Tag: Emissions Trading System (ETS)

There is no reason to panic about the EU ETS - unless you are not fully prepared, writes Christian Rae Holm, Managing Director, Coach Solutions

The EU has expanded the scope of the European Union Emissions Trading System (EU ETS) to include the maritime sector starting from January 1st, 2024. This move has been raising all sorts of reactions and thoughts on the implications for the shipping industry, and the challenges and opportunities it presents.

The maritime industry, a cornerstone of global trade and commerce, is currently navigating a dynamic regulatory landscape that shapes its present and future. As we look ahead, several key items dominate the regulatory agenda for the maritime sector.

International Council on Clean Transportation (ICCT) explores the regulatory landscape of the European Union Emissions Trading System (EU ETS), which is expanding to include the maritime sector.

The International Transport Intermediaries Club (ITIC) has forecasted that the cost of the European Union’s (EU's) new Emissions Trading Scheme (ETS) to the shipping industry could be in the billions.

BIMCO’s Documentary Committee adopted a new Emission Trading Scheme Allowances Clause for BIMCO’s ship management agreement, SHIPMAN, and three ETS clauses for Voyage Charter Parties which were published on 8 December.

Federation of European Private port Companies and Terminals (FEPORT) members reiterated their concern regarding the measures of the EU ETS and the possibility of a review of the Regulation, during General Assembly meeting of their organization.

Transpost Malta has issued a Merchant Shipping Notice to remind all concerned of the important dates of EU MRV regulation following the amendments approved this May in order to comply with the requirements of Regulation (EU) 2015/757 (effective from April 2015), on the monitoring, reporting and verification (MRV) of carbon dioxide emissions from maritime transport

Ships in EU seas should face dissuasive fines not only for oil spills, but also for sewage and garbage discharge, Transport and Tourism Committee MEPs highlights.

ESCA highlights that the EU recently adopted the ‘Fit for 55’ package that introduces the new ambitious measures for Europe to reduce emissions by at least 55% by 2030 and become carbon neutral by 2050.