The CII Operations Clause for Time Charter Parties is now available to download free of charge from BIMCO's website.

The BIMCO Documentary Committee has adopted the CII Operations Clause for Time Charter Parties which will help the industry implement new requirements from the International Maritime Organization (IMO).

New regulations on the carbon intensity of international shipping will come into force on 1 January 2023. The CII regulations are expected to significantly impact the future operation of ships. Shipowners and charterers must change the way they co-operate and new clauses for charter parties are needed to help owners and charterers succeed.

The starting point for the new CII clause is that time charterers take responsibility for the ship’s emissions because they make decisions on the operation of the ship. When entering into a charter party, or incorporating the clause into an existing charter party, the parties are to agree on a specific CII value to be achieved each year.

As the industry likely will be facing more regulations from the IMO and the EU aimed at reducing shipping’s CO2 emissions, the need for new contracts and clauses is increasing. The CII clause is the latest addition to BIMCO’s suite of carbon clauses for time charter parties. In December 2021, we published an EEXI Transition Clause and at the end of May 2022, we released a new Emissions Trading System Allowances (ETSA) Clause for Time Charter Parties.

You can find the CII Operations Clause for Time Charter Parties here.

https://www.bimco.org/contracts-and-clauses/bimco-clauses/current/cii-operations-clause-2022

The Explanatory Notes to the CII Operations Clause for Time Charter Parties will be available shortly and a free of charge webinar for the industry to explain more about CII and the clause itself will be organised in the near future. Furthermore, BIMCO 180 training seminars will be organised in December and January.

Source: BIMCO

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