Emissions Trading Scheme News

ABS Wavesight, the ABS-affiliated software-as-a-service (SaaS) company, has been chosen by Navilands Group to provide a single integrated platform to help streamline compliance with the FuelEU Maritime Regulation and EU Emissions Trading Scheme (ETS) requirements.Navilands will implement the Carbon Diligence suite, part of the new ABS Wavesight Advantage platform, across a selection of bulkers and containerships, with further expansion planned by year-end.As of January 1, 2025…

ABS Wavesight, the ABS-affiliated software-as-a-service (SaaS) company, has been chosen by Navios Maritime Partners L.P. to provide a single integrated platform to support compliance with the FuelEU Maritime Regulation and EU Emissions Trading Scheme (ETS) requirements.As of January 1, 2025, companies with ships calling on EU ports must collect and report key fuel-related data in preparation for EU submission deadlines. The ABS Wavesight platform offers a seamless experience that…

The UK Maritime Minister Mike Kane has revealed the government’s new goals for all vessels that operate in UK waters and dock at UK ports to be carbon free.Part of the government’s Plan for Change, the new Maritime decarbonization strategy sets out goals to reduce greenhouse gas emissions by 30% by 2030, 80% by 2040 and to zero by 2050.This will see the UK match the highest level of the ambitious goals agreed at the IMO in its 2023 strategy on reduction of greenhouse gas emission from ships.

Vessel owners are making new fuel choices, but increasingly, they have options to help reduce the risk of doing so.The latest engine developments aim to make it easier for owners to avoid the chicken-and-egg fuel price and availability risks of new fuels.As Roger Holm, President of Wärtsilä Marine and Executive Vice President at Wärtsilä Corporation recently pointed out, the challenge is that owners won’t commit to a fuel today that is expensive, only produced in small quantities and may be usurped by another fuel that scales faster and more affordably.

MacGregor, part of Cargotec, launched a new free digital Carbon Calculator to help container shipping companies estimate the carbon dioxide emissions they can eliminate by upgrading their onboard container cargo system with MacGregor Cargo Boost.By maximizing container-carrying capacity on board existing ships, the Cargo Boost solution has been shown to increase average cargo system utilization from conventional rates of 80% to 90%, or even 100%. Across a 10-vessel fleet this can increase capacity by the equivalent of an additional ship.

Classification society Lloyd’s Register (LR) is collaborating with Amogy and RotoBoost in a study aimed at reducing emissions in the maritime industry. The joint development project (JDP) will assess the potential of advanced technologies such as hydrogen fuel cells, ammonia-to-power systems, and pre-combustion Carbon Dioxide Capture Storage (CCS) systems from technical, financial, and regulatory perspectives.This partnership marks a significant step toward evaluating how these…

Veracity by DNV and INTERTANKO announced a partnership, enabling DNV emissions verification customers to share their data with INTERTANKO, supporting the tanker sector's decarbonization efforts. 2024 is the first year where ships trading in the European Union are subject to its Emissions Trading Scheme (ETS). Verified emissions data are increasingly important for EU ETS commercial settlement, Carbon Intensity Indicator (CII) implementation, and operational efficiency requiring real-time verification of emissions data.

New Zealand's green credentials are at risk as the government rolls back environmental reforms in a bid to boost a flailing economy and fulfil promises made to its voters.Since taking power last year, Prime Minister Christopher Luxon's center-right coalition announced it will reverse a ban on oil and gas exploration, push the pricing of agricultural emissions back five year and encourage more mining.This is part of a government shift in priorities towards increasing exports to support an economy that grew just 0.3% in the year to March 2024…

Shipping must engage with the decarbonization realities that lie ahead by changing the way it crafts maritime legislation to reflect its place in the interconnected, interdependent world economy, says Eero Lehtovaara, Head of Regulatory & Public Affairs, ABB Marine & Ports.ABB Marine & Ports Head of Regulatory & Public Affairs, Eero Lehtovaara has carved out an unusual - and possibly unique - role in the maritime industry over recent years, as a ‘stakeholder’ simultaneously mindful of the perspectives of owners…

Sustainable shipping fuels could reach cost parity with fossil fuels as early as 2035 with the help of decisive emissions policy such as carbon taxes and emissions limits, according to a new report launched by Wärtsilä.The report, titled ‘Sustainable fuels for shipping by 2050 – the 3 key elements of success’, states that the EU Emissions Trading Scheme (ETS) and FuelEU Maritime Initiative will see the cost of using fossil fuels more than double by 2030. By 2035, they will close the price gap between fossil fuels and sustainable fuels for the very first time.Existing decarbonisation solutions…

Eastern Pacific Shipping (EPS) has signed a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs onboard the Pacific Sentinel.The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate propulsive efficiency, will be fitted in fourth quarter of 2024.The wind-assisted propulsion technology is expected to help the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%…

Shipping must engage with the decarbonization realities that lie ahead by changing the way it crafts maritime legislation to reflect its place in the interconnected, interdependent world economy, says Eero Lehtovaara, ABB Marine & Ports.ABB Marine & Ports Head of Regulatory & Public Affairs, Eero Lehtovaara has carved out an unusual - and possibly unique - role in the maritime industry over recent years, as a ‘stakeholder’ simultaneously mindful of the perspectives of owners, seafarers…

