Ship&Offshore | Issue 08/2024
Possible new revenue stream for European repair yards
With emission regulations set to tighten steadily, buoyant charter markets prevailing across most key sectors, newbuilding yards booked up for years, and the cost of new vessels climbing sharply, there is a clear case for upgrading existing ships without delay. The strategy could prove particularly interesting for companies whose vessels serve ports in Europe. With the advent of FuelEU Maritime next January, experts estimate that vessels trading in, to, or from European waters that use conventional marine fuels – about 13,000 ships of more than 5,000gt in total – will incur penalties of close to USD 1.5...