As the shipping industry grapples with increased regulations from the International Maritime Organization (IMO) and the European Union (EU), BIMCO has unveiled a set of Emission Trading Scheme (ETS) clauses. These clauses, adopted for both ship management agreements and voyage charter parties, aim to provide clarity and collaboration between parties in light of evolving regulations and the industry's push to decarbonize. With a focus on upcoming EU ETS requirements, BIMCO's clauses offer flexibility for potential future emission schemes. The clauses address allocation of costs and responsibilities, reporting of emission data, and the transfer and surrender of emission allowances. BIMCO continues to actively contribute to the industry's compliance efforts by providing tools and frameworks for navigating the changing regulatory landscape.

SOURCE:GOOGLE