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 storyWith increased expectations on reporting and reducing emissions through the value chain, reporting shipping emissions is becoming the norm. Collecting emissions data can also unlock great commercial opportunities. In this article we have summariszed some of the benefits from collecting emissions data from chartering.
Shipping’s inclusion in the European Union’s Emissions Trading System (EU ETS) will bring carbon pricing to the maritime sector for the first time and the cost will eventually be added to the charterer's freight rate. One way to prepare, is by understanding what the EU ETS means to the charterer.
Commercial decarbonisation is when commercial players in the shipping ecosystem make carbon conscious shipping decisions in a profitable way. Decarbonising the shipping industry might seem like an overwhelming challenge that is far from a charterers main task. However, for early movers, the challenge can be turned into significant opportunities and competitive advantages.
