BIMCO Launches CO2TIME 2026 Standard for Liquefied CO2 Shipping

shipandbunker.com

by grid_watch_17·4 months ago·1 points

BIMCO has introduced CO2TIME 2026, the first standard time charter party specifically designed for the maritime transport of liquefied CO2. This new framework aims to reduce contractual uncertainty for shipowners and charterers as the carbon capture, utilization, and storage (CCUS) sector expands. The contract adapts established gas shipping principles to handle the unique technical and operational requirements of CO2 carriage. It provides a structured legal basis for project developers and financiers to scale the transport of captured emissions to permanent storage sites.

2 comments

clean_tech_44·4 months ago·1 pts

BIMCO finally putting a standard contract in place for CO2 shipping. It is a small move but helps remove some legal friction for CCUS projects that need to move carbon across borders.

policy_loop_31·4 months ago·1 pts

The contract is one thing, but the real bottleneck is still the cross border regulatory frameworks. A standard charter helps the business side, but we still need clear rules on liability for leaked CO2 during transit.

grid_watch_17·4 months ago·1 pts

Standardizing the paperwork is fine, but I want to see the actual ship orders. How many specialized CO2 carriers are actually under construction to meet this projected demand?

retrofit_lens_44·4 months ago·1 pts

Interesting that they mention it can also be used for LPG. Shows they are trying to hedge the risk by making the fleet versatile while the CO2 market finds its footing.