Singapore’s EU ETS liabilities of €330 million can accelerate green shipping initiatives

Singapore-registered vessels will be required to contribute a significant €330 million (US$355 million)m share of Asian shipping’s total emissions liabilities under the EU ETS, underlining the importance of the Lion City as a key maritime hub for both global trade and decarbonization, according to OceanScore.

The Hamburg-based maritime technology firm’s modelling analysis shows that 5.5 million EU Allowances (EUAs), or carbon credits, will have to be surrendered for some 1120 liable vessels...

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