BAR Technologies, a developer of wind propulsion systems, has entered into partnership with floating offshore wind platforms pioneer Nervion Naval Offshore to manage and oversee the production of BAR Technologies’ wing sail design WindWings in Europe.The agreement with Nervion, a company owned by Amper Group and with factories in Ferrol and As Somozas in Galicia, Spain, is the first manufacturing partnership for BAR Technologies outside of China.It is expected to provide European customers…

Supply chains around the world could be at serious risk amid expected increases in the cost of ocean freight shipping during 2024.Oslo-based Xeneta has carried out in-depth analysis of the latest ocean freight rates and branded the current market as unsustainable.Xeneta CEO Patrik Berglund said: “The cost of moving goods by sea has plummeted during 2023 by almost 60% for long term contracts on a global level and some corridors, such as the Transatlantic into US East Coast and Far East to Europe…

The European Sea Ports Organisation (ESPO) has reiterated its support for an emissions trading scheme (ETS) as instrument for greening the shipping sector, but expresses its serious concern about first signs of carbon and business leakage due to the limited scope of the current legislation.For ESPO, the principle to consider calls to some transhipment ports neighbouring the EU as a “port of call” in the counting of the ETS charges is only a partial solution to the problem. ESPO agrees with the identification of Tanger Med and East Port Said as major neighbouring transhipments ports.

According to the latest edition of DNV’s Maritime Forecast to 2050, the shipping industry will find it challenging to secure enough supply of carbon-neutral fuels.To meet the anticipated demand of 17 million tonnes of oil equivalent (Mtoe) annually by 2030, the maritime sector would need to access 30-40% of the projected worldwide carbon-neutral fuel supply.As the shipping industry will compete for these fuels with aviation and road transportation, as well as other industries, their production needs to significantly accelerate if the industry’s emission-reduction goals are to be met.

The UK Emissions Trading Scheme Authority (UK ETS) – has announced that the scheme will be expanded to include domestic maritime transport from 2026.The scheme will be applicable to vessels of 5,000 gross tons or higher.The UK ETS is run by a joint body comprising the UK Government, Scottish Government, Welsh Government and the Department of Agriculture, Environment and Rural Affairs in Northern Ireland.The UK ETS was launched in 2021 to replace the UK’s participation in the EU ETS.

Technology company ZeroNorth has signed a long-term strategic partnership with energy and commodity company Vitol.The deal will see Vitol gain full access to the ZeroNorth platform, and ZeroNorth customers will in turn gain access to Vitol’s carbon reduction solutions and bunkering services through subsidiary Vitol Bunkers.Vitol will use the ZeroNorth platform to optimise operations in a number of key business areas, including voyage, vessel, bunker and emissions optimisation…

Sailing cargo ships are making a genuine comeback.Japanese bulk carrier MOL is operating a wind-assisted ship. American food giant Cargill is working with Olympic sailor Ben Ainslie to deploy WindWings on its routes. Swedish shipping company Wallenius is aiming for Oceanbird to cut emissions by up to 90%. The French start-up Zephyr & Borée has built the Canopée, which will transport parts of European Space Agency’s Ariane 6 rocket this year.I researched the decarbonisation of the shipping industry.

Interferry CEO Mike Corrigan explains the driving forces behind the global trade association’s imperative to keep its foot on the gas.Interferry and its members scaled some demanding peaks in 2022 but, to state the obvious, our work is never done. Facing an equally busy schedule of challenges and opportunities in the year ahead, we need to keep climbing – a truism that has been memorably expressed as ‘the top of one mountain is always the bottom of another’.Our 46th annual conference in Seattle last October was definitely one of the peaks…

Member states of the International Maritime Organisation (IMO), the UN agency that regulates international maritime affairs, are meeting on December 5-16 to discuss how to accelerate the industry’s climate mitigation efforts.An initial strategy – agreed in 2018, when the industry’s emissions were roughly the same as Germany’s – targeted a 50% reduction in shipping’s greenhouse gas emissions by 2050 and included a noncommittal aim to phase out emissions in line with the 1.5℃ temperature…

EU shipping power Greece has told the European Commission that adding the industry to the bloc's carbon emissions trading scheme should be proportionate and tightly enforced to secure a level playing field for the European fleet in global markets.In a letter sent to Commission head Ursula von der Leyen, Greek Prime Minister Kyriakos Mitsotakis said that countries should also get back the revenue raised by the costs their ships would pay and that money should be spent on decarbonizing maritime transport.Greek-owned vessels represent 58% of the EU's fleet…

Findings from a survey suggesting that ferries are poised to lead post-pandemic travel demand will underline an upbeat agenda when global trade association Interferry stages its 45th annual conference in October.Taking place in Santander, Spain, the latest edition of the ferry community’s longest-established conference is themed The Future is Ferries – marking it as a showcase for positive solutions and prospects in response to COVID-19, climate change and other major challenges.The survey results will feature in a presentation by London-based transport and logistics specialist L.E.K.