ETS – SHIPMAN Emission Trading Scheme Allowances Clause 2023
20 February 2024The 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.
