BIMCO has introduced CO2TIME 2026, the first standardized time charter party specifically designed for the transport of liquefied carbon dioxide. This new framework aims to reduce contractual uncertainty for owners, charterers, and project developers as carbon capture, utilization, and storage (CCUS) projects scale up globally. The contract adapts established gas shipping principles to handle the unique technical and regulatory risks of CO2 carriage. By clarifying liability and operational costs, the standard provides the legal infrastructure necessary to support the emerging global trade in captured carbon.
