World News
New BIMCO Clause Aims to Avoid Ship Arrests by Suppliers Over Unpaid Bunker Bills
BIMCO says it has released a new clause that it hopes will discourage fuel suppliers from arresting ships in order to claim a charterer's unpaid bunker bills.
The Bunker Non-Lien Clause will require that before agreeing on any bunker supply, charterers must put their suppliers on notice that the bunkers will be bought "solely on the charterers' account."
If charterers refuse or fail to do so, then a ship master can choose not to take delivery of the bunkers, said Grant Hunter, chief officer of legal and contractual affairs at BIMCO.
"The clause acts as a useful safety-net for owners when concluding a time charter in that solid charterers should have no problem agreeing to such a clause because they will of course pay for the bunkers they order," he said.
"However, if the financial standing of a charter is in doubt, then they may be more reluctant to accept the responsibilities and liabilities imposed by the clause and this should create a warning flag to owners."
Currently, masters already stamp bunker delivery notes with a statement that confirms that bunkers were bought by the charter.
However, Hunter said, the note has been generally ineffective once fuel has already been delivered.
Most recently, a bunker tanker was arrested through an action brought by Singaporean company Hin Leong Trading in an attempt to recover unpaid bunker bills left behind by OW Bunker.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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