Tag: EU ETS
Samskip advances zero-emission shipping, partnering with TECO 2030
Samskip is participating in the groundbreaking HyEkoTank project, an initiative under the European Union’s Horizon Europe program. This project focuses on retrofitting the Samskip Kvitnos, a multipurpose vessel, with advanced hydrogen fuel cell technology developed by TECO 2030. This step aligns with Samskip’s goal of achieving net zero emissions by 2040, reflecting the company’s ongoing…
Regulations and shipowner experience driving wind power adoption
Demand for wind-assisted propulsion is rising as systems prove effective and emissions regulations increase their commercial viability. More shipowners are now interested in these technologies for new vessels, not just older ones, demonstrating growing confidence in their benefits, according to Cristina Aleixendri, COO & Co-founder of bound4blue. Earlier this year, bound4blue received its first newbuild…
EU Emission Trading System – smooth sailing a half year into 2024?
Starting in 2024, any shipping company with cargo or passenger vessels of 5,000 gross tonnage (GT) or above that call at a port within the European Economic Area (EEA) must adhere to stringent new CO2 emissions regulations. These regulations, which are part of the EU Emission Trading System (ETS), require these companies to cover 40%…
Navigating EU ETS with data – and positively impacting shipping’s decarbonisation trajectory
The European Union Emissions Trading System (EU ETS) stands as a cornerstone in the global endeavour to mitigate climate change, and its extension to the maritime sector earlier this year has already begun to accelerate the shift towards greener shipping. Expanding EU ETS to cover shipping is integral to the EU’s Green Deal, and requires…
Stolt Tankers Implements Shipshave’s ITCH Solution to Boost Energy Efficiency
Stolt Tankers is expanding implementation of Shipshave’s In-Transit Cleaning of Hulls (ITCH) solution across its fleet after seeing significant fuel savings of over 10% from initial trials of the innovative technology to boost energy efficiency, reduce its carbon footprint and cut emission costs. As the world’s largest operator of chemical tankers, Stolt Tankers is adopting…
Understanding EU ETS Challenges and Costs for Greek Shipowners
Validation of voyage emissions data and contractual arrangements for allocation of EU ETS costs remain key challenges for Greek shipowners, as they face an estimated total €335 million bill this year, potentially rising to €1 billion once the regulation is fully implemented, according to OceanScore. Some 2135 vessels owned or operated by around 400 Greek…
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…
Oceanly Performance ensures EU-ETS compliance for the shipping industry
As the world races towards carbon neutrality, Oceanly, a leading provider of fleet performance solutions, has produced an innovative approach to EU Emissions Trading System (EU-ETS) compliance for the shipping industry. Oceanly Performance offers shipping companies a seamless pathway to monitor, report, and verify their carbon emissions under the EU-ETS, which came into force on…
Reflecting on One Year of CII Regulations: Navigating Decarbonization in Shipping
As we mark one year since the enforcement of the Carbon Intensity Indicator (CII) regulation, the maritime industry is reflecting on the impacts and challenges of this important step towards decarbonization. The CII is a measure of a ship’s energy efficiency and has been a focal point for assessing and improving environmental performance within maritime…
