BIMCO, a leading international shipping association, has responded to impending changes in environmental regulations by introducing new clauses in its ship management agreement and voyage charter parties. These clauses address the evolving landscape of emission trading schemes (ETS) and aim to foster collaboration, clarity, and compliance within the maritime industry.
BIMCO’s Response to Emission Regulations
In anticipation of the extension of the EU Emissions Trading System (EU ETS) to cover CO2 emissions from larger ships entering EU ports from January 1, 2024, BIMCO’s Documentary Committee has adopted innovative clauses. These include an ETS Allowances Clause for the SHIPMAN agreement and three ETS clauses tailored for Voyage Charter Parties. These measures intend to streamline responsibilities, allocate costs, and facilitate adherence to emission trading schemes, ensuring adaptability to future regulatory frameworks.
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Source: BIMCO
