Baltic and International Maritime Council (BIMCO) has unveiled two bunker clauses related to the International Maritime Organization’s (IMO) global sulphur limit rule for marine fuels, which is scheduled to come into force on 1 January 2020.
Time Charter Parties clauses include BIMCO 2020 Marine Sulphur Content and BIMCO 2020 Fuel Transition.
Clauses have been developed by a group of people comprising shipowners, charterers, bunker suppliers, Protection and Indemnity (P&I) clubs and legal experts.
The 2020 Marine Fuel Sulphur Content Clause is a replacement of BIMCO Fuel Sulphur Content Clause 2005.
“The new 2020 Fuel Transition Clause is designed to handle the switching of using marine fuel with sulphur content from the current 3.50% to 0.50%.”
BIMCO Contracts and Clauses head Grant Hunter said: “By making the 2020 Marine Fuel Sulphur Content Clause part of the Suite of Standard Bunker Clauses, it means that we have been able to keep the revised clause short and simple.
“It is written as a straightforward compliance provision with the sulphur content requirements of MARPOL Annex VI.”
The new 2020 Fuel Transition Clause is designed to handle the switching of using marine fuel with sulphur content from the current 3.50% to 0.50%.
Shipowners and charterers are advised to begin the switching process before 1 January 2020 to ensure an easy transition.
Using the 2020 Fuel Transition Clause, shipowners and charterers are able to divide responsibilities and liabilities among them to manage the remaining stocks of fuel that will no longer be useful under the new IMO rule.