BIMCO’s Documentary Committee has adopted a Methanol Annex to its Bunker Terms 2018, marking another step in supporting the maritime industry’s ongoing transition toward alternative fuels and decarbonization.
The newly adopted annex expands BIMCO’s suite of standardized contracts and clauses designed to help the industry adapt to changing fuel technologies and emerging sustainability regulations.
According to BIMCO, the Methanol Annex introduces updated definitions that reflect evolving bunkering practices and the growing emphasis on sustainability certification. Such certification aims to verify the source and environmental credentials of marine fuels, in alignment with regulatory frameworks like the FuelEU Maritime Regulation.
Nicholas Fell, Chairperson of BIMCO’s Documentary Committee, noted that the annex was developed through close consultation with industry stakeholders and technical experts to ensure it meets both practical and legal requirements associated with methanol as a marine fuel. He added that the annex “reflects current industry practices and anticipates future developments in the regulatory area.”
The Methanol Annex allows contracting parties to specify greenhouse gas (GHG) intensity limits, fossil comparators, and emission calculation methodologies through its Election Sheet. This flexible structure enables adaptation to future regulatory changes and allows users to agree on parameters relevant to each contract.
Given methanol’s toxic properties and related safety risks, the annex includes strict provisions for sampling and measurement procedures. It also mandates the use of closed or remote sounding methods during methanol bunkering to improve crew safety throughout operations.
Stinne Taiger Ivø, BIMCO’s Deputy Secretary General and Director of Contracts, highlighted that the new Methanol Annex builds on the success of the LNG Annex adopted in 2023. She added that work is already underway on additional standardization tools, including an Ammonia Annex and a Biofuels Clause for Time Charter Parties, expected later this year.
The introduction of the Methanol Annex underscores BIMCO’s commitment to facilitating the safe and efficient adoption of low-carbon marine fuels, aligning industry documentation with the evolving landscape of global maritime decarbonization.
