Home News & Resources News CO2TIME 2026: A Standard Form for an Emerging CO₂ Shipping Market Karolina Mentz Contract Review Director Date 12 June 2026 Share this article Introduction CO₂ shipping is emerging as a critical component of the carbon capture, utilisation and storage (CCUS) value chain, and contractual frameworks are now evolving to support this transition. The UK Club had the opportunity to contribute to the BIMCO drafting process for CO2TIME 2026, working alongside key market participants and technical specialists from the gas shipping sector. The result is a timely contractual framework for a trade that is moving rapidly from concept to commercial reality: the maritime transport of liquefied carbon dioxide as part of CCUS projects. Adopted by BIMCO in April 2026, CO2TIME 2026 is the first standard time charter party designed specifically for the carriage of liquefied CO₂. It reflects the increasingly important role shipping is expected to play in connecting capture sites with storage hubs and wider CCUS infrastructure. A practical and familiar framework One of the key strengths of CO2TIME 2026 is that it does not seek to reinvent chartering practice. Instead, it builds on established gas shipping concepts, while adapting them to the technical, operational and regulatory realities of CO₂ carriage. This balance between familiarity and innovation is significant. It provides owners, charterers, financiers and project developers with a recognisable contractual structure, reflecting the contribution of market participants and specialists involved in BIMCO’s drafting process, while helping to reduce the uncertainty that has characterised many early-stage CO₂ transport projects. Meeting the needs of a growing market The timing of CO2TIME 2026 is notable. Across Europe and parts of Asia, CCUS projects are advancing rapidly, creating demand for reliable transport solutions for captured emissions. As these projects scale, counterparties require charter wordin