Rerouting pushing up ETS bill for containership operators
Container lines have increased sailing speeds to maintain schedules on the longer routing around the Cape of Good Hope. But the extra fuel burn will mean higher emissions costs for voyages to Europe
Cape diversions see box shipping EU ETS outlays leap by 191%
Persistent missile attacks by Houthi rebels on ships plying the Red Sea route have led to soaring emissions liabilities for shipping companies under the recently introduced emissions trading scheme for shipping created by the European Union (EU ETS) as lengthy voyage diversions for Europe-bound vessels have multiplied fuel consumption, according to Hamburg-based maritime technology firm OceanScore.
OceanScore analysis shows near-tripling of EU ETS costs due to Red Sea crisis
Persistent missile attacks by Houthi 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.
GLOBAL: CAPE OF GOOD HOPE DIVERSIONS PUSH UP EU ETS COSTS
Vessel operators switching to Cape of Good Hope routes to avoid the volatile Red Sea region could see a near tripling of their EU Emissions Trading System (ETS) liabilities, says maritime data analysis company Oceanscore.
Red Sea crisis triples EU carbon credit costs for container ships
Liner operators pay more as vessels speed up on longer journeys
The cost of liner companies’ European Union carbon credits will triple because of diversions around Africa, according to OceanScore.
EU ETS could be a new trading market for ‘a bit of a gamble’
Maritime stakeholders operating under the EU ETS could be tempted to stock up on EUAs when the auction price is low, and even trade them for profit – but it could be a risky strategy.
Asian shipowners face hefty emissions liabilities of €1bn for EU-bound voyages, according to OceanScore
Asian ships sailing to Europe could incur huge costs once the EU ETS is fully implemented. Companies in China and Singapore will be particularly affected.
Asian shipowners face hefty emissions liabilities of €1bn for EU-bound voyages, according to OceanScore
Asian shipowners face hefty emissions liabilities of €1bn for EU-bound voyages, according to OceanScore
Challenges still lie ahead with EU ETS for shipping
Implementation of the EU Emissions Trading System (EU ETS) for shipping is still creating challenges for the industry with some parts of the legislation yet to be enacted and decisions to be made on who will be responsible for paying the charges still undecided.
Container lines to bear brunt of $7bn European emissions scheme cost
Container lines to bear brunt of $7bn European emissions scheme cost. More than one-quarter of emissions allowances will be paid by the liner sector, but how?
