Committed to fight global warming, the European Union has adopted a legislative action plan with the objective of 55% reduction in greenhouse gas emissions by 2030. The EU Emission Trading System (ETS) is the world's first major carbon market and is included in this plan.
Initially applied to energy-intensive sectors only, the EU ETS will be extended to shipping from January 1st, 2024. Shipping lines will be required to report their emissions and purchase an equivalent amount of carbon allowances.
In 2024, 40% of reported emissions will have to be converted into carbon allowance; in 2025, 70%; in 2026, 100%.
EU ETS will apply to all maritime services with at least one call within the EU: 100% of emissions will be considered for legs between 2 EU ports, and 50% of the emissions for legs between EU ports and non-EU ports.
Therefore, these extra sustainability costs will be passed on to shippers in the form of a new surcharge: the EU ETS Fee.
Estimated costs for the first quarter of 2024 vary between EUR 20/TEU and EUR 41/TEU depending on the tradelane and carrier. An apportion of costs is also expected for LCL shipments.
Please find below an estimate of surcharges announced by some carriers so far:
