What is the story about?
What's Happening?
BIMCO has adopted a Methanol Annex to its Bunker Terms 2018, supporting the maritime industry's transition to alternative fuels. The annex includes new definitions and sustainability certification requirements, reflecting developments in the bunkering landscape. It allows parties to specify GHG intensity limits and methodologies for emissions calculations. The annex addresses safety concerns related to methanol's toxic nature, mandating closed or remote sounding procedures for bunkering operations.
Why It's Important?
The adoption of the Methanol Annex by BIMCO represents a significant step towards maritime decarbonization. As the industry seeks sustainable fuel alternatives, methanol offers a viable option for reducing emissions. The annex provides a framework for safe and efficient methanol bunkering, aligning with regulatory requirements and industry practices. This development supports the industry's efforts to meet environmental goals and enhance sustainability, contributing to global decarbonization initiatives.
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