The Documentary Committee of BIMCO has adopted a Methanol Annex to its Bunker Terms 2018. The annex is the latest addition to the BIMCO portfolio of contracts and clauses that support the maritime industry’s transition towards alternative fuels and decarbonization.The annex introduces new definitions to reflect ongoing developments in the bunkering landscape.
The Documentary Committee of BIMCO adopted a standard clause aimed at addressing contractual uncertainties that may arise from the United States Trade Representative’s (USTR) Notice of Actions to impose fees on Chinese-related ships calling US ports.A BIMCO subcommittee comprising legal and commercial experts began working on the clause at the start of June
On January 1, 2025, the FuelEU Maritime Regulation will come into force. The regulation may require stakeholders to start taking measures now and the BIMCO FuelEU Maritime Clause for Time Charter Parties 2024 is developed to help stakeholders align their contractual frameworks. The clause was adopted by BIMCO’s Documentary Committee on November 25, 2024.
ESAB announced the 12 recipients of the 2025 $5,000 scholarships, awarded through a collaboration with the American Welding Society (AWS) Foundation. The scholarships, made possible by ESAB’s Future Fabricators program, support students across North America pursuing welding certifications and degrees.ESAB developed its Future Fabricators Program to support aspiring welders and fabricators.
The Documentary Committee of BIMCO has approved revisions to its War Risk Clauses to reflect changes in the geopolitical challenges facing the shipping industry.The Documentary Committee reviewed the existing BIMCO War Risk Clauses and agreed on the updated versions, BIMCO War Risk Clause for Voyage Charter Parties 2025 (VOYWAR 2025) and the BIMCO War Risk Clause for Time Charter Parties 2025
U.S. President Donald Trump's policies that have rattled stocks around the world are benefiting Australian shipbuilder Austal, analysts said on Wednesday.Shares of the company, which supplies defence and commercial vessels to the Australian and U.S. navies among other clients, surged 35% in the three months ending March, clocking their best quarterly gains in nearly two years since June 2023.
Navig8 TopCo Holdings Inc. announced that it has been acquired by ADNOC Logistics and Services plc.Navig8 is an international shipping pool operator and commercial management company with a modern owned fleet of 32 tankers and a presence in 15 cities across five continents. The Navig8 Group also holds investments in technical management companies