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

3 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: Liquidator of Vanda Marine Services issues notice of dividend

First and final dividend of company is payable from 23 January at Rock Stevenson Pte Ltd, 8 Burn Road, Trivex #16-12, Singapore 369977, according to Government Gazette notice.

Published

3 hours ago

January 23, 2025

Admin

A notice was published in the Government Gazette on Thursday (22 January) regarding the first and final dividend to creditors of Vanda Marine Services Pte Ltd.

The following are details of the notice of dividend of the company:

Name of Company : Vanda Marine Services Pte Ltd(In Creditors’ Voluntary Liquidation)

Unique Entity No. / Registration No. : 201209660C

Address of Registered Office : 8 Burn Road, Trivex #16-12, Singapore 369977

Amount per centum : 23 per centum of all admitted ordinary claims

First and Final or otherwise : First and Final

When payable : 23 January 2025 onwards

Where payable : c/o Rock Stevenson Pte Ltd, 8 Burn Road, Trivex #16-12, Singapore 369977

Manifold Times previously reported several resolutions for Vanda Marine Services, including winding up the company voluntarily, were passed during an extraordinary meeting in March last year.

Photo credit: steve pb from Pixabay
Published: 23 January, 2025

Methanol

China launches first simulation training platform for methanol bunkering operations

Through the real-life simulation, the platform helps ship operators improve their safety management and emergency response capabilities, improving the development of green shipping technologies.

Published

3 hours ago

January 23, 2025

Admin

China launched its first training platform to simulate methanol bunkering operations at Putuo District, Zhoushan on 15 January.

The Methanol Bunkering System Simulation Training Platform V1.0 was created to fill technical gaps in domestic methanol bunkering training and exercises, in light of the growing demand and popularity for methanol in the shipping industry.

Through the real-life simulation, the platform helps ship operators improve their safety management and emergency response capabilities, improving the development of green shipping technologies.

The platform was jointly developed by Zhejiang Ocean-U New Energy System Engineering and Zhejiang Ocean University.

At the press conference , Zhejiang Ocean-U New Energy System Engineering successfully signed its first purchase agreement with Seacon Ships Management (Zhejiang), making Seacon the first customer to purchase the platform service.

Wang Guofeng, chairman of Seacon, said that the platform has great potential in improving crew operating efficiency and safety, and he looks forward to deeper cooperation with Zhejiang Ocean-U New Energy System Engineering in the future.

Professor Lu Jinshu, Vice President of Zhejiang Ocean University, said they will continuously improve the platform to contribute more in the field of green shipping solutions to the industry.

Photo credit: Manifold Times
Published: 23 January, 2025

Hydrogen

Klaipėda Port launches Lithuania’s first hydrogen-powered vessel

Tanker’s power system, which will consist of two electric motors powered by 2,000 kWh batteries and a hydrogen fuel cell system, will enable it to operate for up to 36 hours without additional power charging.

Published

3 hours ago

January 23, 2025

Admin

Klaipėda Port launches Lithuania’s first hydrogen-powered vessel

Klaipėda State Seaport Authority on Wednesday (22 January) said the first ever green hydrogen and electricity-powered ship in Lithuania has been moved from shipyard into water.

Leaving no trace on the environment, it will clean other vessels entering the port, accepting waste from them.

According to the current rules, vessels are obliged to hand over the waste they produce when they arrive and before they leave Klaipėda Port. The Seaport Authority was entrusted with the collection of the waste, and the company decided to use modern and environmentally friendly equipment to further improve the quality of the ship waste collection service.

The tanker’s main function is to collect storm water, sewage, sludge and garbage, as well as to ensure efficient waste management. The ship will be equipped with special tanks and a modern rainwater treatment plant that will allow the treated water to be transferred to the city’s sewage treatment plants. The tanker will be ready to work around the clock and collect up to 400 cubic metres of liquid waste.

The tanker is 42 metres long and 10 metres wide. The ship’s power system will consist of two electric motors powered by 2,000 kWh batteries and a hydrogen fuel cell system. Depending on the intensity of the work, the tanker will be able to operate in the port of Klaipėda for up to 36 hours without additional power charging.

This ship building project with a total value of EUR 12 million (USD 12.5 million) has been commissioned by the Port Authority and is being built by West Baltic Shipyard together with Baltic Workboats under a joint operating agreement.

“We have not only launched a tanker, but also a new approach to port operations – cleaner, smarter and more environmentally friendly. This first ever hydrogen and electricity-powered ship is not only an innovative technological solution, but also an important step in strengthening Lithuania’s image as a modern maritime nation,” said Algis Latakas, Director General of Klaipėda State Seaport Authority.

“At the moment, the tanker is getting used to the seaport water, so to speak, and at the end of the year we expect it to start its important mission of taking care of the clean seaport environment. Such a decision will not leave a footprint on nature, but it will certainly leave a strong mark on our path to a greener future.”

In June last year, a symbolic keel-laying ceremony at the West Baltic Shipyard of the West Baltic Shipyard Group marked the start of the ship’s construction. To date, the hull has been fabricated and painted, with piping, valves, coolers, shaft lines, rudder feathers, heat and fire insulation installed.

Once the tanker is moved into the water, the engine room equipment will be installed, the interior of the wheelhouse will be redecorated, the electrical wiring and the main electrical engines will be installed, the hydrogen system will be installed and other work necessary for the operation of the ship will be carried out.

Photo credit: Klaipėda State Seaport Authority
Published: 23 January, 2025