The European Union’s Emission Trading System (ETS) will soon include marine emissions, with all vessels over 5,000 GRT trading in EU ports having their CO2 emissions counted towards the overall ETS cap starting in January 2024. This means that shipping companies will have to purchase and surrender EU ETS emissions allowances for each tonne of reported CO2 emissions. The challenges for companies operating within the EU ETS include monitoring their ships’ greenhouse gas emissions, submitting Emission Reports, and complying with the new regulations.
To address the challenges posed by the EU ETS, AXSMarine has developed tailor-made tools for monitoring and estimating CO2 and other emissions data. Their latest solution provides data on CO2 emissions, EUA 2024 CO2 cost, and EUA Freight impact per voyage, as well as estimating CO2 costs and effects on freight rates per year. AXSMarine’s solution also provides EUA price exposure by year of EU ETS implementation for individual vessels or entire fleet segments.
For shipping companies, the impending inclusion of marine emissions in the EU’s Emission Trading System means they will have to comply with new regulations and monitor their ships’ greenhouse gas emissions. AXSMarine has developed tailor-made tools to help companies meet these challenges, providing data on CO2 emissions and estimating CO2 costs and effects on freight rates. Their solutions are designed to help shipping professionals navigate the complexities of the new regulations and ensure compliance.