Implementation of the EU ETS-surcharge w.e.o. January 1st, 2024

Fighting the global warming and to contribute to the global effort to reduce greenhouse gas emissions, carriers will introduce a new surcharge with effect of January 1st 2024, called “EU Emissions Trading System”. The EU ETS-surcharge commits to reach a Net Zero Carbon in 2050. It sets a cap on the emissions that companies in certain industries produce. It requires them to obtain allowances that equals their emissions above the cap.

A phased-in approach of EU ETS will be implemented for the shipping industry over the next three years, i.e. 40% of total verified emissions calculated from 2024, 70% in 2025, and 100% in 2026. The ETS will be reviewed monthly based on a benchmark public index.