Category Archives: Bunkerspot
LNG Bunker Terms – Developing Effective LNG Bunkering Terms and Conditions
Bunker traders and brokers can add distinct value to LNG bunker provisions. Effective LNG bunker provision turns on having counterparties which are committed to knowing the necessary operations closely, and continually. As the LNG bunker market expands along with the number of LNG buyers, bunker traders and brokers can and should be able to… Read More »
FONAR Compliance: Getting it Right
Bunker suppliers, traders, and brokers must now be FONAR: Fully On Notice About Requirements. With the prohibition on using non-IMO 2020 compliant fuels coming into force on 1 January 2020, Steve Simms of Simms Showers takes a forensic look at FONARS – and finds some of the wording open to interpretation The International Maritime… Read More »
Bunker Blending Liability: Cut to the Chase
What, if any, liability is there for suppliers of blend stock or cutter stock – or for those who deliver faulty blends – to those damaged by non-compliant blends? The Houston-sourced, blended fuel quality problems were powerful trouble for the many suppliers, traders, charterers and owners they affected. The Houston problem seems to have… Read More »
Bunker Claims Deadlines: Timed Out?
Post-2020, there will be fuel blending to meet the global 0.50% Sulphur content requirements. That brings the issue of fuel quality claims sharply into focus. An estimate is that at least one out of every 140 bunker provisions causes vessel machinery damage and a central part of the disputes involves contractual time deadlines to… Read More »
BIMCO Bunker Terms 2018
The 2018 Terms successfully advance the industry-wide debate that BIMCO’s 1995 Fuelcon began. It is essential now to continue the debate, particularly during the short time until 2020. On 2 May 2018, the BIMCO Documentary Committee approved the BIMCO Bunker Terms 2018. The primary goal for what is now the 2018 Terms was to… Read More »
Bunker Delivery Notes (BDNs): Thinking Outside the Box
01 January 2019 is the date by which all bunker suppliers and their customers subject to MARPOL Annex VI must use new bunker delivery notes (BDN). The new BDN raises a number of issues that suppliers and traders would do well to address. Bunker suppliers and traders must appreciate that they increasingly will be… Read More »
Time Lapse: Today’s Lessons Continue from the OW and Hanjin Insolvencies
OW Bunkers’ and Hanjin Shipping’s bankruptcies continue to be wake-up calls for the bunker industry and wider maritime sector. Bunker traders, brokers and suppliers, and those in the wider maritime industry, must learn the OW and Hanjin lessons now because there will be other and perhaps larger future insolvencies. The OW and Hanjin impact,… Read More »
Enforcement of 2020 Sulfur Limits: Bunker Traders and Suppliers in the Crosshairs – Game On
Bunker traders and suppliers must be aware that sooner than they expect, they will be targets of enforcement of the 2020 world wide bunker sulfur (sulphur) content requlations. They must make sure that they provide only compliant fuel to their customers. In this article, Steve Simms presents the competing forces which are involved in… Read More »
Digital Bunker Delivery Notes ( BDNs / BDRs): Trash the Paper!
Bunker delivery notes (BDNs, or BDRs – bunker delivery receipts) remain on the of the few parts of a bunkering transaction still done on paper. This is despite the widespread digitization of all other aspects of the bunkering industry. Paper is lost, it takes up space, and paper entries easily changed or even counterfeited…. Read More »
The Future Now After OW: Assuring “Anni Mirabilis” With Lessons from “Anni Horribilis”
How can – and must – bunker brokers and suppliers learn now from the OW bunkers collapse, and change their operations to anticipate the next, certain insolvency in the bunkering industry? Simms Showers Principal Steve Simms in this article, presents steps that those in the bunkering industry must take now to implement the lessons… Read More »
