ETS – Emission Scheme Surcharge Clause for Voyage Charter Parties 2023

This clause is one from a suite of three clauses developed by the subcommittee for the voyage charter party context. The objective was to provide industry stakeholders with the flexibility to choose a procedure suitable for their specific trade and business. You should consider whether this Emission Scheme Surcharge Clause for Voyage Charter Parties 2023 is the one best suited to your specific circumstances or whether the ETS - Emission Scheme Freight Clause for Voyage Charter Parties 2023 or ETS - Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023 would be more appropriate. As the title suggests, this ETS – Emission Scheme Surcharge Clause for Voyage Charter Parties 2023 deals with all costs arising from the surrender of emission allowances for the voyage by the payment of an Emission Scheme Surcharge to the owners. The basis of the clause is that the voyage charterer will be the one effectively paying the owner for the emission allowances required for the voyage. The owners then remain responsible for surrendering the appropriate number of emission allowances in accordance with the applicable Emission Scheme.

ETS – Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023

This clause is one from a suite of three clauses developed by the subcommittee for the voyage charter party context. The objective was to provide industry stakeholders with the flexibility to choose a procedure suitable for their specific trade and business. You should consider whether this Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023 is the one best suited to your specific circumstances or whether the ETS - Emission Scheme Freight Clause for Voyage Charter Parties 2023 or ETS - Emission Scheme Surcharge Clause for Voyage Charter Parties 2023 would be more appropriate. As the title suggests, this ETS – Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023 deals with the transfer of emission allowances. The basis of the clause is that the voyage charterer will be the one transferring emission allowances to the owners for the voyage. The owners, as a matter of contract, then remain responsible for surrendering the appropriate number of emission allowances in accordance with the applicable Emission Scheme.

Shipmanagers and owners ponder ETS contractual responsibilities

Shipmanagers and owners, assisted by legal and insurance experts, are grappling with the complexities of drafting a clause for SHIPMAN that sets out the responsibilities for administering and surrendering emissions allowances under an Emissions Trading Scheme (ETS). Although the clause is being written to work with any ETS, the primary focus is on the EU ETS, which is the world’s largest carbon trading scheme, soon to embrace shipping.

European Union Regulations on Liberia - Lifted

European Union Regulations on Iran

European Union Implementation Measures

BIMCO aiming to complete CII and ETS Clauses for publication in May

Work continues apace to prepare two important carbon clauses for publication in May. The most of challenging of these tasks is the development of a CII Compliance Clause for Time Charter Parties. Technical, commercial and legal experts have been meeting weekly for many months to try to find a practical solution for owners and operators operating under the new CII regime. As of 2023, ships will enter an annually narrowing emissions “corridor” where owners and charterers will need to work closely together to ensure continuing compliance. The BIMCO CII Clause will need to balance the operational restrictions imposed on owners by the low carbon regime against allowing charterers to optimise the ship’s commercial activity during the charter period.

Sulphur emission control areas and national sulphur emission restrictions

Currently, four sulphur emission control areas (ECAs) are designated under MARPOL Annex VI. In addition, national sulphur emission control areas have been designated in some countries.

European Union Regulations on Ivory Coast - Lifted

The BIMCO Ship Manager Advisory Panel expresses concerns about EU ETS

At the recent BIMCO Ship Manager Advisory Panel meeting the main topic was not surprisingly, the ongoing negotiations about t he future EU ETS.