BIMCO published the Carbon Intensity Indicator (CII) Operations Clause for Time Charter Parties on 16 November 2022, after the clause was adopted by the Documentary Committee.
BIMCO has since initiated a process of gathering feedback on its application from members and industry stakeholders.
BIMCO said the CII clause has been developed to help address the commercial complexities of the CII regulation entering into force on 1 January 2023. The regulation was adopted at the IMO despite attempts by the industry to point out the potential pitfalls of the CII formula.
Since the publication of the CII clause, BIMCO said it has held talks and met with members and stakeholders to seek feedback.
“We have received constructive comments, both positive and negative, from many of our members. This insight is invaluable for already published clauses and the development of future clauses. We will continue to seek solutions to help our members operate commercially in a complex regulatory environment,” commented David Loosley, BIMCO’s secretary general & CEO.
Following recent dialogue with members, BIMCO noted it understands that many stakeholders are still struggling to interpret the complexities of the CII regulation.
For this reason, BIMCO has announced that it is offering training along with free webinars to explain how the clause works in practice and how to understand the CII regulation.
It is important to note that BIMCO’s CII operations clause has been criticised by shipping giants, such as Maersk and MSC.
