Course price

Discounts

10% group discount is available for registering 3 or more participants from the same company. Cannot be combined with any other discount.

Overview

The complexities of maritime decarbonisation are underscored by the industry's multifaceted challenges in reducing greenhouse gas emissions. The European Union (EU) and the International Maritime Organization (IMO) have implemented new rules to address this imperative. The EU and the IMO have set ambitious emission reduction targets for the shipping sector, encouraging the adoption of alternative fuels and energy-efficient technologies.

Simultaneously, the IMO’s strategy for the reduction of GHG Emissions from ships outlines a phased approach towards decarbonisation. These regulations necessitate significant technological and operational changes for shipowners, charterers, and operators. Achieving compliance involves navigating intricate compliance frameworks, especially considering the diverse nature of vessels and trades.

As the maritime industry steers through these uncharted waters, collaboration, innovation, and a holistic understanding of the regulatory landscape are crucial for a sustainable and decarbonised future. The maritime industry will need to consider whether the contractual structures that have been in place for over a century suit the journey toward decarbonisation.

What will you learn?

Morning session: Challenges:

1. Mapping Future Relationships: Understand the evolving dynamics between ship owners, managers, and stakeholders, emphasising the importance of cooperation and data exchange in navigating future challenges.
2. EU ETS and CII Insights: Explore the complexities of the EU Emission Trading Scheme (ETS) and Carbon Intensity Indicator (CII) status, identifying challenges and gaps in their implementation.
3. Global Decarbonisation Initiatives: Gain insights into various regional and international decarbonisation initiatives on the horizon, recognising their potential impact on the maritime industry.
4. Contractual Aspect of Decarbonisation: Understand the contractual landscape, focusing on the clauses for ship management contracts and time and voyage charter parties, including challenges in creating decarbonisation rider clauses for existing contracts.

Afternoon session: Opportunities and Solutions:

1. The 4th Way Charter: Explore a new holistic business model for the 21st century, emphasising efficiency and inclusivity in shipping operations within the global supply chain.
2. Global Supply Chain Focus: Understand the importance of multiparty alignment, combining contracts and technology, and rewarding efficiency through incentives in the context of the 4th Way Charter.
3. Trading Matrix and Operational Optimization: Develop awareness of the contractual landscape and operational optimisation in time charter parties, focusing on rethinking demurrage as a revenue or expense stream.
4. Integrating Emissions' Abatement: Recognise the necessity of integrating emissions reduction as a contractual parameter in maritime contracts, facilitating the transition to the Decarbonization Era.
5. Reflecting and Looking Ahead: Participate in the closing session to reflect on the day's insights, discuss key takeaways, and gain a broader perspective on the challenges and opportunities in the maritime industry's decarbonisation journey.

Why choose to participate?

The maritime industry consists of a web of internationally linked contracts and maritime conventions, profoundly impacting the commercial dynamics of cargo ships. These operations involve a complex network of contracts, including charter parties, bills of lading, commodity sale contracts, and letters of credit. The impact of new international regulation on decarbonisation adds a new layer of contractual complexity, setting shipping apart from other industries such as heavy industry, manufacturing, and aviation. Behind it all is the very nature of shipping, which is often spot-driven and introduces additional intricacies into the contractual landscape.

The BIMCO Training seminar aims to go beyond viewing decarbonisation as a regulatory issue. It is also a commercial contractual issue where the parties must exchange data and cooperate in new ways, even though they may have different or even opposite commercial interests to protect.

How will this course help your professional development?

This training seminar offers a unique perspective, emphasising that decarbonisation is not just a regulatory issue but a commercial contractual challenge. Participants will gain insights into the commercial necessity of data exchange and cooperation among parties with varying commercial interests.

Course certification

Participants will receive a certificate of attendance. BIMCO can issue certificates meeting the Continuing Legal Education (CLE) requirements upon request.

Course materials

BIMCO issues electronic course files as an Adobe PDF file, enabling you to make personal notes. All documentation and presentations will be in English.

Speakers

Organiser