Shipowners urged to act now to benefit from vessel pooling

CarbonLeap is an independent organization for managing monetized carbon reductions in global transportation. It has advised shipowners to take immediate action to leverage the cost-saving benefits of vessel pooling. The company opines that it is necessary for meeting FuelEU Maritime compliance targets.

Further procrastination of the decision to join a pool until early 2026 could result in substantial financial penalties. Shipowners who establish pooling contracts before the FuelEU monitoring period begins in 2025 will be better positioned to reduce compliance costs and pass these savings on to their customers, it opines.

Pooling also provides shipowners more time to prepare and invest for future regulatory requirements, particularly the 6% well-to-wake GHG intensity target set for 2030. This is particularly advantageous for tramp shippers, who may face challenges in accessing compliant fuels at various ports, according to CarbonLeap.

Once the FuelEU Maritime regulations take effect in 2025 for vessels operating in, to, or from European Union ports, shipowners will have three options for compliance: paying a penalty of US$2,600 per tonne of VLSFO energy equivalent, investing in more expensive alternative fuels and energy-efficient technologies, or utilizing the FuelEU pooling mechanism. Pooling allows them to benefit from lower emissions achieved by vessels that exceed compliance targets. Choosing the right compliance strategy is essential to avoid severe financial consequences.