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European shipping emits 140 million tonnes of CO2 annually. But the bill for reducing the harmful emissions or eliminate them entirely with the EU's new CO2 quotas could be huge.
The Norwegian maritime industry wants the money from the increased carbon levy gathered in a national fund, which will finance projects to advance the green transition.
The much anticipated trade agreement between the EU and several South American countries currently risks years of postponement. Shipping is one of the sectors that was set to benefit from the Mercosur agreement. But climate considerations have thwarted this.
NGO Transport & Environment now calls on the EU to include LNG and voyages outside the union, once shipping is inducted under the EU's emissions trading system. The announcement comes on the day when the EU Commission's consultation phase on the scheme expires.
There are several models for including shipping in the EU Emission Trading System in play, says the director of DG Clima. Solutions range from gradual to rapid phasing in. European shipowners prefer the former, but they warn against the plans.
The price of European carbon quotas is soaring, as the shipping sector is on track to soon be included in the system. Right now it costs USD 42 to emit a ton of carbon, the highest price ever. Maersk has asked the EU for permission to not pay at all.
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The EU must triple the speed of cuts to achieve its CO2 emissions reduction target by "at least 55 percent" before 2030, according to a new think tank report skeptical of whether the objectives are feasible.
A shortage of EU-approved recycling yards leaves shipowners with no choice but to re-flag old European ships before sending them to be recycled, says shipping organization Bimco. The EU does not agree with that assessment.
Friday morning, EU member states reach agreement on stricter CO2 reduction target for 2030 after negotiating through the night.
Italy's ports being exempt from paying taxes go against the EU's rules on state aid and equal competition. The country must, therefore, abolish its exemption, says Competition Commission Margrethe Vestager.
The EU Commission downgrades its GDP forecast for 2021 considerably, noting that it believes the economy is hit harder than previously estimated.
Maersk Tankers CEO Christian Ingerslev explains why the first influential shipping companies call for the industry to embrace regional climate legislation. Bimco fears that this could undermine the IMO process, the organization tells ShippingWatch.
The battle about CO2 quotas on shipping in the EU is lost, says Klaveness CEO Lasse Kristoffersen, who, together with Maersk Tankers, now encourages the industry to accept regional climate legislation. "Things are moving too slow in the IMO," he tells ShippingWatch.
In a noteworthy declaration, Maersk Tankers and Torvald Klaveness open up to letting the EU introduce and handle part of the climate legislation that regulates shipping. Till now, "regional initiatives" have been unthinkable to many stakeholders in the sector.
The European shipowners are disappointed by the EU's migration pact. In an open letter, shipowners' association ECSA calls for a guarantee that merchant vessels be allowed to put rescued migrants ashore.
The shipping sector faces decisive negotiations in the fall. The EU's efforts to include shipping in the Emissions Trading System are far from helpful, says the CEO of the World Shipping Council.
While the EU is working to include shipping under its Emissions Trading System, the German Shipowners' Association calls on EU Member States to work towards global rules for the shipping industry.
EU has earlier in the coronavirus process issued a warning to the container lines that are now facing criticism for having used the crisis to force prices up. But beyond this, the EU competition regulators will not interfere, ShippingWatch has learned.
The shipping sector will be included in the European Emissions Trading System, ETS, but it will be a light model at first, shows a leaked memo which ShippingWatch has read.
The EU Commission will before long decide on how the shipping sector should be placed under the European Emissions Trading System. One area in particular is decisive to Maersk and the rest of the sector.
The EU should strengthen its response to the Chinese state's investment strategy in the union, says the European Court of Auditors. Investments in the maritime sector are up, but there is a lack of regulations to safeguard Europeans against illegal state aid.
Associated Press reports that the US and EU have agreed to lift tariffs on a series of goods. The agreement will be effective for five years at first.
International shipping associations such as Bimco and ICS want the EU to postpone the requirement that all ships must carry a list of hazardous materials on board from the turn of the year. The EU refuses. Danish Shipping is against blanket postponements.
The EU Commission on Wednesday presented an energy strategy that will help push Europe toward climate neutrality by 2050. The plan comes at the right time, says NGO.
Conservative EU parliamentarian Pernille Weiss is accused by a think tank of having too close ties to association Danish Shipping, while negotiations on shipping's carbon footprint enters decisive phase. She denies the accusations.
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