Owners face significant emission bills under EU-ETS without proper management
(Posted on 28/06/24)
The integration of the shipping sector into the European Union Emissions Trading System (EU-ETS) marks a pivotal step towards a more sustainable and decarbonised maritime industry. However, this new regulation brings substantial costs and compliance challenges for ship owners. Oceanly, a leading provider of fleet performance solutions, warns that without proper management, ship owners could face considerable financial liabilities.
As from 1st January, 2024, ship owners are required to purchase emission allowances for the CO2 their vessels emit. With the current EU Allowance (EUA) price hovering around €70 per tonne, the financial impact can be substantial, particularly as the EU-ETS phases in over the next three years. Initially, ships must cover 40% of their emissions liabilities, but this escalates in subsequent years.
Validation of voyage emissions data and the allocation of EU-ETS costs are critical hurdles for ship owners as failure to accurately monitor, report, and verify emissions could result in substantial bills.
Matteo Barsotti, Operations Manager of Oceanly, stated: “The integration of shipping into the EU-ETS represents a major milestone in our industry's sustainability journey. However, ship owners could find themselves facing enormous emission bills if they do not proactively manage their emissions under the EU-ETS. These costs can escalate quickly so effective emissions management is essential not only for compliance but also for mitigating financial risks.”
To address these challenges, Oceanly offers its innovative Oceanly Performance solution, designed to streamline emissions management and compliance so owners can stay ahead of the regulatory curve while optimizing their operations.
Oceanly Performance reduces administrative burdens by automating the collection of essential data, such as fuel consumption and voyage information.
Its advanced monitoring capabilities provide real-time insights into carbon emissions, enabling timely operational adjustments to enhance fuel efficiency and reduce emissions.
Other features include:
Comprehensive Reporting: The platform generates detailed reports that comply with EU-ETS requirements, ensuring accurate and transparent emission reporting for regulatory submission.
Regulatory Updates: Oceanly Performance stays current with evolving EU-ETS regulations, ensuring ongoing compliance for shipping companies.
Expert Support: Oceanly's team of industry experts offers comprehensive support, including technical assistance, training, and consulting services to guide companies through the compliance process.
Mr Barsotti added: “Oceanly Performance empowers ship owners to manage their emissions effectively, ensuring compliance and promoting energy efficiency. Our solution not only helps reduce emissions but also drives significant fuel savings of between 3% and 11% per vessel.”
Latest News
Positive results for Pacific Basin despite weaker freight market
(Posted on 15/08/25)Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, has announced... Read more
Swedish Club: Geopolitical volatility is new normal for marine insurance
(Posted on 14/08/25)The shipping industry must accept that geopolitical instability is now a permanent part of the operating... Read more
Diverse vessel and market portfolio provides resilience for Algoma
(Posted on 11/08/25)Algoma Central Corporation has reported its results for the three and six months ended June 30, 2025... Read more
Columbia: Compliance must be more than box-ticking exercise
(Posted on 11/08/25)The International Maritime Organization’s Maritime Safety Committee (MSC) has sent a clear message... Read more
DNV and RSI complete study on decarbonising short sea dry bulk fleet
(Posted on 07/08/25)Amid increasing pressure on shipping to achieve the IMO 2050 decarbonization targets, the Responsible... Read more
London P&I Club warns industry over incorrect FIBC loading
(Posted on 04/08/25)The London P&I Club has renewed calls on ship owners, operators and charterers to address potential... Read more
Columbia Group calls for overhaul of maritime training
(Posted on 04/08/25)Columbia Group is calling for urgent reforms in maritime education to address a growing shortage of... Read more
MIS launches as new global media platform
(Posted on 30/07/25)Maritime Information Services (MIS) has officially launched as a global media platform delivering daily... Read more
Russian and Ukrainian seafarers continue struggle with psychiatric fallout of war
(Posted on 30/07/25)Russian and Ukrainian seafarers continue to experience significant psychological strain following the... Read more
Noatum expands global footprint with inauguration of Shanghai office
(Posted on 30/07/25)Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, announced the official... Read more
