BIMCO Making Strides on Standard Bunker Contract Revision

By George Backwell
Wednesday, June 18, 2014
Bunkering: File photo CCL

BIMCO says that its sub-committee of purchasers and suppliers tasked with revising BIMCO’s standard bunker contract met again recently at BIMCO House to review comments received from the Documentary Committee and the Singapore Shipping Association (SSA). BIMCO explains that it met the SSA earlier this year to explain the purpose of the revision to develop a bunker purchase contract that would gain global acceptance.

Since that meeting, the SSA has formed a committee to examine the contract and their first meeting generated valuable comments and suggestions on the latest draft. BIMCO is represented on the SSA committee by Mr. Y K Chan who was involved in the development of the original FUELCON bunker purchase contract back in 1995 and also represented Singapore on BIMCO’s Documentary Committee for many years.

A number of amendments were made to the draft bunker contract. The minimum number of fuel samples was increased from four to five. One sample is to be retained on board the vessel for MARPOL purposes, two will be for the sellers and the remaining two for the vessel. As to the sampling point, some flexibility has been provided, bearing in mind varying practices around the world. The wording refers to the MARPOL Guidelines and “closest to the receiving Vessel’s bunker manifold”. However, in some cases samples will be drawn from the bunker barge for practical reasons where, for example, bunker barge personnel are unable to board the vessel.

Wording has been added to provide for situations where local rules on bunker practices are mandatory and therefore take precedence, such as with Singapore’s Standard Code of Practice for Bunkering, the SS600.

The claim process under the contract was also reviewed to clarify three key stages. The first is entering a remark on the bunker delivery note/receipt (BDN) or, if it is not permitted to make any remarks on the BDN, in a separate letter of protest. In either case, any remark should be made on completion of delivery or after discovery, depending on the type of claim. This will satisfy sellers’ need to receive complaints as soon as possible so that they may start investigations.
The second stage requires buyers to put the sellers on notice that they intend to proceed with the noted claim(s) within 14 days from the delivery date, which should provide buyers with sufficient time to get their documentation in order. The third stage is to initiate arbitration proceedings as prescribed in the contract.

BIMCO adds that work will continue over the summer with the aim of completing the bunker contract in time for presentation to BIMCO’s Documentary Committee in November.

Source: BIMCO

 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

Contracts

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

CFE to Lift Eight LNG Cargoes

Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume,

Legal

‘Maritime Spectrum’ of CMMI a Big Draw

For The Company of Master Mariners of India, the conference “Maritime Spectrum” that comes at the turn of each year has become a brand in itself, and each one

Panama Flag Approval for Seagull

Seagull Maritime has become the first overseas company to secure training centre approval from the Panama Maritime Authority following the PMA’s 2014 change of leadership.

Sino-Global to Acquire Tanker

Sino-Global Shipping America, Ltd. a shipping agency, logistics and ship management services company, today announced that it has entered into a Memorandum of Understanding (the "MOU"),

Ports

Abu Dhabi Ports Invests in Management Software

Abu Dhabi Ports is implementing a brand new terminal operating system (TOS) which will enhance the general cargo operations at the emirate’s ports, significantly

Sino-Global to Acquire Tanker

Sino-Global Shipping America, Ltd. a shipping agency, logistics and ship management services company, today announced that it has entered into a Memorandum of Understanding (the "MOU"),

COSCO Piraeus Pier III Inaugurated

The Inauguration of the Expansion of Pier III of COSCO Piraeus Container Terminal(PCT) was held yesterday. Premier Li Keqiang of China sent a congratulatory message, which was read by Mr.

Fuels & Lubes

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

CFE to Lift Eight LNG Cargoes

Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1397 sec (7 req/sec)