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BIMCO to begin work on two new gas contracts

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LNG Industry,

BIMCO has announced that it is planning to commence work on two new gas-related contracts in early 2019: an LNG bunker purchase contract; and an LPG voyage charter party.

The international shipping association claims that it is doing so in an effort to increase the involvement of its Asian members. Both projects will be developed mainly be experts from the region, and managed by BIMCO’s Shanghai office, assisted by head office staff in Copenhagen, Denmark.

Grant Hunter, Head of Contracts and Clauses at BIMCO, said: “An alternative fuels contract and a voyage charter for LPG are two key projects which have global resonance.

“This is an opportunity for BIMCO to optimise its documentary work by sharing some of the project tasks among Asian membership resources.”

According to the statement, drafting teams for both projects are being recruited from Japan, China and Singapore, with further expertise coming from Europe-based members. Wei Zhuang, BIMCO’s Asia Regional Manager based in Shanghai, will head the project.

Zhuang said: “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.”

BIMCO claims that work on the LNG bunker purchase contract and the LPG voyage charter party will commence in January next year. It is expected that work will take approximately 18 months to complete.

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