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Bimco highlights bunker charter party issues to UAE shipping community ahead of IMO 2020

Charter party issues are a major concern ahead of the IMO 2020 regulation and these were highlighted the UAE shipping community by Bimco at seminar hosted by the Emirates Maritime Arbitration Centre (EMAC).

Bimco's Bunker Terms 2019 seminar sought to ensure that parties pay attention to terms that work for the purchase and supply of marine fuels to ships when the 0.5% sulphur cap takes effect.

“The shipping industry is in need of contractual clarity and standard contracts and clauses to assist in a period of big change for the shipping community,” said Erik Jensby of Bimco, who presented the seminar.

The seminar further shed some light on the transition of fuels specific to time charter parties that are in place and will overlap the sulphur cap application date.

Read more: Legal aspects in charter party lack clarity ahead of IMO 2020

“Hosting Bimco for a seminar on a very relevant matter, is yet another way that EMAC is able to add value to maritime stakeholders in the region who may seek alternative dispute resolution support in future,” said Majid Obaid bin Bashir, acting chairman and secretary general of EMAC.

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