BIMCO has launched CO2TIME 2026, the first standard time charter party specifically for shipping liquefied CO2. This framework adapts existing gas shipping practices to meet the unique technical and regulatory needs of the emerging carbon transport market. As carbon capture, utilization, and storage (CCUS) projects move toward full deployment, standardized contracts help reduce risk and uncertainty for shipowners, charterers, and financiers. The agreement provides a clear structure for allocating costs and responsibilities in the transport of CO2 from capture sites to storage locations.
