Hello everyone, first of all I wish you a good year.
The FUEL EU rule which came into effect as of 01.01.2025 is calculated after a ship calls at a European port, but will the notification be reported to the charterer within 10 days after leaving the European port? When will the difference be received from the charterer?
In short, what will be the FUEL EU regulation calculation-presentation to the charterer-refund timeline?
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Dear Pinara,
This depends on the commercial agreement between the owners and the charterers.
BIMCO FuelEU clause suggests within the first fifteen (15) days of each month or after each voyage the owners to notify the Charterers of the aggregated compliance balance of the vessel during the charter period, and in case the aggregated compliance balance has a negative value, the owners to provide the Charterers the calculation and independently validated information of a surcharge equal to the FuelEU penalty.
Then, the charterers shall pay the surcharge to the owners on a monthly or per voyage basis or if no payment frequency is selected, at the same time as the final hire payment is due or within the first seven (7) days of June of the Verification Period(s), whichever is earlier.
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Thank you for the response