The shipping industry is navigating a surge in regulatory changes, especially from the International Maritime Organization (IMO) and the European Union (EU), alongside an escalating need for decarbonization. BIMCO, in response, has unveiled a set of Emission Trading Scheme (ETS) clauses to facilitate collaboration, enhance clarity, and offer certainty among involved parties. The clauses, covering ship management agreements and voyage charter parties, are crafted to align with current and upcoming emission regulations, including the EU ETS, which is set to include ships of 5,000 GT and above calling EU ports from January 1, 2024. These clauses aim to support compliance efforts, including the reporting of emission data and the management of emission allowances

SOURCE:GOOGLE