Danish shipping association Bimco has developed a contractual clause to support time charter parties ahead of FuelEU Maritime regulations that come into force at the beginning of 2025.
The clause designates the shipowner to be the party responsible for FuelEU Maritime. Bimco said the clause is intended to be the standard applicable for most scenarios and commercial relationships.
Among the recommendations, the clause states it is mandatory for a shipowner to present the vessel's compliance balance for the previous two years and in the current year.
The FuelEU maritime regulation will start in 2025 and will require that ships traveling in, out of, and within EU territorial waters gradually reduce their greenhouse gas (GHG) intensity on a lifecycle basis. It will start with a 2pc reduction in 2025, 6pc in 2030, and will be 80pc by 2050, all compared with 2020 levels. The regulation applies to all commercial ships above 5,000 gross tonnes (GT) carrying passengers or cargo.
"The clause we have adopted today is the result of a collaborative process between owners, charterers, Protection and Indemnity (P&I), legal experts, and other stakeholders," said Bimco's documentary committee chairman Nicholas Fell.
Bimco has also already adopted a clause for emission trading allowances under the EU emissions trading system (ETS) for ship management agreements, voyage charter parties, and contracts of affreightment.
