The most expensive FuelEU strategy is to do nothing
The opportunity to reduce your FuelEU costs is right now. Waiting could be the most expensive strategy of all. FuelEU adds new costs and complexity, but also a chance to gain a competitive edge. With the right fuel choices and compliance strategy, ship owners can cut costs, avoid penalties, and generate surplus value. The window to act is open, and the best time to act is now.
The full storyEarly movers, who understand how to use the EU ETS as a strategic tool, do not wait for the first surrendering period of allowances but take advantage by engaging proactively. They understand that action must be taken today, as certain expenses are already incurred, and affecting contracts and negotiations.
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A common misconception among charterers and shipowners is that they don't need to worry about the EU Emissions Trading System (ETS) until September 2025. However, if you're signing charter parties in 2024, this mindset could be akin to signing a blank cheque.
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We have joined forces with Global Maritime Forum and leading maritime companies to cut greenhouse gas emissions from vessels through operational efficiency measures. As announced at the Global Maritime Forum's Annual Summit today, signatories agree to take collective action and adopt voyage optimisation strategies that can decrease annual fuel consumption by 20%, reduce annual emissions by more than 200 million tonnes of CO2, and enable the uptake of scalable zero-emission fuels in the long run.
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