15 April 2024
Short and to the point, the BIMCO 180 training seminars are 2 x 90 minutes of focused knowledge delivered online by leading maritime experts. The EU ETS is a cap-and-trade system that requires certain industries, including the maritime sector, to reduce their emissions of greenhouse gases. The scheme requires all vessels trading to EU ports to monitor and report emissions and, subsequently, its shipping companies to surrender allowances for the GHG emitted by their fleet (in CO 2 eq). These allowances are traded in a market, and the price of the allowances is determined by supply and demand. By trading in allowances, the EU ETS aims to provide a financial incentive for ships to reduce their emissions, as this reduces the cost of having to buy more allowances. This, in turn, encourages owners and operators to use more efficient methods of vessel operation, such as using a lower speed and more efficient propulsion systems or using alternative fuels. The European Union emissions trading scheme is a market-based payment system that EU countries use to buy and sell emissions data and products. The scheme also raises funds for EU public services, such as emissions research, energy metering, and air quality management. Overall, the EU ETS aims to reduce the environmental impact of ships trading to EU ports while at the same time giving operators a financial incentive to reduce their emissions.
08 March 2024
Short and to the point, the BIMCO 180 training seminars are 2 x 90 minutes of focused knowledge delivered online by leading maritime experts. The EU ETS is a cap-and-trade system that requires certain industries, including the maritime sector, to reduce their emissions of greenhouse gases. The scheme requires all vessels trading to EU ports to monitor and report emissions and, subsequently, its shipping companies to surrender allowances for the GHG emitted by their fleet (in CO 2 eq). These allowances are traded in a market, and the price of the allowances is determined by supply and demand. By trading in allowances, the EU ETS aims to provide a financial incentive for ships to reduce their emissions, as this reduces the cost of having to buy more allowances. This, in turn, encourages owners and operators to use more efficient methods of vessel operation, such as using a lower speed and more efficient propulsion systems or using alternative fuels. The European Union emissions trading scheme is a market-based payment system that EU countries use to buy and sell emissions data and products. The scheme also raises funds for EU public services, such as emissions research, energy metering, and air quality management. Overall, the EU ETS aims to reduce the environmental impact of ships trading to EU ports while at the same time giving operators a financial incentive to reduce their emissions.
03 October 2023
Short and to the point, the BIMCO 180 training seminars are 2 x 90 minutes of focused knowledge delivered online by leading maritime experts. The EU ETS is a cap-and-trade system that requires certain industries, including the maritime sector, to reduce their emissions of greenhouse gases. The scheme requires all vessels trading to EU ports to monitor and report emissions and, subsequently, its shipping companies to surrender allowances for the GHG emitted by their fleet (in CO 2 eq). These allowances are traded in a market, and the price of the allowances is determined by supply and demand. By trading in allowances, the EU ETS aims to provide a financial incentive for ships to reduce their emissions, as this reduces the cost of having to buy more allowances. This, in turn, encourages owners and operators to use more efficient methods of vessel operation, such as using a lower speed and more efficient propulsion systems or using alternative fuels. The European Union emissions trading scheme is a market-based payment system that EU countries use to buy and sell emissions data and products. The scheme also raises funds for EU public services, such as emissions research, energy metering, and air quality management. Overall, the EU ETS aims to reduce the environmental impact of ships trading to EU ports while at the same time giving operators a financial incentive to reduce their emissions.
09 June 2022
The drafting team tasked with updating BIMCO’s 13 year old SHIPMAN shipmanagement agreement will begin by preparing a free standing clause addressing the shipmanagers’ role in complying with emissions trading systems such as the EU ETS. ETS is seen as a critical issue by shipmanagers who will need to agree with owners how the surrender of emissions allowances for ships trading to the EU after 2024 is to be handled.
10 November 2022
BIMCO has joined the Blue Visby Consortium to support research into practical solutions that help reduce the industry’s greenhouse gas (GHG) emissions.
21 November 2015
BIMCO's position on "greenhouse gases emissions" has been approved by the BIMCO Board of Directors.
07 December 2023
27 February 2024
During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number of ships arriving in these ports significantly declined as merchant shipping increasingly avoided transiting through the region due to concerns over attacks on ships by the Houthis.
13 March 2024
BIMCO has established a dedicated subcommittee to examine the implications of the FuelEU Maritime Regulation, a key component of the EU's Fit for 55 legislative package. The regulation is a central pillar of the EU's commitment to reducing greenhouse gas emissions by at least 55% by 2030 and achieving climate neutrality by 2050.
28 April 2022
Work continues apace to prepare two important carbon clauses for publication in May. The most of challenging of these tasks is the development of a CII Compliance Clause for Time Charter Parties. Technical, commercial and legal experts have been meeting weekly for many months to try to find a practical solution for owners and operators operating under the new CII regime. As of 2023, ships will enter an annually narrowing emissions “corridor” where owners and charterers will need to work closely together to ensure continuing compliance. The BIMCO CII Clause will need to balance the operational restrictions imposed on owners by the low carbon regime against allowing charterers to optimise the ship’s commercial activity during the charter period.