Course price

Discounts

10% group discount is available for registering 3 or more participants from the same company.

Overview

Short and to the point, the BIMCO 180 training seminars are 2 x 90 minutes of focused knowledge delivered online by leading maritime experts.

The EU ETS is a cap-and-trade system that requires certain industries, including the maritime sector, to reduce their emissions of greenhouse gases. The scheme requires all vessels trading to EU ports to monitor and report emissions and, subsequently, its shipping companies to surrender allowances for the GHG emitted by their fleet (in CO2eq). These allowances are traded in a market, and the price of the allowances is determined by supply and demand. By trading in allowances, the EU ETS aims to provide a financial incentive for ships to reduce their emissions, as this reduces the cost of having to buy more allowances. This, in turn, encourages owners and operators to use more efficient methods of vessel operation, such as using a lower speed and more efficient propulsion systems or using alternative fuels.

The European Union emissions trading scheme is a market-based payment system that EU countries use to buy and sell emissions data and products. The scheme also raises funds for EU public services, such as emissions research, energy metering, and air quality management. Overall, the EU ETS aims to reduce the environmental impact of ships trading to EU ports while at the same time giving operators a financial incentive to reduce their emissions.

What will you learn?

• Learn about the European Union Emissions Trading Scheme (EU ETS) and how it affects the operation of ships trading to EU ports.
• Understand the regulations and compliance requirements associated with the EU ETS, including how it affects ship operations, crew, and other stakeholders.
• Explore the different emissions reduction strategies available to ships and how they can be applied to meet the requirements of the EU ETS.
• Examine the potential financial and environmental impacts of the EU ETS on the maritime industry.
• Discuss best practices for navigating the EU ETS compliance process.
• Discuss incorporating and working with the “BIMCO ETS - Emission Trading Scheme Allowances Clause for Time Charter Parties 2022”.

Schedule

Tuesday 24 October 2023, 16:00 - 17:30 UTC

Session 1: Overview of the EU (ETS)

1. Introduction to the European Union Emissions Trading Scheme (EU ETS) and the 3-year phase-in period
2. How to facilitate fleet compliance with the ETS scheme and calculate the number of allowances that need to be surrendered for the period of the charter party
3. Mapping the future relationship between owners, managers, cooperating, and exchanging data
4. Working with ‘MRV’ (Monitoring, reporting and verification) of CO2 emissions. 

Wednesday 25 October 2023, 16:00 - 17:30 UTC

Session 2: Legal and contractual considerations

1. Overview of the BIMCO ETSA clause. Data sharing between owners and time charterer. What, if any, impact can be foreseen TC rates?
2. How to purchase EU ETS allowances:
   1. EU ETS Auctions
   2. EU ETS Spot Futures Options
3. Where can we expect to see challenges? Where are the gaps?

Starting time (for both sessions 1 and 2):

09:00 PDT
11:00 CDT
12:00 EDT
16:00 UTC
17:00 BST
18:00 CEST 

See the time in your local time zone.

Why choose to participate?

The BIMCO 180 seminar is an opportunity to be briefed on the current regulations and trends and their implications for the maritime industry. By attending, you can learn about the requirements and impact of the EU emissions trading scheme and how it affects the operation of ships trading to and from EU ports. The seminar will provide participants with an overview of the system, including a discussion of the costs, benefits, and other implications for the maritime sector. Additionally, participants will gain valuable insights into the latest developments in the industry, such as the recent amendments to the scheme and their implications for the industry. Through the BIMCO seminar, participants can better understand the scheme's various aspects and how it can affect their business operations.

How will this course help your professional development?

The seminar on the European Union emissions trading scheme and how it impacts the operation of ships trading to EU ports will assist professional development by better understanding the regulations and requirements associated with vessels trading to EU ports. It will also provide knowledge on assessing the costs and benefits of operating ships in the EU emissions trading scheme, allowing for better-informed decisions regarding vessel operations. Finally, the seminar will help participants stay updated with the latest developments in the European Union emissions trading scheme and where to look for additional information, which ensures that operations are compliant and take advantage of the available opportunities, including emissions trading.

Course materials

BIMCO issues electronic course files as an Adobe PDF file enabling you to make personal notes. All documentation and presentations will be in English. Course access details will be provided a week before the course start date if the registration is completed.

Speakers

Organiser