Global Maritime Hub
No Result
View All Result
  • Login
  • Premium Content
    • All
    • Economic Impact
    • Emissions, Fuel Technology & Environment
    • Financing
    • Hinterland & Intermodal
    • Offshore Vessels Market
    • Piracy & Security
    • Port Environmental Impact
    • Ports & Terminals
    • Ship Building
    • Shipping Economic Trends & Regions
    • Shipping Workforce Issues
  • Blog
  • Events
  • Industry Links
    • Broker
    • Certification
    • Consultant
    • Industry Association
    • Institute & Think Tank
    • Legal Experts
    • Official Institution / Body
    • Port & Port Authority
    • Recruitment Specialist
    • Research & Market Data
    • Shipping Company
    • Industry Blog
    • Trade Media
    • Training & Education
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
    • GLOBAL HYDROGEN HUB
  • FREE TRIAL
  • My account
  • Login
SUBSCRIBE
  • Premium Content
    • All
    • Economic Impact
    • Emissions, Fuel Technology & Environment
    • Financing
    • Hinterland & Intermodal
    • Offshore Vessels Market
    • Piracy & Security
    • Port Environmental Impact
    • Ports & Terminals
    • Ship Building
    • Shipping Economic Trends & Regions
    • Shipping Workforce Issues
  • Blog
  • Events
  • Industry Links
    • Broker
    • Certification
    • Consultant
    • Industry Association
    • Institute & Think Tank
    • Legal Experts
    • Official Institution / Body
    • Port & Port Authority
    • Recruitment Specialist
    • Research & Market Data
    • Shipping Company
    • Industry Blog
    • Trade Media
    • Training & Education
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
    • GLOBAL HYDROGEN HUB
  • FREE TRIAL
  • My account
  • Login
Global Maritime Hub
No Result
View All Result
Home Bunker Fuel

Shipping set for €3 billion-plus 2024 EU ETS bill

Editor by Editor
3 months ago
Reading Time: 2 mins read
Shipping set for €3 billion-plus 2024 EU ETS bill
Share on FacebookShare on TwitterShare on Linkedin

The European Union’s Monitoring, Reporting and Verification (EU MRV) dataset for shipping’s European CO2 emissions (ETS) for the year 2022 has just been published, with the data highlighting some significant year-on-year changes from 2021 despite the shipping industry as a whole showing a modest reduction in emissions.

RELATED POSTS

Port-throughput-drops

Port throughput drops sharply in Europe and the US

2 weeks ago
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 37, 2023.

2 weeks ago
increase-in -ship-size

Far East-North America trade sees big increase in ship size

3 weeks ago

The EU MRV regulation requires all ships exceeding 5,000 gross tons to collect and report data on CO2 emissions released to and from EU and EEA ports and will serve as the basis for shipping’s inclusion in the EU Emissions Trading System (ETS) from 1 January 2024.

Total ETS-applicable emissions for the maritime industry amounted to 83.4 million metric tonnes of CO2 equivalent (tCO2e) in 2022, a modest decrease of 0.22% from 2021. At the current market value of €90 per emissions allowance (EUA), shipping emissions carried a total worth of €7.5 billion for the year.

Taking into account the ETS phase-in period covering 40% of emissions in 2024, 70% in 2025 and 100% in 2026, and utilizing the forward curve in EUAs, our estimates indicate that the shipping industry could be liable for €3.1 billion in 2024, €5.7 billion in 2025 and €8.4 billion in 2026.

Notable segment decreases and increases

The data showed emissions decreases across multiple shipping segments, including tankers, container ships, general cargo ships, reefers, Ro-Ros and chemical tankers.

The container sector showed the largest reduction, falling by 8.95% equating to 2.3 million metric tonnes of CO2 equivalent (tCO2e) saved.

However, passenger ships and LNG carriers logged substantial increases. The former scored highest, with a staggering 118% year-on-year rise equating to 2.8 million (tCO2e), the latter recording a 63% increase equating to 2.1 million tCO2e.

