Increasing the cost of shipping in Europe by €7.9bn, should impact industry and competitive dynamics in (maritime) transport. What is to be expected?
Besides all the intended environmental effects of the implementation of Europe’s Emissions Trading Scheme for shipping, finance ministers are looking forward to new treasures coming their way. OceanScore’s analysis points to an interesting distribution of the fund-flows. Generally speaking, the majority of funds generated will be generated by the countries where the EUAs have been surrendered. Excluded are some funds that will be used for the EU Innovation Fund as well as for specific support of below average income countries in the EU. So, who are the countries receiving the EUA income?
Europe’s Emissions Trading System (ETS):Who will pay the bill? January 1, 2024 will see the beginning of yet another era in shipping: Vessels calling European ports will become subject to Europe’s Emissions Trading System (ETS), eventually having to surrender Carbon Credits (EUAs) for the CO2 emissions generated on journeys to/from EU ports (50%) as well…
When discussing the need to procure EUAs to be compliant with Europe’s upcoming ETS regime, we are often confronted with one question: “How do I make sure I get the best possible price?”. But diving deeper into the unique challenges of shipping, we quickly conclude that this is not it alone. We are convinced that the selection of the right trading platform must challenge possible solutions around multiple aspects. Here is our top 5: