BIMCO Search Results

Results for:CO2 emissions

Showing 1 - 10 of 200

Reset Filters

Filter by area
Filter by location
Filter by content

Sanctions Clause for Container Vessel Time Charter Parties 2021

08 November 2023

The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.

Sanctions Clause for Voyage Charter Parties 2020

08 November 2023

The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.

Sanctions Clause for Contracts of Affreightment (GENCOA) 2022

08 November 2023

The sanctions landscape has grown increasingly complex. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in contracts of affreightment are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes.

New emissions-strategy adopted at IMO

13 April 2018

BIMCO is very satisfied with the Green House Gas (GHG) strategy adopted by the International Maritime Organization (IMO) at the Marine Environment Protection Committee on April 13. The strategy outlines a target to reduce GHG emissions by at least 50% by 2050 compared to 2008 while pursuing efforts towards phasing them out.

Shipping industry unites to propose ambitious CO2 reduction objectives to global regulator

22 June 2017

Four major international trade associations – BIMCO, INTERCARGO, International Chamber of Shipping (ICS) and INTERTANKO – have made a joint proposal to the IMO concerning ambitious CO2 reductions by the international shipping sector, which is responsible for transporting about 90% of global trade and 2.2% of the world’s annual man-made CO2 emissions.

ETS – SHIPMAN Emission Trading Scheme Allowances Clause 2023

20 February 2024

The purpose of this clause is to allocate the costs and responsibilities for obtaining, transferring and surrendering emission allowances for ships operating under an emission scheme, such as the EU Emissions Trading System (ETS), in a ship management context. The clause has been developed for use with any applicable emission scheme. It caters, on the one hand, for circumstances where the owners are the responsible entity for compliance and, on the other, for circumstances where the managers are the responsible entity either because the applicable emission scheme makes them the responsible entity or, as permitted by the EU ETS, the managers have assumed this responsibility by agreement between the parties.