Ship&Offshore | Issue 04/2024
Significant impact on Asian owners
The EU Emissions Trading System (EU ETS) is likely to cost Asian owners about EUR 500 million this year, according to Hamburg-based maritime technology firm, OceanScore. Since the beginning of January, shipowners trading to, from, or within Europe have become liable for 40% of their ships’ carbon emissions and will have to surrender EU Allowances (EUAs) equivalent to this by September 2025. This will increase sharply next January, rising to 70% of emissions, with EUAs to be surrendered by September 2026....