World News
BIMCO Moves Forward on IMO2020 Bunker Clauses
BIMCO's Global Marine Fuel Sulphur Clause for Time Charter Parties was approved today by the organisation's Documentary Committee at its meeting in Copenhagen.
It is one of a number of IMO 2020 focused clause's the group is working one.
"It is very important that the new sulphur clauses are ready well in advance to allow the parties to prepare ahead of 1 January 2020," says Peter Eckhardt, chairperson of the drafting committee.
"The Global Marine Fuel Sulphur Clause for Time Charter Parties will help them do exactly that, as it sets out the obligations and responsibilities of owners and charterers to comply with MARPOL Annex VI sulphur content requirements."
As previously reported by Ship & Bunker, BIMCO has also been working to fast track its 2020 Transitional Fuel Clause and confirmed today the two clauses will be published as one package.
Clause highlights include:
- Charterers are obliged to provide fuel that complies with MARPOL requirements, grades and specifications set out in the charter party
- Charterers must use suppliers and bunker barge operators who comply with MARPOL
- Shipowners will remain responsible for the fuel management
- Any remaining non-compliant fuel on board after 1 January 2020 has to be removed no later than re-delivery or 1 March 2020 – whichever comes first
- Removal of non-compliant fuel must be done at the charterers' cost
- Tank cleaning must be done at the cost of the shipowners
For additional information, interested parties can reach Grant Hunter, Head of Contracts & Clauses, as follows:
Mob: +44 778 662 7796
Email: gh@bimco.org
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 555.00 | 5.50 | 672.00 | 3.00 |
| Rotterdam | 516.50 | 4.00 | 653.50 | 0.50 |
| Houston | 556.00 | 8.00 | 681.00 | 10.00 |
| Fujairah | 548.00 | 1.00 | 749.50 | 2.50 |
| Global 20 Ports Average | 577.00 | 0.50 | 751.50 | 2.00 |
| Global 4 Ports Average | 544.00 | 1.50 | 689.00 | 4.00 |
| Global Average Bunker Price | 629.00 | 0.50 | 800.50 | 0.00 |
Popular Now More
-
Dec 23Since its launch in late June, the company's first 100 deliveries have primarily focused on LSMGO supply by barge to container ships and tankers in New York Harbor, CEO John Barbarise tells Ship & Bunker. -
Dec 23The company carried out worldwide marine fuel trading from offices in Singapore. -
Dec 24The 9,500 DWT heavy lift vessel Ursa Major sustained an engine room explosion in the Strait of Gibraltar at about 12:30 PM local time on Monday.