Imminent EU climate rule for ships is set to add to fuel bills
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The FuelEU Maritime regulation, coming into force Jan. 1, requires a 2% reduction in the greenhouse gas intensity of energy used by vessels. That’s set to add to the industry’s costs, though the precise amounts paid will depend — in part — on how shippers approach the new rules.
The global shipping industry spews hundreds of millions of tons of greenhouse gases into the atmosphere each year and is under mounting pressure to decarbonize. While it already has to pay for some of its pollution under the EU’s Emissions Trading System — which is ratcheting up next year — the new rules should ultimately force the sector to emit significantly less.
One potential compliance option for shippers is to incorporate a small amount of biofuel into their overall fuel use. If they were to use what’s known as B30 — which contains at least 30% bio-component — they would end up paying about $30 a ton more overall for their marine fuel than if they were still purely relying on heavy fuel oil, according to Risto-Juhani Kariranta, a master mariner and chief executive officer at Ahti, a firm that specializes in helping shippers comply.
A potentially cheaper option would be for a ship to join a pool of other vessels, Kariranta said. In this approach, another ship within the group could use
