BIMCO adopts methanol bunkering annex
Global shipping association BIMCO has adopted a methanol bunkering annex to its bunker terms.
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The annex was adopted by the Baltic and International Maritime Council’s (BIMCO) Documentary Committee, into its portfolio of contracts and clauses that support the maritime industry’s transition towards alternative fuels.
The annex introduces “new definitions” to support developments in the methanol bunkering landscape, BIMCO said.
It highlights the importance of sustainability certification to verify the source and environmental credentials of methanol under regulations like the FuelEU Maritime, the shipping association said.
“The annex enables parties to specify GHG [greenhouse gas] intensity limits, fossil comparators and methodologies for calculating emissions via the Election Sheet,” BIMCO added.
Owing to methanol’s toxicity and related safety hazards, BIMCO’s subcommittee has carefully evaluated its sampling and measurement methods.
The annex mandates the use of closed or remote sounding procedures for methanol bunkering to improve the safety of the crew involved in the operation.
“We’re continuing to develop and standardise supply terms for new fuels, with an Ammonia Annex to follow when the timing is right,” said Stinne Taiger Ivø, deputy secretary general & director of contracts at BIMCO.
A biofuels clause for time charter parties is also underway and expected later this year.
By Aparupa Mazumder
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