The Documentary Committee of BIMCO has adopted a FuelEU Maritime Clause and an ETS Clause for incorporation into Memoranda of Agreements (MoAs) for the sale and purchase of ships.The FuelEU Maritime Regulation
The Documentary Committee of BIMCO has adopted a FuelEU Maritime Clause and an ETS Clause for incorporation into Memoranda of Agreements (MoAs) for the sale and purchase of ships.
The FuelEU Maritime Regulation and the EU Emissions Trading System (EU ETS) impact the sale and purchase of ships, and the clauses have been developed to help provide certainty for both parties during the process.
“Regulations such as the FuelEU Maritime and EU ETS are complex and reshape our industry. Therefore, contractual clarity is essential. The new clauses offer parties the tools they need to manage compliance obligations and avoid uncertainty during ship transactions,” says Stinne Taiger Ivø, Deputy Secretary General and Director of Contracts at BIMCO.
Both clauses are developed to clearly define responsibilities, costs and data-sharing obligations under the current regulatory frameworks, and the ETS clause can also be used for similar emission trading schemes that may come into force in the future.
The FuelEU Maritime Clause for MoAs 2025 sets out the seller’s responsibilities to ensure compliance at the time of delivery of the ship. The clause includes provisions on disclosure of verified compliance balances for previous reporting periods and provides for a partial FuelEU report after delivery.
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