Global, sector-focused law firm HFW has continued to support BIMCO in helping the shipping industry navigate complex new carbon intensity (CII) regulations and work towards decarbonisation.
The International Convention for the Prevention of Pollution from Ships (MARPOL) introduced new regulations on 1 January 2023 that require ships to reduce their carbon intensity on an ongoing basis, with CII Ratings awarded based on annual assessments.
Shipping organisation BIMCO’s ‘CII Operations Clause for Voyage Charter Parties 2023’ seeks to assist owners and charterers in contractually navigating and managing the new regulations.
HFW green shipping and decarbonisation experts Alessio Sbraga and Joseph Malpas formed part of the drafting sub-committee for this clause. HFW was the only law firm on the sub-committee.
This follows HFW’s work drafting BIMCO’s CII clause for time charter parties, as well as several other “game-changing” carbon emissions clauses, including an emissions trading scheme allowances clause for time charters, the industry’s first standard offshore decommissioning contact, and two clauses relating to the International Maritime Organization’s 2020 sulphur emission rules.
HFW is currently assisting BIMCO on upcoming emissions trading scheme clauses for voyage charters.
The firm also helped BIMCO draft the industry’s first standard contract for autonomous shipping, its first cyber security clause, a “faster, simpler” ship sale and purchase agreement, and a model clause addressing force majeure events occurring under contracts.
HFW is widely recognised as the world’s leading shipping and maritime law firm, and has been serving clients in the industry for almost 140 years. The firm has more than 200 shipping lawyers and 13 Master Mariners across its global network, specialising in dry shipping, admiralty and crisis management, and transactional work. HFW has more top-tier rankings for shipping in Chambers and The Legal 500 than any other law firm.
To read BIMCO’s CII Operations Clause for Voyage Charter Parties, visit: https://www.bimco.org/news/priority-news/20231013-new-cii-clause-for-voyage-charter-parties