Ships carrying everything from consumer goods to food and fuel in and out of the European Union will soon face hefty emissions bills. The maritime industry will join the bloc’s Emissions Trading System in January, meaning big ships will start paying for carbon emissions. Some major freight firms—such as MSC Mediterranean Shipping Company SA and
Ships carrying everything from consumer goods to food and fuel in and out of the European Union will soon face hefty emissions bills.
“The EU ETS will increase the freight rates,” said Tore Longva, decarbonization director at ship classification society DNV. But vessel supply and demand is likely to have a bigger impact on shipping rates, he said. In the first year, 40 percent of the qualifying emissions are chargeable, so that ship would face costs for 9,000 tons of CO2.That would rise to €1.4 million in 2025 when 70 percent of emissions must be covered and €2 million in 2026 when all emissions are chargeable .
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