Tag: Emissions Trading System (ETS)

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.

Cargo owners seeking to determine their Scope 3 emission liabilities from the logistics chain must contend with multiple calculation methods from different shipping lines that will affect their costs exposure to the EU ETS for shipping, UECC highlights.

According to Lloyd’s Register, from 1 January 2024, maritime emissions will be included in the European Union Emissions Trading System (EU ETS). This means the acquiring and surrender of emission allowances for ships over 5,000GT that call at a port or anchorage within the European Economic Area (EEA – EU plus Norway and Iceland).

As the European Tugowners Association (ETA) warns, the risk of cargo diversion as a result of the inclusion of shipping in the European Emissions Trading System (ETS), that is coming into force next January, is becoming a reality. 

Jacob Clausen, Performance Director, NAVTOR, simplifies the complexities of the EU Emissions Trading Scheme (ETS) with a high-level look at the regulatory horizon, allied to a clear lowdown on how shipowners and operators can mitigate risks, manage costs and comply.