ACCORDING to experts, the shipping sector faces significant obstacles in accelerating its decarbonisation efforts, primarily due to the largely unregulated nature of shipping contracts and the uncertainty surrounding fuel transition regulations, reports Hong Kong's South China Morning Post.
The complex web of contracts involving shipowners, charterers, and sub-charters often leads to intricate disputes over responsibility, especially when new carbon-emission regulations are introduced during long-term agreements.
A joint report published by international law firm Stephenson Harwood and PIE emphasised that one of the most significant carbon inefficiencies in the maritime industry stems from the contractual obligations among multiple layers of owners, charterers, cargo interests, and bill-of-lading holders.
SeaNews Turkey
The complex web of contracts involving shipowners, charterers, and sub-charters often leads to intricate disputes over responsibility, especially when new carbon-emission regulations are introduced during long-term agreements.
A joint report published by international law firm Stephenson Harwood and PIE emphasised that one of the most significant carbon inefficiencies in the maritime industry stems from the contractual obligations among multiple layers of owners, charterers, cargo interests, and bill-of-lading holders.
SeaNews Turkey