EU shipping emissions rose in 2025. The ships did not emit more. The reported increase comes entirely from vessels that entered the reporting rules in 2025; follow the same ships through both years and emissions fell. Below the CO₂ line, methane rose sharply as LNG dual fuel ships reached the water, and from 2026 that methane becomes billable, pushing the maritime EU ETS bill toward 100 million allowances. For owners and charterers, the headline MRV number is only the starting point. The exposure sits behind it.
The full storyThe outcome of the International Maritime Organisation (IMO) meeting shows that global regulation will not drive the next few years’ vital development towards shipping decarbonisation. With no agreement on carbon pricing measures, no funds dedicated to support decarbonisation, and even no change in the initial GHG reduction strategy it is still left to individual companies to drive the decarbonisation.
At today's rate a fully implemented EU Emissions Trading System would add a carbon cost of more than USD 70 000 per round voyage for a commonly traded intra-EU route. The EU carbon price is increasing, and we give you an overview of the costs that the introduction of the system could bring to two commonly traded shipping routes.
Will the IMO change its course towards net zero shipping and lead shipping decarbonisation or will others be forced to take up the challenge? We give you the agenda of the MEPC77 meeting and keep you up to date on the outcomes.
