02 Nov EU ETS rollout to brings shipping cost hike
Starting in 2024, the EU will include the shipping industry in its emissions trading scheme (ETS), significantly raising costs for carriers. Ships traveling between EU ports must cover 100% of their emissions, while those arriving from outside pay for 50%. This extends EU law to non-EU ports within 300 nautical miles, ensuring compliance. Larger ships face incremental emission payments, reaching 100% by 2026.
Approximately EUR1.5 billion from ETS auctions will fund maritime emission reduction. The ETS will pressure older, less efficient vessels, potentially costing carriers over five figures per day. Industry leaders foresee increased costs passed on to clients.
Carriers are navigating ways to fairly implement these charges and communicate the impact to customers transparently. Legal analysis on the ETS implications for the maritime sector is ongoing.
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