The € question: Are you ready to surrender your first EU ETS 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 storyIn their 80th session, IMO’s Marine Environment Protection Committee agreed to reach net-zero GHG emissions from international shipping ‘by or around’ 2050 and that the mid-term GHG reduction measures, including a maritime GHG emissions pricing mechanism should be finalised and adopted by 2025. Let’s take a closer look at the key outcomes of the meeting.
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A fee of 150 USD per tonne CO2e emitted from ships discharging international cargo at U.S. ports is suggested to be implemented from January 2024. The new carbon fee would be added to the EU ETS carbon cost.
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Shipping’s inclusion in the European Union’s Emissions Trading System (EU ETS) brought carbon pricing to the maritime sector. For charterers who want to leverage the opportunities of the transition, it’s time to embrace the change and learn how to navigate the EU ETS. A good way to start is to understand how the new regulations impact your everyday work. So, we sum up some key aspects of the EU ETS - from a chartering perspective.
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