Tag: ETS
DNV updates Emissions Connect to help industry mitigate FuelEU Maritime challenges and risks
DNV has upgraded its emissions data verification and management platform, Emissions Connect, to help the maritime industry navigate the commercial challenges posed by the FuelEU Maritime regulations, which take effect on 1 January 2025. The platform’s enhancements arrive at a critical moment as the industry prepares to comply with new environmental requirements aimed at reducing…
Driving efficiency and trust: DNV’s Emissions Connect in the new EU ETS landscape
The EU’s Emissions Trading System (ETS) has significantly impacted shipping, affecting financial operations and daily management. Frontline, a leading tanker company, uses DNV’s Emissions Connect to navigate these changes. With the expansion of the EU ETS in January 2024, accurate emissions data has become crucial. DNV’s platform ensures reliable emissions verification, helping companies manage costs.…
LNG Availability And EU Election Keep EU ETS Allowance Flat
The UK Emissions Trading System (ETS) also ended its weeks-long upward trend due to a pause in speculative buying. According to Carlton Carbon’s data for the week, EU Allowance (EUAs) prices declined by €2.71 (3.66%) to €71.39, reflecting a 3.26% drop in the month-ahead TTF gas benchmark over the same period. In the UK, carbon…
Onboard Carbon Capture A Promising Solution for Shipping Industry Decarbonization
Onboard carbon capture (OCC) is garnering significant interest within the shipping industry, presenting shipowners with the possibility of continuing to use conventional fuels while reducing emissions. However, according to DNV’s latest whitepaper, “The Potential of Onboard Carbon Capture in Shipping,” the success of OCC hinges on collaboration among regulators, policymakers, industry stakeholders, classification societies, and…
Increasing ships’ efficiency and decreasing underperformance claims – a “virtuous circle”
Underperformance claims, where a vessel is alleged to consume more bunkers and/or to steam more slowly than is warranted in the charter party, are one of the most common types of defense claims that the club is asked to advise on and handle. Added to this, any actual underperformance by the vessel is likely to…
EU ETS: catalyst for change, mired in growing pains
The European Union’s Emissions Trading System (ETS) continues to cause confusion and consternation for stakeholders in shipping, with questions around ballast legs, accounting for allowances, and compliance. A panel discussion at the Baltic Exchange’s Freight Forum in Singapore explored the complexities and opportunities surrounding the ETS, with Baltic Exchange carbon lead Martin Crawford-Brunt moderating the…
Singapore’s EU ETS liabilities of €330m can accelerate green shipping initiatives, says OceanScore
Singapore-registered vessels will be required to contribute a significant €330m share of Asian shipping’s total emissions liabilities under the EU ETS, underlining the importance of the Lion City as a key maritime hub for both global trade and decarbonization, according to OceanScore. The Hamburg-based maritime technology firm’s modelling analysis shows that 5.5 million EU Allowances…
Navigating the EU ETS with a shipping pool – preparations and reflections from Baumarine
With vessels over 5,000 gross tons required to monitor, report, and verify their CO2 emissions for voyages linking EU and European Economic Area (EEA) ports, a new era of accountability for shipowners is being ushered in. Aylin Coskun, Head of Partner Success for Baumarine by MaruKlav, the world’s largest Panamax shipping pool, shares her insights…
OceanScore identifies EU ETS best practice to tackle ‘strategy gaps’ on compliance
Many shipping companies are still striving to define their strategy for EU ETS compliance some 90 days after implementation of the complex regulation, according to OceanScore, as it leverages lessons learned from clients to date to define best practice. Shipowners are now required to acquire and account for EU Allowances (EUAs) on an ongoing basis,…
ETS: ‘Quite a year’ for ship owners
It has been “quite a year” for ship owners preparing for the EU Emission Trading System, according to Steve Laybourn, chartering manager at Ardmore Shipping. Describing the preparation as a “bit of a rollercoaster ride”, Laybourn urged laggards to move quickly and put in place proactive measures. “We’ve had to negotiate everything from our internal…
