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...
Persistent missile attacks by Houthi rebels on ships plying the Red Sea route have led to soaring emissions liabilities for shipping companies under the EU ETS as lengthy voyage diversions for Europe-bound vessels have multiplied fuel consumption, according to OceanScore.
An increasing number of commercial ships have been taking the alternative route to Europe via the Cape of Good Hope – adding around 9000 nautical miles, or 80%, to the distance sailed – to avoid the Houthi threat as over 50...
According to OceanScore, Asian vessel owners operating ships to and from Europe are anticipated to encounter emissions liabilities exceeding approximately €1 billion (US$1.1 billion) once the EU Emissions Trading System (EU ETS) is fully enforced.
According to the statement, the highest burden is expected to fall on companies registered in China and Singapore. Hamburg-based maritime technology firm OceanScore has projected that Asian-based Document of Compliance (DoC) holders will need to hand...
Container shipping will be the hardest hit shipping sector in January when the European Union Emissions Trading System (EU ETS) goes live with the carriers liable for around €1.82 billion in carbon charges at today’s prices, by 2026.
The EU ETS will be introduced gradually from 2024, with carriers liable for 40% of emissions in the first year, rising to 70% in 2025 and 100% by 2026, and Albrecht Grell, MD at OceanScore said the bill for the EU ETS will total around €6.5 billion, depending on the...
https://container-news.com/container-shipping-to-bear-brunt-of-eu-emissions-trading-system/
German firm OceanScore and energy solution provider RWE Supply & Trading have joined forces on an integrated solution that enables ship operators both to manage emissions liabilities and trade carbon allowances under the impending EU ETS regime.
The post OceanScore and RWE partner on EU ETS...
https://www.offshore-energy.biz/oceanscore-and-rwe-partner-on-eu-ets-management-solution/