Scenario 1: Maritime compliance costs are no longer confined to regional regulation. Based on current policy timelines and market assumptions, the industry’s annual compliance bill could rise from around USD 2.7 billion in 2024 to more than USD 57 billion by 2032, with the IMO framework becoming the largest driver of future cost exposure.
The full storyLloyd’s List Intelligence and Siglar Carbon partner to drive sustainable decision-making across the maritime industry.
The shipping industry is already at risk of significant fines, even before the FuelEU Maritime regulations take effect. It is particularly the lack of FuelEU clauses in charterparty agreements and pooling arrangements that causes costs to accumulate.
The EU ETS requires shipping companies to annually report emissions and surrender allowances. The polluter pays principle mandates that charterers, in time charter and spot voyage contracts take responsibility for emissions. This highlights the importance of contract terms and conditions between charterers and owners.
