The € question: Are you ready to surrender your first EU Allowances?
The countdown is on: By 30 September 2025, all shipowners with EU voyages must surrender their first batch of EU ETS allowances. But are you ready? Do you know what your carbon bill will be? Where to get allowances, and when? For many shipowners, the financial clock is ticking, yet the full cost remains off the radar.
The full storyThe 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.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
Early 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.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
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.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
