BIMCO has introduced CO2TIME 2026, the first standard time charter party specifically for the transport of liquefied carbon dioxide (LCO2). This new framework helps bridge the gap between traditional gas shipping and the unique technical requirements of carbon capture and storage (CCS) logistics. The contract provides a standardized structure for owners, charterers, and project developers to manage costs and operational risks. By basing the form on established gas tanker principles, BIMCO aims to reduce contractual uncertainty as CCUS projects move from concept to execution in Europe and Asia.
