BIMCO CO2TIME Carbon dioxide Carbon capture and storage Climate change Charter party CCS market Drafting team Industry consultation Commercial flexibility

BIMCO is developing a new time charter party for carbon dioxide transportation by sea, known as CO2TIME, to support the growing CCS market and address climate change. The drafting team, including industry representatives, aims to finalize the charter by late 2025 for upcoming commercial projects in 2028-2030, ensuring industry consultation and standardization.