European emissions trading system to be extended to shipping

From 1 January 2024, shipping lines whose fleets call at European ports will have to purchase freely tradable emissions certificates. Maritime transport currently accounts for 2.5 per cent of global CO2 emissions and 13 per cent of total greenhouse gas emissions from the transport sector in the EU. For this reason, the European Commission has also proposed regulatory measures for the complete decarbonisation of shipping by 2050 as part of its Fit for 55 package. In a first step, emission allowances will be issued to shipping companies, which can then be freely traded. This is intended to create a market price for CO2 emissions and incentivise emission reductions.

For international maritime transport (port of arrival or departure is in the EU), shipping companies - regardless of their flag - must purchase certificates for 40 per cent of their fleet's emissions. The quota will then rise to 70 per cent from 2025 and to 100 per cent from 2026. Voyages between EU ports will be covered by the EU ETS at 100 per cent from 2024. Exact billing models are not yet known, but an example calculation can be used to estimate the certificate price (40 per cent) for a standard 40-foot container from Shanghai to Hamburg at around 350.00 euros. These costs incurred by the shipping companies will most likely be passed on to the shipping industry and thus have a noticeable impact on the shipping costs.

Source: VBSp. e.V.