BIMCO on Monday said it is planning to develop two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.
The new contracts, to be developed mainly by experts from Asia and managed by BIMCO’s Shanghai office, assisted by head office staff in Copenhagen, is in an effort to further increase the involvement of its Asian members.
“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.
Photo credit: BIMCO
Published: 21 November, 2018
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
Poll shows market participants think Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.