Maritime Industry Transforms Performance Claims with Carbon Regulations and BIMCO Clauses
The integration of EU ETS, FuelEU Maritime, and IMO's CII regulations has fundamentally transformed performance claims in the maritime industry. Charterers now incorporate BIMCO clauses that shift carbon liability from owners to charterers.
Effective January 1, 2024, the EU ETS mandates shipowners to surrender CO₂ allowances, which charterers must cover. Additionally, the FuelEU Maritime Regulation, effective January 1, 2025, imposes penalties for non-compliance with GHG intensity limits, further increasing charterer costs.
The IMO's CII, implemented on January 1, 2023, links CO₂ emissions to operational performance, complicating claims. Underperforming vessels now incur carbon liabilities that charterers seek to recover alongside traditional fuel and hire claims, marking a shift to complex, multi-dimensional disputes.
