The FuelEU Maritime Regulation is a part of the EU’s “Fit for 55” package intended to fight climate change by reducing greenhouse gas emissions in shipping. It aims to achieve a reduction in the EU’s net greenhouse gas emissions by at least 55% by 2030. It supplements the EU Emissions Trading System, CII ratings and other decarbonisation initiatives.
Get a quick overview of how BIMCO’s FuelEU Maritime Clause for Time Charter Parties supports owners and charterers in meeting the new regulations. From biofuel agreements to compliance cost risks, understand the essentials in just one minute.
On 1 January 2025, the FuelEU Maritime Regulation came into force. The regulation may require stakeholders to start taking measures now and the BIMCO FuelEU Maritime Clause for Time Charter Parties 2024 is developed to help stakeholders align their contractual frameworks. The clause was adopted by BIMCO’s Documentary Committee on 25 November.
The adoption of the clause is part of BIMCO’s continued commitment to support the shipping industry as it navigates the growing wave of decarbonisation regulations from the European Union and the International Maritime Organization (IMO). The clause was officially adopted by BIMCO’s Documentary Committee on 19 December.
WEBINAR RECORDING
In this webinar, Lars Robert Pedersen and Gudrun Janssens presented valuable insights into the complex and crucial Fuel EU Maritime Regulation.
Highlights included:
Understanding the Fuel EU Maritime Regulation
Compliance strategies
KEY CONSIDERATIONS FOR OWNERS AND CHARTERERS
The legal landscape surrounding the maritime industry is continuously evolving, with the latest development being the introduction of the FuelEU Maritime Regulation, aimed at accelerating the sector's uptake of renewable and low carbon fuels. In response, BIMCO has published the BIMCO FuelEU Maritime Clause for Time Charter Parties 2024. In this article, we examine the key elements of this clause that require detailed consideration. By exploring these nuances, we aim to provide stakeholders with a comprehensive understanding, enabling them to navigate this new clause successfully.
PODCAST RECORDING
Decarbonising maritime transport from "well to wake", the promise of the FuelEU Maritime Regulation. Effective from 1 January 2025, its purpose is to ensure that the greenhouse gas intensity of fuels used by the shipping sector will gradually decrease over time. But what wider impact will this have on the industry?
Alessio Sbraga, Partner at HFW and Stinne Taiger Ivø, Deputy at BIMCO joined Anders Langeland Johannessen on this episode of the Lockton Marine Podcast to discuss.
Listen to the podcast by kind permission of Lockton Marine.
WEBINAR RECORDING
Watch the recording of the BIMCO webinar with special guest Thomas Bock, Senior System Manager at ISCC, who explored the basics of fuel certification by going deeper into how the sustainability of feedstocks can be ensured, how fuels can be tracked through often complex supply chains, and ultimately how GHG emissions will be calculated and verified along the fuel’s complete life cycle.
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