27.9.2023
The EU has previously decided to introduce the Emission Trading System (ETS) for shipping starting January 1, 2024.
With the ETS, the EU is implementing a cost-driving framework for shipping companies to accelerate the transition to sustainable operations, creating incentives for the industry to increase investment in new technologies and switch to new fuels to reduce its environmental impact.
The practical effect of the ETS means that shipping companies have to buy allowances from the EU while investing in alternative fuels and new technologies. Consequently, ETS will have a significant impact on the cost base for the industry and the increased cost will need to be partially absorbed by our customers.
The new surcharge will officially come into force, first as of the 1st of January 2024. The surcharge which now can be found on our website is based on the current price level of the allowances. The ETS surcharge will be updated monthly and published on our website in a similar manner to other surcharges such as BAF and BioBAF.
For more information regarding EU ETS: Reducing emissions from the shipping sector (europa.eu).