Marine Link
Monday, December 17, 2018

BIMCO Eyes Asia with New Gas Contracts

Maritime Activity Reports, Inc.

November 19, 2018

File Photo: BIMCO

File Photo: BIMCO

Baltic and International Maritime Council (BIMCO) will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.

A press release from the largest of the international shipping associations representing shipowners said that it is planning to develop the new contracts in Asia in an effort to further increase the involvement of its Asian members. Both projects will be developed mainly by experts from the region and managed by BIMCO’s Shanghai office, assisted by head office staff in Copenhagen.

“An alternative fuels contract and a voyage charter for LPG are two key projects which have global resonance,” says Grant Hunter, Head of Contracts and Clauses at BIMCO.

“This is an opportunity for BIMCO to optimise its documentary work by sharing some of the project tasks among Asian membership resources,” Hunter says.

Drafting teams for the two projects are being recruited from Japan, China and Singapore with additional expertise from European based members. The project will be headed by Wei Zhuang, BIMCO’s Asia Regional Manager based in Shanghai.

“I’m looking forward to bringing some of our important documentary work to the Asian region where there is solid demand for BIMCO’s contracts and clauses,” Zhuang says.

Work on the LNG Bunker Purchase Contract and the LPG Voyage Charter Party will begin in January 2019 and is expected to take approximately 18 months to complete.

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News