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AVALON SHIPPING SRL - Romanian Shipping Agency

From 1 January 2024, the EU Emissions Trading System (EU ETS) expands to include maritime transport.

The rules will apply to cargo and passenger vessels with a gross tonnage of more than 5,000 tonnes.

In addition, all shipping companies are now required to report all their voyages once a year to the IMO organisation in the country of home port.
The latter in turn will forward all collected reports to the main unit.

According to emissions monitoring platform OceanScore, the maritime industry produced 126 million tonnes of CO2 in 2022 as a result of voyages to European ports, both domestic and international. One calculation shows that 82.7 million EU allowances (EUAs) or carbon credits under the ETS would be needed to cover this amount of emissions, resulting in a total cost of €6.5 billion at the current price of €78 per EUA.
The most interesting thing is that, according to the latest research, this measure will not change the situation with greenhouse gas emissions much, but it will hit the end consumer’s wallet hard.

These costs are passed on by shipping companies to charterers, who in turn pass them on to end-users. On average, costs increase by $30-100 per TU, depending on distance.

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