3 steps to predict the carbon cost exposure of your shipping programme
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 storyThe IMO’s Marine Environment Protection Committee met for their 80th session between 3rd and 7th July. The committee agreed to reach net-zero GHG emissions from international shipping ‘by or around’ 2050 and that the mid-term GHG reduction measures, including a maritime GHG emissions pricing mechanism should be finalised and adopted by 2025. Let’s take a closer look at the key outcomes of the meeting.
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A fee of 150 USD per tonne CO2e emitted from ships discharging international cargo at U.S. ports is suggested to be implemented from January 2024. The new carbon fee would be added to the EU ETS carbon cost.
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Shipping’s inclusion in the European Union’s Emissions Trading System (EU ETS) brought carbon pricing to the maritime sector. For charterers who want to leverage the opportunities of the transition, it’s time to embrace the change and learn how to navigate the EU ETS. A good way to start is to understand how the new regulations impact your everyday work so we sum up some key aspects of the EU ETS - from a charterer’s perspective.
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