Tag: OceanScore
OceanScore: Identifying the Impact of FuelEU Maritime on Shipping Companies
The financial impact of FuelEU Maritime is focusing the minds of shipping companies as they face potential penalties for non-compliance with greenhouse gas (GHG) intensity reduction targets – and OceanScore has identified those segments set to be hit hardest. Vessels in the passenger/cruise, container, RoPax, bulker and tanker segments will have significant cost exposure from…
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…
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,…
OceanScore analysis shows near-tripling of EU ETS costs due to Red Sea crisis
Persistent missile attacks by Houthi rebels on ships plying the Red Sea route have led to soaring emissions liabilities for shipping companies under the EU ETS as lengthy voyage diversions for Europe-bound vessels have multiplied fuel consumption, according to OceanScore. An increasing number of commercial ships have been taking the alternative route to Europe via…
Shipping companies must manage financial balancing act on EU ETS tightrope, says OceanScore
Shipping companies are facing significant financial exposure from introduction of the EU Emissions Trading System (EU ETS) next year that will increase balance sheet risk, further fuelled by carbon price volatility and the threat of fines for non-compliance. The big question is: who will foot the bill? And that bill will be substantial. In 2022,…
Trading places: shipping must manage new financial risks with transition to EU ETS, says OceanScore
The concept of trading is about to take on a whole new meaning for shipping companies with implementation of the EU Emissions Trading System (EU ETS) for maritime from next year. As well as monitoring their emissions to meet reporting requirements, companies must now grapple with the complexities of carbon credit trading to manage and…
OceanScore and RWE team up to mitigate emissions risk with EU ETS management solution for shipping
An integrated solution that enables ship operators both to manage emissions liabilities and trade carbon allowances under the impending EU ETS regime for shipping has been launched by maritime data firm OceanScore. “The industry faces a major challenge to navigate the complexity of the new regulation and mitigate financial risk due to the requirement to…
