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Bimco introduces EEXI transition clause

Photo: Marcus Hand xpress-yamuna.jpg
Bimco is introducing an EEXI transition clause ahead of the EEXI coming into effect at the start of 2023.

Amendments to Marpol Annex VI are due to enter into force from 1 November 2022 with resultant EEXI certification coming into effect from 1 January 2023.

Bimco’s new EEXI Transition Clause can be used in both existing and future time charter parties. For the majority of ships in the global fleet EEXI certification could require technical modifications most likely through engine power limitation or shaft power limitation.

“The upcoming regulatory changes will impact the way ships can be operated in the future and require a new approach to the contractual relationship between owners and charterers,” said Peter Eckhardt of German shipowner F. Laeisz, who heads the drafting team.

Among those involved in the drafting were law firm HFW. Alessio Sbraga, Partner, HFW, commented: "For those parties who have existing charterparties or are entering into charterparties which span into 2023, Bimco's EEXI Transition Clause 2021 is a necessary first step towards bringing much-needed commercial certainty in anticipation of the new MARPOL carbon emissions regulations due to come into force in 2023."

Bimco will be drafting more clauses related to the introduction of new environmental related regulations in shipping.

“In addition to EEXI, we are also developing clauses for emissions trading systems (ETS) and the carbon intensity indicator (CII) regime to meet the future challenges for the industry,” said Søren Larsen, Deputy Secretary General at Bimco.

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