IMOS - Offhire Emissions Business Rules

These business rules define how IMOS posts EU ETS and FuelEU Maritime transactions to the General Ledger. Each row maps a transaction source and code combination to the accounts that should be debited and credited, so emissions costs flow through the Voyage P&L and into the GL consistently, regardless of which counterparty owns the obligation or how the cost is ultimately settled.

The rules cover the full lifecycle of an emissions charge. Uninvoiced entries accrue the expected cost against an expense account while the obligation is still open. Cash and allowance invoices recognize the cost once it is billed by the counterparty, with allowance invoices also booking a liability for the EUA volume owed. Transfer entries move allowances between the liability account and the ETS inventory (asset) account when they are surrendered or rebilled, and price-difference and exchange-rate-difference entries true up accruals when market prices or FX rates move between recognition and settlement.

The rules are organized by relationship: TCI (uninvoiced and invoiced by the TC In owner), Head Fixture, VC In, and the rebill paths to TCO charterers and cargo charterers. FuelEU follows the same pattern, with penalty accruals, pool journal entries that credit the pool account, and invoiced penalties recognized through the TC, freight, and relet invoice flows.

The OHCARBON, OHPENALTY, and OHVFEUE codes are the offhire counterparts of CARBON, PENALTY, and VFEUE. They post to the same account types but keep offhire-period emissions costs identifiable in the ledger, so users can see how much of a voyage's EU ETS and FuelEU exposure was generated while the vessel was offhire.

Business Rules for EU ETS

Source	Code	Nature	Ledger	Credit Acct
Uninvoiced TCI
EMSN	CARBON	Uninvoiced	Expense Account
EMSN	OHCARBON	Uninvoiced	Expense Account
Uninvoiced Head Fixture
EMSO	CARBON	Uninvoiced	Expense Account
EMSO	OHCARBON	Uninvoiced	Expense Account
Uninvoiced VC In Owner
EMSI	CARBON	Uninvoiced	Expense Account
EMSI	OHCARBON	Uninvoiced	Expense Account
Uninvoiced Rebill to TCO Charterer
EMSR	CARBON	Uninvoiced	Expense Account
EMSR	OHCARBON	Uninvoiced	Expense Account
Uninvoiced Rebill to Cargo Charterer
EMSC	CARBON	Uninvoiced	Expense Account
EMSC	OHCARBON	Uninvoiced	Expense Account
Invoiced by TCI Owner
TCCI	CARBON	Cash Invoice	Expense Account
TCCI	OHCARBON	Cash Invoice	Expense Account
TCCA	CARBON	Allowance Invoice	Expense Account	Liability Account
TCCA	OHCARBON	Allowance Invoice	Expense Account	Liability Account
TCCT	CARBON	Transfer	Liability Account	ETS Inventory (Asset) Account
TCCT	CARBPRICEDIFF	Not Invoiced, accrual only	Expense Account	Liability Account
TCCT	XDIFF	Not Invoiced, accrual only	Exchanged Rate Diff Account (Expense Account)	Liability Account
Invoiced by Head Fixture Counterparty
OVCI	CARBON	Cash Invoice	Expense Account
OVCI	OHCARBON	Cash Invoice	Expense Account
OVCA	CARBON	Allowance Invoice	Expense Account	Liability Account
OVCA	OHCARBON	Allowance Invoice	Expense Account	Liability Account
OVCT	CARBON	Transfer	Liability Account	ETS Inventory (Asset) Account
OVCT	CARBPRICEDIFF	Not Invoiced, accrual only	Expense Account	Liability Account
OVCT	XDIFF	Not Invoiced, accrual only	Exchange Rate Diff Account (Expense Account)	Liability Account
Invoiced by VC In Owner
VICI	CARBON	Cash Invoice	Expense Account
VICI	OHCARBON	Cash Invoice	Expense Account
VICA	CARBON	Allowance Invoice	Expense Account	Liability Account
VICA	OHCARBON	Allowance Invoice	Expense Account	Liability Account
VICT	CARBON	Transfer	Liability Account	ETS Inventory (Asset) Account
VICT	CARBPRICEDIFF	Not Invoiced, accrual only	Expense Account	Liability Account
VICT	XDIFF	Not Invoiced, accrual only	Exchange Rate Diff Account (Expense Account)	Liability Account
Rebilled to TCO Charterer
TOCI	CARBON	Cash Invoice	Expense Account
TOCI	OHCARBON	Cash Invoice	Expense Account
TOCA	CARBON	Allowance Invoice	Expense Account	Liability Account
TOCA	OHCARBON	Allowance Invoice	Expense Account	Liability Account
TOCT	CARBON	Transfer	ETS Inventory (Asset) Account	Liability Account
TOCT	CARBPRICEDIFF	Not Invoiced, accrual only	Expense Account	Liability Account
TOCT	XDIFF	Not Invoiced, accrual only	Exchange Rate Diff Account (Expense Account)	Liability Account
Rebilled to Cargo Charterer
VOCI	CARBON	Cash Invoice	Expense Account
VOCI	OHCARBON	Cash Invoice	Expense Account
VOCA	CARBON	Allowance Invoice	Expense Account	Liability Account
VOCA	OHCARBON	Allowance Invoice	Expense Account	Liability Account
VOCT	CARBON	Transfer	ETS Inventory (Asset) Account	Liability Account
VOCT	CARBPRICEDIFF	Not Invoiced, accrual only	Expense Account	Liability Account
VOCT	XDIFF	Not Invoiced, accrual only	Exchange Rate Diff Account (Expense Account)	Liability Account

Business Rules for FuelEU

Source	Code	Ledger	Credit Acct
Uninvoiced TCI
FEUP	PENALTY	Expense Account
FEUP	OHPENALTY	Expense Account
Uninvoiced HF
FEUO	PENALTY	Expense Account
FEUO	OHPENALTY	Expense Account
Uninvoiced By VC In
FEUI	PENALTY	Expense Account
FEUI	OHPENALTY	Expense Account
Uninvoiced TCO Rebill
FEPR	PENALTY	Expense Account
FEPR	OHPENALTY	Expense Account
Uninvoiced Cargo Rebill
FEUC	PENALTY	Expense Account
FEUC	OHPENALTY	Expense Account
TCI Fuel EU Pool Journal
FEIJ	PENALTY	Expense Account	Pool Account
FEIJ	OHPENALTY	Expense Account	Pool Account
Head Fixture Fuel EU Pool Journal
FEOJ	PENALTY	Expense Account	Pool Account
FEOJ	OHPENALTY	Expense Account	Pool Account
TCI Invoiced via TC invoice
TCIP	VFEUE	Expense Account
TCIP	OHPENALTY	Expense Account
TCO Invoiced via TC invoice
TCOB	VFEUE	Expense Account
TCOB	OHPENALTY	Expense Account
Cargo invoice via freight invoice
FINV	VFEUE	Expense Account
FINV	OHVFEUE	Expense Account
VC In invoiced via relet invoice
RINV	VFEUE	Expense Account
RINV	OHVFEUE	Expense Account

Business Rules for EU ETS

Source

Code

Nature

Ledger

Credit Acct

Business Rules for FuelEU