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Update on work to develop ETS Allowances Clause for SHIPMAN

The subcommittee tasked with the revision of BIMCO’s suite of third party management contracts continues its work to develop a standard Emission Trading Scheme Allowances (ETSA) Clause for use with the popular ship management agreement SHIPMAN.

Background

Emission Schemes are “cap and trade” schemes that cap the total amount of greenhouse gases to be emitted by certain vessels covered by the system.  Over time, this cap is reduced as an incentive to reduce greenhouse gas emissions through increased efficiency and the use of alternative fuels. In the... Please follow the link to continue reading.