BIMCO adopts new CII clause for Voyage Charter Parties

Overview

The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a new CII Clause for Voyage Charter Parties. The clause was adopted by BIMCO’s Documentary Committee on 11 October and is the latest addition to BIMCO’s portfolio of carbon clauses.
“As the shipping industry works towards decarbonisation, the need for new contracts and clauses increases. We are working constantly to ensure that BIMCO’s contracts and clauses are fit for purpose as the regulatory landscape changes,” says Nicholas Fell, Chairperson of BIMCO’s Documentary Committee. 
 
In November 2022, BIMCO’s Documentary Committee adopted the CII Operations Clause for Time Charter Parties ahead of the IMO’s carbon intensity indicator (CII) regulation which entered into force on 1 January 2023. After its publication a new subcommittee was tasked with developing a CII Clause for Voyage Charter Parties which has now been adopted.  
 
These clauses aim to facilitate collaboration and provide certainty between shipowners and charterers as new regulations come into force, changing the way the industry operates to assist compliance and cut emissions. 
 
“The new CII clause focusses on course adjustment and speed reduction and includes commercial elements such as data sharing. Throughout the process, drafts were shared with the Documentary Committee and a sounding board consisting of charterers and traders for consultation and comments,” says Stinne Taiger Ivø, Director, Contracts & Support at BIMCO. 
 
Other carbon clauses from BIMCO include the EEXI Transition Clause, published in December 2021, and the Emissions Trading System Allowances (ETSA) Clause for Time Charter Parties, published at the end of May 2022. 

 

Mette Kronholm Frænde
in Copenhagen, DK

Coronavirus

Access BIMCO's COVID-19 related articles and advice.

Read more

VPS Bunker Alerts

Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples and have kindly permitted BIMCO’s Members to access this information.

The Bunker Alerts are not intended to be an evaluation of overall bunker quality in the port or area concerned, but usually highlight a specific parameter within the fuel which has raised a quality issue.

Latest piracy reports

 

Latest industry releasable threats

 

Latest Related News

No related news was found

View All News
 

ELSEWHERE ON BIMCO

Contracts & Clauses

All of BIMCO's most widely used contracts and clauses as well as advice on managing charters and business partners.

Learn about your cargo

For general guidance and information on cargo-related queries.

More about cargo

BIMCO Publications

Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.

About a new business partner

We can help members check new business partners. We also help to recover millions of USD (undisputed) funds every year.