The FuelEU Maritime Regulation is part of the EU’s “Fit for 55” package, which aims to reduce the EU’s net greenhouse gas emissions by 55% by 2030. It complements other EU initiatives aimed at cutting emissions, including the EU Emissions Trading System (ETS) and the Carbon Intensity Indicator (CII) ratings.
The regulation establishes “well-to-wake” greenhouse gas (GHG) emission intensity targets for the energy used on board ships, starting in 2025. These targets include a 2% reduction in 2025, gradually increasing towards a reduction of up to 80% by 2050. Unlike the EU ETS, which places responsibility on the shipowner, FuelEU Maritime designates the ship manager (the ISM company) as the responsible entity, regardless of whether the manager is the registered owner, bareboat charterer, or another party.
On 20 December 2024, BIMCO published a model clause for the BIMCO Shipman contract, designed to address the implications of the FuelEU Maritime regulation within the context of ship management. The clause ensures that shipowners and managers align their contractual responsibilities, including in relation to verification, compliance, and penalties. The full text of the clause is available on the BIMCO website.
We recommend that all shipowners and managers of vessels affected by FuelEU Maritime, effective from 2025, review their management contracts and consider incorporating the BIMCO model clause as appropriate.
For guidance on integrating the FuelEU Maritime model clause, we invite our members to contact the NNPC claims team at claims@nnpc.nl.
