LNG Bunker Terms – Developing Effective LNG Bunkering Terms and Conditions
Bunker traders and brokers can add distinct value to LNG bunker provisions. Effective LNG bunker provision turns on having counterparties which are committed to knowing the necessary operations closely, and continually. As the LNG bunker market expands along with the number of LNG buyers, bunker traders and brokers can and should be able to meet their buyers’ unique needs, just as they have with what have been considered ‘conventional’ bunkers. Given the increase in LNG bunker demand and availability, an increasing number of bunker traders and brokers have begun to enter, or are considering moving into, the LNG bunker market. Selling LNG bunkers successfully and profitably, however, requires effective LNG bunkering terms and conditions treating LNG as a unique product. In this article, Steve Simms presents important legal and contractual considerations for both traders and brokers who want to enter and then operate successfully in the LNG bunkering market.
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