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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Contracts

India Buys 4 P-8I Maritime Planes

India has inked a deal with the US defence and aerospace giant Boeing to procure four more Poseidon-8I (P-8I) long-range surveillance and anti-submarine warfare

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

Legal

Guzmán Re-elected Harbor Commission President, Long Beach Port

Harbor Commission President Lori Ann Guzmán was re-elected Monday evening to serve a second one-year term leading the board that oversees the Port of Long Beach, the nation’s second-busiest seaport.

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

U.S. Backs S. China Sea Bilateral Talks

U.S. Secretary of State Kerry says backs bilateral talks; Philippines says dispute does not involve United States. U.S. Secretary of State John Kerry said on

Ports

APL Introduces Felixstowe Express Service for Asia-Europe Trade

APL, part of the CMA CGM Group, has announced the launch of the Felixstowe Express Service (FEX), a new weekly service that connects the key ports of China, Europe

DP World Eyes Taiwan Port

Global marine container terminal operator DP World  will help to expand the development of Kaohsiung Port’s Terminal 7, which is owned by the state run Taiwan International Ports Corporation (TIPC),

Panama Canal: Assessing the Risk & Reward

The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016.

Fuels & Lubes

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

Gulf Petrochem Group Expands European Bunker Operations

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht.

Fuel Consumption, Emissions Monitoring Software Updated

As part of the ongoing Blue Star Delos Renewable Energy Innovation Project, Eco Marine Power (EMP) stated that the Aquarius Management & Automation System (MAS)

 
 
Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1483 sec (7 req/sec)