BIMCO EEXI Transition Clause
The 2021 clause: notification of a power limitation, replacement of the warranted maximum figures only if lower, and the limit on charterers' voyage orders.
The BIMCO EEXI Transition Clause for Time Charter Parties 2021 handles the mid-charter consequence of fitting an engine or shaft power limitation to meet the Energy Efficiency Existing Ship Index. The owner notifies the new maximum speed and consumption figures, and those replace the existing warranted maximum only if they are lower, from the certification date.
Everything else is preserved: all other warranted figures are unchanged, and the reduction is required to fall within the vessel’s existing performance curve. Charterers must not then order voyages above the new maximum. The full article will cover the notification mechanism and its timing, what happens where the warranted service speed already sits below the new maximum, the treatment of the power reserve, and the equivalent problem on a voyage charter.