HFW Continues Work Helping Shipping Industry Decarbonise With Latest BIMCO Clause

Global, sector-focused law firm HFW has continued to support BIMCO in helping the shipping industry navigate increasingly complex decarbonisation regulations from the European Union and the International Maritime Organization (IMO).

Having previously helped BIMCO draft several industry standard clauses related to decarbonisation and sustainability, HFW has now drafted a new clause relating to the EU’s FuelEU Maritime regulation, which takes effect on 1 January 2025. FuelEU will progressively reduce the greenhouse gas intensity of energy used on board vessels on an entire lifecycle basis, and promote the use of low carbon sustainable maritime fuels.

BIMCO’s ‘FuelEU Maritime Clause for SHIPMAN’ allocates risk and responsibility for compliance with the FuelEU regulation between shipowners and ship managers.

HFW was the only law firm on the drafting committee, led by London Partner and shipping decarbonisation expert Alessio Sbraga.

Alessio Sbraga, Partner, HFW: “This is a key clause, given the complexities introduced by the various pathways under FuelEU.”

This follows HFW’s work drafting BIMCO’s CII clause for time charter parties and voyage charter parties, as well as several other “game-changing” carbon emissions clauses, including an emissions trading scheme allowances clause for time charters, the industry’s first standard offshore decommissioning contact, and two clauses relating to the International Maritime Organization’s 2020 sulphur emission rules.

The firm also helped BIMCO draft the industry’s first standard contract for autonomous shipping, its first cyber security clause, a “faster, simpler” ship sale and purchase agreement, and a model clause addressing force majeure events occurring under contracts.

HFW’s market-leading global shipping practice comprises more than 220 shipping lawyers and Master Mariners throughout the Americas, Europe, the Middle East and Asia Pacific, specialising in dry shipping, admiralty and crisis management, and transactional work for clients across the industry.

HFW has more top-tier rankings for shipping in legal directories Chambers and The Legal 500 than any other law firm. HFW has again been ranked by The Times as one of the UK’s top maritime practices, and was recently voted UK Law Firm of the Year at the British Legal Awards.

To read BIMCO’s FuelEU Maritime Clause for SHIPMAN, visit: https://www.bimco.org/contracts-and-clauses/bimco-clauses/current/fueleu-maritime-clause-for-shipman