BIMCO has introduced CO2TIME 2026, the first standard time charter developed specifically for the carriage of liquefied carbon dioxide (LCO₂).

The new form is designed for the fast-growing CCUS sector — carbon capture, utilisation and storage — where maritime logistics is becoming a critical part of the value chain.

From an operational perspective, CO2TIME 2026 adapts the traditional principles of gas shipping contracts to the specific requirements of CO₂ transportation. It addresses issues such as allocation of responsibilities, risk management, and vessel operation, helping reduce uncertainty for shipowners, charterers, and investors. In effect, it creates a more unified legal framework for an emerging market.

Its launch comes at a time when CCUS infrastructure is expanding rapidly, particularly in Europe and Asia, where transport chains are being built between capture sites and storage facilities. In this model, shipping serves as a key link, providing flexibility and scalability for the movement of captured CO₂.

More broadly, the introduction of a standardized contract suggests that the CO₂ shipping market is moving from concept to commercial implementation. It may also lower entry barriers for new participants and support the development of a dedicated fleet.