Investor Presentaiton
Bunkers on delivery/redelivery
Existing Charterparties: It is almost customary that charterers should redeliver
the vessel with the same quantity of fuel as on delivery. However, this practice
will most likely result in the violation of the IMO's 2020 legal requirements. Thus,
both parties have to agree to a different arrangement, where the charterer
will have to redeliver the vessel with an appropriate quantity of fuel and at the
same time, be compliant with the legal requirements.
Future Charterparties:
Similar as above, new charterparties, will have to
pursue an alternative arrangement when it comes to bunkers
delivery/redelivery clauses. Such alternative arrangement could be for the
vessel to be redelivered with sufficient fuel to reach to the next bunkering port
where compliant fuel will be available.
It is important that parties when agreeing to such clauses, have to consider
the price at which fuel is taken over on redelivery and be in compliance with
the post-2020 requirements.
michaelkyprianou
Advocates Legal ConsultantsView entire presentation