BIMCO’s Documentary Committee has approved a new Methanol Annex to its Bunker Terms 2018, adding to the organisation’s growing suite of contracts and clauses that facilitate the maritime industry’s shift toward alternative fuels and decarbonisation.
The annex introduces new definitions aligned with current bunkering developments and places strong emphasis on sustainability certification to verify fuel origin and environmental credentials, in line with regulations such as FuelEU Maritime.
Nicholas Fell, Chairperson of the Documentary Committee, said the annex was developed in close consultation with stakeholders and experts to address both the practical and legal requirements of methanol as a marine fuel, reflecting current practices while anticipating future regulatory needs.
The Methanol Annex allows parties to specify GHG intensity limits, fossil comparators and emissions calculation methodologies through an Election Sheet, providing flexibility to adapt to evolving regulations.
Due to methanol’s toxic nature, the annex includes strict requirements for safe sampling and measurement, and mandates closed or remote sounding procedures to protect crew during bunkering operations.
“This builds on the momentum of the LNG Annex adopted in 2023,” said Stinne Taiger Ivø, Deputy Secretary General & Director of Contracts at BIMCO. “An Ammonia Annex will follow when the timing is right, and a Biofuels Clause for Time Charter Parties is also expected later this year.”