World News
BIMCO Adopts Time Charter Party for Liquefied CO2 Maritime Transport
Shipping industry body BIMCO has adopted a new time charter party for the maritime transport of liquefied CO2 as carbon capture projects drive demand for specialised shipping solutions.
The contract adopted by BIMCO's document committee, CO2TIME 2026, is the first standard time charter developed specifically for CO2 carriage, it said in a LinkedIn post on Thursday.
It is intended to support the growing carbon capture, utilisation and storage (CCUS) sector by offering a structured legal framework for shipowners and charterers.
BIMCO said the form builds on familiar time charter principles used in gas shipping, while addressing the specific technical and operational challenges linked to CO2 transport.
“By retaining well‑established time charter principles and adapting them to the specific characteristics of CO₂ transport, CO2TIME 2026 aims to reduce contractual uncertainty and support owners, charterers, financiers and project developers entering this market,” Nick Fell, chair of the document committee at BIMCO, said.
The form can also be used for other liquefied gases, including LPG.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 890.00 | 9.50 | 1243.00 | 35.50 |
| Rotterdam | 682.50 | 13.00 | 1340.00 | 15.50 |
| Houston | 745.50 | 3.00 | 1370.00 | 1.00 |
| Fujairah | 979.50 | 5.00 | 1676.50 | 11.50 |
| Global 20 Ports Average | 876.50 | 0.00 | 1500.00 | 8.50 |
| Global 4 Ports Average | 824.50 | 1.00 | 1407.50 | 10.00 |
| Global Average Bunker Price | 930.50 | 1.50 | 1567.00 | 17.50 |
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