Bimco explains carbon intensity index (CII)
The Baltic and International Maritime Council (Bimco) has published a new clause for time charter parties to make it easier for parties to comply with the requirements of the new International Maritime Organisation (IMO) standard regarding to the carbon intensity index (CII) of the ships.
This new standard will enter into force on 1 January 2023. For this reason, new clauses must be added to chartering contracts.
In the case of time charter parties, it will be the charterers who will assume responsibility for the ship's emissions. The parties must also agree on a specific value of CII to be achieved each year. (sh)