Shipping industry at risk of fines due to FuelEU Maritime inactivity
The shipping industry is already at risk of significant fines, even before the FuelEU Maritime regulations take effect. It is particularly the lack of FuelEU clauses in charterparty agreements and pooling arrangements that causes costs to accumulate.
The full storyThe Sovereign Carbon Initiative, implemented in Djibouti and Gabon, calculates the carbon cost as 50% of the total carbon footprint of a ship’s journey to or from Djibouti and Gabon, and the price is set at USD 17 per tonne of CO2e emissions. The principle behind the scheme is simple: those who pollute must pay.
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Siglar's Head of Legal Affairs, Sinem Ogis, is back from an intense but important week at IMO MEPC and shares her reflections here.
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Navigating the complexities of maritime emissions regulations can be challenging as they continue to evolve. Here, we provide a five-year timeline and a sort summary of key points for you to remember.
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