Shift in trading patterns

It is important to note that the changes in emissions levels are less reflective of improved environmental operations as they are of altered European trade patterns.

Container shipping, for example, experienced a bumper year in 2021 versus a noticeably cooler market in 2022, while LNG carriers saw a dramatic trading shift away from Asia towards Europe as Europe reduced its reliance on pipeline gas in the wake of Russia’s invasion of Ukraine, importing significantly more LNG by sea.

Source: HECLA


RELATED POSTS

Port-throughput-drops

Port throughput drops sharply in Europe and the US

2 weeks ago
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 37, 2023.

2 weeks ago
increase-in -ship-size

Far East-North America trade sees big increase in ship size

3 weeks ago
Tags: ETSshipping emissions
Editor

Editor

Related Posts

Port-throughput-drops
Shipping Trends

Port throughput drops sharply in Europe and the US

2 weeks ago
Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 37, 2023.

2 weeks ago
increase-in -ship-size
Shipping Trends

Far East-North America trade sees big increase in ship size

3 weeks ago
Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 36, 2023.

3 weeks ago
COSCO
Shipping Trends

COSCO rises, while ZIM falls to bottom of margin rankings

4 weeks ago
Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 35, 2023.

4 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Trending Posts

increase-in -ship-size

Far East-North America trade sees big increase in ship size

September 7, 2023
OceanScore and RWE team up to mitigate shipping emissions risk with EU ETS management solution

OceanScore and RWE team up to mitigate shipping emissions risk with EU ETS management solution

August 31, 2023
COSCO

COSCO rises, while ZIM falls to bottom of margin rankings

September 1, 2023

Recent Post

Port-throughput-drops

Port throughput drops sharply in Europe and the US

September 15, 2023
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 37, 2023.

September 14, 2023
increase-in -ship-size

Far East-North America trade sees big increase in ship size

September 7, 2023
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 36, 2023.

September 7, 2023
COSCO

COSCO rises, while ZIM falls to bottom of margin rankings

September 1, 2023
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 35, 2023.

August 31, 2023

Online platform for sharing information & analysis on trade, shipping, ports and the maritime business more info

Categories

  • Shipping Economic Trends & Regions
  • Ports & Terminals
  • Piracy & Security
  • Emissions, Fuel Technology & Environment
  • Economic Impact
  • Financing
  • Ship Building
  • Hinterland & Intermodal
  • Offshore Vessels
  • Port Environmental Impact
  • Shipping Workforce

Recent Posts

Port throughput drops sharply in Europe and the US

MABUX: Bunker Weekly Outlook, Week 37, 2023.

Far East-North America trade sees big increase in ship size

Weekly Updates

Sign up to receive our weekly newsletter (each Thursday) with new shipping industry market reports, presentations & analysis.

By signing up, I agree to our TOS and Privacy Policy.

© 2020 GlobalMaritimeHub | All Rights Reserved

No Result
View All Result
  • Premium Content
    • All
    • Economic Impact
    • Emissions, Fuel Technology & Environment
    • Financing
    • Hinterland & Intermodal
    • Offshore Vessels Market
    • Piracy & Security
    • Port Environmental Impact
    • Ports & Terminals
    • Ship Building
    • Shipping Economic Trends & Regions
    • Shipping Workforce Issues
  • Blog
  • Events
  • Industry Links
    • Broker
    • Certification
    • Consultant
    • Industry Association
    • Institute & Think Tank
    • Legal Experts
    • Official Institution / Body
    • Port & Port Authority
    • Recruitment Specialist
    • Research & Market Data
    • Shipping Company
    • Industry Blog
    • Trade Media
    • Training & Education
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
    • GLOBAL HYDROGEN HUB
  • FREE TRIAL
  • My account
  • Login

© 2020 GlobalMaritimeHub | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Brighten Up Your Thursday!

SIGN UP to receive our free weekly newsletter with new shipping market reports, presentations & analysis! EVERY THURSDAY!