If you’re a mid size charterer or owner you can expect an added carbon cost of approximately 10 million USD to your freight costs, once shipping enters the EU ETS. Do you know the carbon cost exposure of your chartering activities? We've outlined three steps that will allow you to predict the 2024 EU ETS cost of your chartering activities.
The full storyWe are excited to see the first version of Climate TRACE world emissions map and intelligence being published, and proud to say that Siglar Carbon played a small part, reviewing their maritime prediction model. We share the goal of making emissions insight available, because effective decarbonization starts with detailed knowledge of emissions sources – also in the maritime industry.
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The European Union proposes a basket of measures to decarbonise the maritime industry, which will influence freight rates in different ways. Shipping emissions will become a cost element in freight negotiations and a part of ship owners, brokers and cargo owners' everyday business.
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The European Union’s “Fit for 55”-package proposes to decarbonize shipping by imposing a first-ever greenhouse gas (GHG) intensity limit on ship energy usage, a minimum tax on bunker fuels and a requirement to pay for shipping emissions in the emissions trading system (ETS) from 2023, with a full phase-in by 2026.
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