Global shipowning body BIMCO has come out with an updated greenhouse gas (GHG) position statement, amid much jostling for who should pay for shipping’s decarbonisation. Unsurprisingly the organisation has said that charterers should pay for carbon pricing while warning that excessive retroactive measures could have negative unintended consequences.
BIMCO stated in a new position paper that it believes that the commercial party responsible for setting the speed and route of a ship should also provide for emissions allowances or credits under a market-based measure (MBM). This means the charterer in case of a time charterparty and the party that commits the ship to the voyage charter in the case of a voyage charterparty.
BIMCO called for new commercial solutions and shared responsibilities between charterers and shipowners to move shipping’s green transition ahead.
BIMCO remains a persistent advocate for the implementation of a global MBM. Such a measure, BIMCO stessed, should feature predictability and stability with regard to carbon price and thereby be suitable for incorporation in commercial contracts.
BIMCO also said that the International Maritime Organization’s green targets need to be upped, coming out in support of net zero carbon for shipping by 2050.
BIMCO also pointed out that excessive retroactive technical measures when applied to existing ships could result in premature retirement of ships, something the organisation suggested could lead to unnecessary additional emissions from building new ships.
BIMCO also said it is concerned that operational efficiency indices such as the upcoming Carbon Intensity Indicator (CII) are potentially misleading on an individual ship basis and not always representative of a ship’s true operational efficiency.