World News
Slow Market Sees BIMCO Draft Idle Time Hull Fouling Clause
The Baltic and International Maritime Council (BIMCO) has drafted a new time charter clause to deal with hull fouling that occurs when a vessel spends long periods of time idle.
The clause, which will be reviewed by the Documentary Committee in November and could be published soon after that, was drafted to address the extended idle times some vessels are experiencing because of market conditions.
"In some cases this may lead to the growth of marine fouling on the hull and other underwater parts of the ship which affects the vessel's performance," BIMCO said in a statement.
While a vessel's owner is normally responsible for maintaining its underwater parts under time charter agreements, the new clause would suspend performance warranties after a specific period of idling.
This "trigger" period is set at 15 days in tropical waters and 25 days in non-tropical waters, but parties can negotiate a different period.
The clause calls for charters to inspect and clean the vessel as needed once the clause is triggered, with allowances for alternative provision if suitable cleaning facilities are not available.
Cleaning is required before redelivery to the vessel's owner, but in situations where that is not possible the parties must agree to a lump sum figure to cover cleaning and all related costs.
A recent report by Eniram found that hull fouling in cruise ships can cost up to $500,000 a year, in addition to its environmental impacts.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 493.50 | 0.00 | 609.00 | 3.00 |
| Rotterdam | 432.00 | 18.00 | 582.50 | 17.00 |
| Houston | 450.00 | 8.00 | 607.00 | 11.00 |
| Fujairah | 476.50 | 6.50 | 699.00 | 4.00 |
| Global 20 Ports Average | 516.00 | 5.00 | 700.00 | 5.50 |
| Global 4 Ports Average | 463.00 | 8.00 | 624.50 | 7.00 |
| Global Average Bunker Price | 562.00 | 2.00 | 738.00 | 3.50 |
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