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EN
The practice of slow steaming, i.e. deliberate reduction of the speed of cargo ships in order to minimize fuel consumption and carbon emissions, has become increasingly popular since the beginning of the economic crisis in 2008. The definition of slow steaming, its determinants and benefits as well as disadvantages can be found in the introduction to the paper. Further on, the issue of vessel speed in the context of charter parties and carrier’s obligation to proceed voyage with a due dispatch has been discussed. Notwithstanding the prevailing advantages of slow steaming for the ocean carriers, the practice poses both technical and legal problems, which, to some extent, can be solved by incorporating appropriate clauses to the charter parties. The elaboration of the most important slow steaming clauses, which have been developed by BIMCO for both time and voyage charter, constitutes the main part of the article. Attention is also drawn to the virtual arrival clause and the possibility of sharing the profits from the speed reduction. The article concludes that owners as well as charterers should be aware of some of the limitations of the clauses and consider additional insurance cover if necessary.
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