BIMCO BUNKER TERMS 2018

This 2018 edition of BIMCO’s bunker contract is the result of a thorough process involving buyers, traders and suppliers as well as legal and insurance experts. Their objective was to create a standard agreement designed to gain the widest possible adoption by the industry by offering a fair and viable alternative to suppliers’ own terms and conditions.

BUNKER TERMS 2018 – Standard Bunker Terms and conditions

Explanatory Notes

BIMCO

BIMCO is the world’s largest direct-membership organisation for shipowners, charterers, shipbrokers and agents. In total, around 60% of the world’s merchant fleet is a BIMCO member, measured by tonnage (weight of the unloaded ships).

The organisation has NGO status and is based in Copenhagen, Denmark, with offices in Athens, Singapore and Shanghai.

With around 1,900 member companies across 120 countries, from the largest shipowners in the world to small local port agents and law firms, BIMCO represents a wide range of maritime companies and organisations.

BIMCO’s goal is to secure a level playing field for the global shipping industry. BIMCO therefore works to promote and secure global standards and regulations for the maritime sector. The organisation’s century long effort into creating standard contracts and clauses is an expression of that aim.