ETS – Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023
01 May 2024This clause is one from a suite of three clauses developed by the subcommittee for the voyage charter party context. The objective was to provide industry stakeholders with the flexibility to choose a procedure suitable for their specific trade and business. You should consider whether this Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023 is the one best suited to your specific circumstances or whether the ETS - Emission Scheme Freight Clause for Voyage Charter Parties 2023 or ETS - Emission Scheme Surcharge Clause for Voyage Charter Parties 2023 would be more appropriate. As the title suggests, this ETS – Emission Scheme Transfer of Allowances Clause for Voyage Charter Parties 2023 deals with the transfer of emission allowances. The basis of the clause is that the voyage charterer will be the one transferring emission allowances to the owners for the voyage. The owners, as a matter of contract, then remain responsible for surrendering the appropriate number of emission allowances in accordance with the applicable Emission Scheme.