The ship sailing in Europe have to witness big emissions bills

Hefty Emissions bills will be soon levied for the ships transporting everything from consumer goods to food and fuel in and out of the European Union as the maritime industry will join the bloc’s Emissions Trading System in January. This means that huge ships will have to pay for carbon emissions. This new rule will be affecting many of the major shipping lines as now they would have to spend hundreds of millions of dollars whenever they transport.

The research says that the vessels carrying a load of over 80% are a big source of emission and pump around one billion of carbon dioxide each year. This new rule is to bring change, solve the issue with international shipping, and bring climate change. Even though the fees are sizable, it will not have much impact. For a single container ship sailing between Europe and Asia, the emission cost would be around euro 810000 assuming the carbon market price is euro 90 for a ton. As the carbon price is about euro 900, it will not be heavy on the pockets and transporters will not opt for expensive marine biofuels but will still use pollution oil-based fuels and pay for emissions.

However, the new emissions system will allow shippers to be more fuel efficient as more and more allowances are provided to buy alternative fuels like methane. The nitrous oxide will be included in years to come to the list.

The EU also has a distinctive regulation coming into action in 2025 called the FuelEU Maritime, which should help shippers make a move toward cleaner fuels. It sets maximum limits on the annual greenhouse gas intensity of the energy used by vessels, with the targets getting tougher as time passes.