Business

BIMCO: ETSA and IOCD Clauses and updated GENCON adopted

BIMCO subcommittee in charge of the CII Compliance Clause for Time Charter Parties was asked to revisit certain aspects of the draft over the coming weeks, says BIMCO.

Published

4 years ago

May 26, 2022

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International shipping association BIMCO’s Documentary Committee on Tuesday (24 May) said it has approved two clauses and one contract for publication: The much-awaited Emissions Trading System Allowances (ETSA) Clause for Time Charter Parties 2022, the Infectious or Contagious Diseases (IOCD) Clause for Time Charter Parties 2022 and a revised version of GENCON.

The Documentary Committee (DC) meeting, which took place on 18 May 2022 in London, was the first physical gathering of BIMCO’s documentary approval body since the beginning of the pandemic, according to a BIMCO social media post.

“I am delighted that all the members of the DC were able to meet in person. Discussing face to face and in the same room is an important step in finding contractual solutions to the challenges faced by the shipping industry,” says DC Chairperson Nick Fell who is Executive Vice President, Corporate Services and General Counsel at BW Group.

Fell took over the chairmanship of the DC during the pandemic.

In addition to the ETSA and IOCD Clauses, the meeting marked the conclusion of a four-year revision process with the Committee’s final stamp of approval for GENCON 2022, the revised version of BIMCO’s most widely-used voyage charter party GENCON 1994.

All the new documents will be published shortly, accompanied by explanatory notes.

With respect to the equally much-awaited CII Compliance Clause for Time Charter Parties, the subcommittee in charge of the project was asked to revisit certain aspects of the draft over the coming weeks to make sure that a contractual solution is available soon.

This is particularly important for charter parties which extend into 2023, which is when the new rules come into force.

Mindful of the urgent need for the clause, which is aimed at providing a contractual solution regarding the MARPOL carbon intensity regulations, it was decided to hold an online meeting of the Documentary Committee in June with a view to adopting the clause.

The DC also heard progress reports about the various ongoing projects that are currently underway, including the revisions of ASBATANKVOY, WRECKSTAGE and SHIPMAN, the development of a new contract – AUTOSHIPMAN – based on SHIPMAN and aimed at providing the contractual framework for the third-party management of autonomous ships, and a new annex to the BIMCO Bunker Terms 2018 dealing with LNG bunkers.

Manifold Times had reported on 21 April on BIMCO’s stand on the allocation of responsibility for carbon pricing.

David Loosley, BIMCO Secretary General & CEO, was quoted saying in the case of a time charterparty, this responsibility should lie with the charterer, and under a voyage charterparty, it should be with the party that commits the ship to the voyage charter.

Photo credit: BIMCO
Published: 26 May, 2022

Winding up

Singapore: Notice of intended dividend issued for Xihe Holdings’ subsidiaries

Creditors will need to produce proofs of debt to liquidators of Da Xin Tankers and Nan Chiau Maritime by 5 August, according to Government Gazette notice.

Published

28 minutes ago

July 23, 2026

Admin

Two notices to declare the intended dividend of Xihe Holdings’ subsidiaries to their creditors have been posted on the Government Gazette on Wednesday (22 July).

The subsidiaries are Da Xin Tankers Pte Ltd and Nan Chiau Maritime Pte Ltd.

The following are the details of the notices of intended dividend:

Name of Company : Da Xin Tankers (Pte) Ltd (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 198400895W
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Name of Company : Nan Chiau Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No.: 200814296Z
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Photo credit: steve pb from Pixabay
Published: 23 July, 2026

Biofuel

South Korea: S-Oil launches B30-VLSFO bio bunker fuel supply

Company says it has established an integrated operating system in the Ulsan region covering the entire value chain, from feedstock procurement and blending to supply.

Published

31 minutes ago

July 23, 2026

Admin

South Korea: S-Oil launches B30-VLSFO bio bunker fuel supply

South Korean petroleum and refining company S-Oil on Wednesday (22 July) said it has started supplying B30 very low sulphur fuel oil (VLSFO), as the company seeks to support shipping’s decarbonisation efforts and growing demand for lower-carbon bunker fuels.

The company said its B30 VLSFO contains 30% sustainable biofuel blended with conventional VLSFO and can be used without requiring modifications to existing vessels, enabling shipowners to comply more readily with emissions regulations from the International Maritime Organization (IMO) and the European Union (EU).

S-Oil said it has established an integrated operating system in the Ulsan region covering the entire value chain, from feedstock procurement and blending to supply. The system combines VLSFO produced at its Onsan refinery with biofuel production facilities and storage infrastructure in the Ulsan region, allowing the entire process to be carried out within a single logistics hub.

According to the company, the integrated supply chain reduces transportation requirements during production while improving supply efficiency and reliability.

S-Oil also highlighted Ulsan Port as a strategic location for marine biofuel supply, noting the port has strong demand for bio-bunker fuels, particularly from car carriers, enabling prompt and stable deliveries to key customers.

An S-Oil official stated: “In the bio-marine fuel market, not only product quality but also securing a stable supply of raw materials and an efficient supply system are important competitive advantages.

“Based on our existing bunkering business capabilities and the excellent supply infrastructure in the Onsan area, we plan to supply stable and competitive low-carbon fuel.”

Photo credit: S-Oil
Published: 23 July, 2026

Decarbonisation

Yang Ming and PSA to develop integrated sea-land decarbonisation solutions

Both will explore solutions spanning emissions measurement and verification, a digital Book-and-Claim framework, and a joint maritime-land inset token package.

Published

32 minutes ago

July 23, 2026

Admin

Yang Ming and PSA to develop integrated sea-land decarbonisation solutions

PSA International (PSA) on Monday (20 July) said it has signed a Memorandum of Understanding (MoU) with Yang Ming Marine Transport Corporation (Yang Ming) to jointly accelerate the adoption of low-carbon solutions across the maritime value chain.

Beyond emissions measurement and verification, the collaboration will focus on a digital Book-and-Claim framework and a joint maritime-land based inset token package.

“This synergy provides cargo stakeholders with a transparent and accountable sea-land pathway to achieve their decarbonisation targets,” PSA said on its website.

Yang Ming launched the green transport service, EcoSea+. This initiative integrates Yang Ming’s low-carbon navigation capabilities to empower customers with a flexible and transparent strategy to effectively reduce their Scope 3 transportation emissions. By joining forces with PSA, Yang Ming is able to expand the impact of these sustainability actions beyond the ocean.

Building on its position as a global port operator, PSA advances its Node to Network strategy through integrated port and supply chain capabilities that enable a green network of terminal and landside operations to reduce end-to-end supply chain emissions.

The agreement was officially signed by Mr Ivan Chiang, Chief Logistics Officer & Senior Vice President of Yang Ming, and Mr Eddy Ng, Group Head of Operations, Technology and Sustainability of PSA International.

Mr Ong Kim Pong, PSA International Group CEO, said, “As responsible stewards of tomorrow, PSA is committed to delivering sustainable impact across the global port and supply chain ecosystem.

“Tackling the challenges arising from climate change will require the collective efforts of all players in the maritime supply chain sector. We are excited to partner Yang Ming on the decarbonisation of global supply chains and support the transition towards a more sustainable global economy.”

Photo credit: PSA International
Published: 23 July, 2026