BIMCO announces FuelEU Maritime clause for ship management

The shipping body Baltic and International Maritime Council (BIMCO) announced a new FuelEU Maritime Clause for vessel management contracts. 

PHOTO: A container ship moored in the port of Rotterdam. Getty Images

The new clause specifies that, in time charter agreements, the third-party ship manager will be responsible for ensuring vessel compliance with FuelEU Maritime requirements.

The shipowner shall provide the manager with bunker delivery notes (BDNs) and electricity delivery notes (EDNs) for all fuels and energy supplied to the vessel.

"The managers shall be entitled to rely on and accept no responsibility for the accuracy of the data and information recorded in any of the BDNs, EDNs and in any associated documentation", the clause reads.

For shipowners, the clause prescribes security to be provided to cover the managers’ exposure when fulfilling vessel compliance. Shipowners will provide security while maintaining full control over banking, borrowing and pooling under the contract. 

FuelEU Maritime will require a 2% reduction in the greenhouse gas (GHG) intensity of energy consumed onboard ships sailing between two EU ports from 1 January. This reduction target will gradually be hiked to 80% by 2050 and is compared to 2020 levels.

In light of this, BIMCO rolled out its new FuelEU Maritime clause for time charter agreements in November. Since then, the shipping body has been working on a new clause for ship management agreements under FuelEU Maritime. BIMCO’s Documentary Committee officially adopted the new ship management clause last week.

By Manjula Nair

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