Zhuang remarked.

BIMCO   LNG   Standardized contract  
Arctic Tern vessel. Wallenius Wilhelmsen takes delivery of first methanol-ready Shaper Class vessel  

The dual-fuel Arctic Tern will enter service on the Asia–Europe trade almost immediately.
Al Muraykh vessel. Hapag-Lloyd signs shore power agreement with Hamburg Port Authority  

Deal commits the carrier to using onshore power supply at all Hamburg terminals.
Dorthe Karin Bendtsen, KPI OceanConnect. KPI OceanConnect reports 21% rise in pre-tax earnings for 2025/26  

Marine fuel firm delivers 13 million tonnes and expands carbon markets capabilities amid geopolitical turbulence.
VTTI logo. VTTI Dalian completes first large-scale 'green methanol' vessel loading  

Cargo to be supplied as marine fuel in Shanghai.
Steff Tan, Oilmar. Oilmar appoints Steff Tan as marine fuels trader in Singapore  

New hire's background spans bunker operations, logistics, commercial trading, marketing, and business development.
Feng Da Hai vessel. Cosco Shipping adds methanol-ready bulk carrier Feng Da Hai to fleet  

The 64,000-tonne vessel is equipped with a methanol fuel system for future low-carbon operations.
Oilmar office in Dubai. Oilmar welcomes summer intern to Dubai branch  

Arpit Aryan will rotate across the bunker fuel trading, finance and operations departments.
Aerial view of the Dubai skyline. Oilmar takes on trading and finance intern in Dubai  

New intern to rotate across trading, operations and finance teams.
Seaspan and Maersk signing. Seaspan and Maersk deepen fleet efficiency collaboration with $75m upgrade programme  

Retrofit package for four 13,000-teu vessels includes installation of shaft generator to reduce auxiliary engine fuel consumption.
European Parliament building in Brussels. EU Parliament vote on soy biofuels could expose bloc to $5.6bn a year in trade sanctions  

MEPs reject regulation that would have phased out soy biofuels, risking WTO retaliation penalties.

↑  Back to Top


 Recommended