BIMCO is pushing ahead with work on a new biofuels clause for time charter parties, aiming to give owners and charterers clear contractual terms for using alternative fuels.
The organisation’s drafting group — made up of owners, charterers, bunker suppliers and P&I clubs — has been meeting regularly to shape the clause. Work so far has centred on issues such as sustainability certification, fuel specifications, warranties on consumption, and how biofuels fit within existing speed and consumption provisions.
The group has also looked at practical aspects of biofuel use, including storage, sampling and testing, with limits on onboard storage among the recommendations being considered.
The clause is being designed to remain flexible for a range of fuel types and blends, including those above 30% biofuel that may bring extra regulatory requirements.
BIMCO is now inviting wider industry feedback through a sounding board before the text is finalised.
