World News
BIMCO Adopts Energy Efficiency Data Sharing Clause
Shipping industry body BIMCO has adopted a new contractual clause for time charter parties relating to energy efficiency data sharing.
This new clause provides a clear framework for sharing data between vessel owners and charterers, ensuring better collaboration, BIMCO said in a statement on its website on Tuesday.
The clause allows charterers to install additional sensors on vessels, with the owner’s consent, to monitor performance and fuel consumption.
These sensors will provide critical data to optimise operational efficiency. Importantly, the clause ensures that any added sensors are covered by the vessel’s insurance.
A key feature of the clause is that it enables both owners and charterers to share responsibility for energy efficiency efforts while outlining the cost allocation for data transmission and usage.
The clause also includes a provision that limits the use of this data for off-hire claims or performance disputes unless both parties agree otherwise. In addition to technical details, the clause emphasises compliance with legal and cybersecurity standards, ensuring data protection and secure sharing.
“The clause offers a balanced approach to improving data sharing practices, harnessing the power of onboard sensors to monitor performance and drive operational efficiency,” Mattias Kjellberg, chair of BIMCO’s subcommittee drafting the clause, said.
To view the new clause in full, click here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 489.00 | 2.00 | 583.50 | 9.00 |
| Rotterdam | 439.00 | 6.00 | 587.50 | 6.00 |
| Houston | 437.50 | 6.00 | 597.00 | 4.50 |
| Fujairah | 478.00 | 9.00 | 703.50 | 7.50 |
| Global 20 Ports Average | 513.50 | 4.00 | 694.50 | 2.50 |
| Global 4 Ports Average | 461.00 | 5.50 | 618.00 | 6.50 |
| Global Average Bunker Price | 559.50 | 0.00 | 739.50 | 3.50 |
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