(www.MaritimeCyprus.com) As interest grows in carbon capture, utilisation and storage (CCUS) throughout Europe and Asia, substantial investment and development has been made in infrastructure to transport and store captured emissions. It is apparent that shipping will play a crucial role in connecting industrial emitters, such as factories and power plants with offshore or remote CO2 storage sites. Captured carbon may also be used to create synthetic fuels or injected into oil fields to help extract remaining oil. Without a new standardised contract, parties would have to rely upon existing LNG or gas charterparties. While these forms provide a useful starting point, they are not fully suitable and therefore create uncertainty, risk and complications. The introduction of CO2TIME therefore provides a much-needed standardised framework which will now increase confidence across the industry and support further market development. Although primarily focused on CO2, the charterparty has been drafted flexibly enough to be used for other liquefied gases. In order to ensure familiarity, the charterparty has been developed from existing gas tanker chartering principles and adapted to accommodate regulatory, technical and operational characteristics of CO2. This approach is particularly attractive as it enables parties to rely upon well-established legal interpretations and will reduce the amount of time involved in negotiating bespoke agreements/clauses. A central theme of this charter is that liabilities and costs are assigned to the party with operational control. This is not generally an approach that is adopted in other charterparties which usually follow more rigid allocation structures of liability between owners and charterers. However, the approach taken in CO2TIME is a more commercially sensible approach factoring in risk and decision-making authority involved in the transportations of CO2. The contract was developed by a BIMCO drafting subcommittee with experience