BIMCO to create first CO2 time charter party

BIMCO has started work on developing a new time charter party specifically designed for the maritime transportation of carbon dioxide (CO2). This ‘industry first’ will be particularly relevant for the emerging carbon capture and storage (CCS) market, which is part of global efforts to combat climate change. Christian Hoppe, General Counsel highlights that the target

Six shipping organisations highlight IMO’s CII inadequacies

Not since the introduction of the global sulphur cap at the start of the decade has an International Maritime Organization (IMO) regulation attracted such criticism as the Carbon Intensity Indicator (CII). Six of shipping’s top organisations have issued a joint industry policy statement this week on how the CII can be tweaked, the latest in

IBIA collaborates with BIMCO on fuel and maritime challenges

IBIA – The International Bunker Industry Association and BIMCO have signed a Memorandum of Understanding (MoU) to collaborate on some of the monumental challenges and opportunities within the areas of bunker, marine energy and maritime sectors and help facilitate shipping’s decarbonisation efforts. The parties have agreed to leverage their respective expertise and resources to develop

ClassNK releases new features for GHG emissions

ClassNK has released new features for its GHG Emissions Management Tool, “ClassNK ZETA (Zero Emission Transition Accelerator)”.  ClassNK ZETA is a tool for visualizing GHG emissions and CII ratings of ships and is used for over 5,000 ships. Based on data submitted to “ClassNK MRV Portal”, a system for fuel consumption reporting in compliance with

Container lines are leading the way with alternative fuels

Shipowners are investing in alternative fuel propulsion, but the availability of green and blue fuels will determine whether the IMO’s 2030 carbon goals are achieved, according to BIMCO. The shipping association’s latest forecast for green-power uptake has a positive outlook on alternative-capable and alternative-ready newbuild orders, especially in the container segment. About two percent of

BIMCO adopts four ETS clauses

The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU). To support the industry, shipping organisation BIMCO has developed a portfolio of new emission trading scheme (ETS) clauses. BIMCO’s documentary committee adopted a new emission trading scheme allowances clause for BIMCO’s ship management agreement,

BIMCO forecasts recycling of over 15,000 ships by 2032

Analysts have long been talking up prospects for an avalanche of vintage ships heading for demolition amid a period of growing green regulations.

Vessels fitted with scrubbers expected to increase

Despite a significant drop in the number of installations, the share of scrubber-fitted vessels is expected to increase in the coming years. BIMCO reported 399 onboard installations last year, a 24% decrease year on year, with scrubbers now installed on 13% of bulkers, tankers, and containerships. This percentage is set to rise, as 17% of

BIMCO says it will take advice onboard

Following widespread criticism from a host of shipping heavyweights over its Carbon Intensity Indicator operations clause for time charter parties, international shipping organisation BIMCO has said it will take the advice onboard. The BIMCO CII clause has been developed to help address the commercial complexities of the CII regulation entering into force on January 1.

Shipping companies criticize CII operations clause

Heavyweight shipowners and charterers, including Mediterranean Shipping Company (MSC), A.P. Moller – Maersk, Oldendorff Carriers, Trafigura and Vitol, have strongly criticised BIMCO’s Carbon Intensity Indicator (CII) operations clause, which makes charterers contractually responsible for the CII performance of their hired ships. New regulations on the carbon intensity of international shipping will come into force on