MSC warns of higher shipping costs in Europe

Mediterranean Shipping Company (MSC) has warned clients of higher costs with the inclusion of shipping in the EU’s carbon trading market. The EU emissions trading system (ETS), part of the “Fit for 55 package” to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels, requires companies to surrender allowances that

Carbon-accounted tanker assessments under ETS by Platts

S&P Global Commodity Insights has announced that it will introduce daily Platts price assessments for freight emissions under the European Union’s Emissions Trading System (ETS). The new assessments will show the cost of carbon dioxide emissions from fuel combustion to transport crude or fuel oil on an aframax tanker via an initial four European shipping

ETS scheme for shipping gets nod in European Council

Environment ministers in the European Council (EC) have agreed to include maritime shipping emissions within the scope of the EU emissions trading system (ETS), part of the “Fit for 55” package. The scheme aims to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. The Council agreed to phase in

EU Parliament voted to include shipping in carbon trading scheme

The European Union Parliament has voted in favour of extending its carbon market (ETS) to shipping and road transport. The Parliament agreed to include all ships above 400 gross tonnage and offshore vessels in the EU’s carbon market. Polluters will have to pay for CO2, methane and nitrous oxide emissions when sailing within the EU