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BIMCO Issues Time Charter for Carbon Transport

[ May 11, 2026   //   ]

BIMCO has released a new standardized time charter party for the transport of liquefied carbon dioxide, targeting a fast-developing market linked to carbon capture and storage projects.

The contract, CO2TIME 2026, was adopted by BIMCO’s Documentary Committee and is the first charter party designed specifically for liquefied CO2 carriage, addressing growing demand for maritime links between industrial emitters and storage sites.

“CO2 transport is a developing trade with a unique risk profile but closely connected to established gas shipping practices,” said Stinne Taiger Ivø, deputy secretary general and director of contractual affairs at BIMCO. “CO2TIME 2026 has been designed to bridge this gap.”

The form builds on conventional gas tanker charter structures while incorporating provisions tailored to CO2 cargoes, including operational, technical and regulatory considerations.

Nicholas Fell, chair of BIMCO’s Documentary Committee, said the goal is to reduce contractual uncertainty as stakeholders enter the market.

“By retaining well established time charter principles and adapting them to CO2 transport, CO2TIME 2026 aims to support owners, charterers, financiers and project developers,” Fell said.

The charter allocates liabilities and costs based on operational control, reflecting the complexity of handling liquefied CO2, and includes flexibility for use in other liquefied gas trades such as LPG.

The launch comes as carbon capture, utilization and storage projects scale globally, driving expectations for increased seaborne CO2 volumes and the need for standardized commercial frameworks.

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