As part of its climate change policy, the European Union has mandated the extension of the Emission Trading System (ETS) to maritime transport emissions as of the 1st of January 2024.
The ETS is part of the European Union’s “Fit for 55” package to address climate change through a 55% reduction in greenhouse gas (GHG) emissions by 2030 (compared to 1990 levels), with the long-term goal of zero emissions by 2050.
Under the new regulation, and to reduce their carbon footprint, shipping companies shall be required to buy emission allowances that offset 100% of their emissions that occur on voyages within the EU and 50% of their emissions on voyages where the port of departure or arrival is outside the EU.
Within this framework, there shall be a three-year adjustment period during which companies shall be able to buy emission allowances as follows:
For 40% of emissions in 2024
For 70% of emissions in 2025
For 100% of emissions in 2026
The new environmental regulation shall enter into force on 1st January 2024 for passenger ships of or above 5,000 gross tonnage that service islands with over 200,000 inhabitants as well as those that connect Greece with third countries. It must be clarified that Greece has been granted an exemption until 2029 regarding passenger ships that service islands with fewer than 200,000 inhabitants. As far as our company is concerned, the regulation covers our shipping to Crete and in the Adriatic.
The implementation of the EU ETS regulations is expected to result in significant increases in operating costs, as all shipping companies shall be required to purchase the European carbon market price of their carbon dioxide emissions for each ton of fuel consumed.
Compliance with the above regulatory requirements will entail increased operating costs for our fleet. In light of this and to ensure that our customers are impacted as little as possible, starting from 1st January 2024 the Anek – Superfast Joint Venture will implement the new EU ETS environmental surcharge on passenger, vehicle and cargo trucks and trailer tickets per route for our Adriatic services.
The detailed list with the respective charges is available here.
The EU ETS tariff shall be adjusted on a monthly basis according to the average market prices for CO2 emissions.
The EU ETS tariff collected by our company Anek – Superfast Joint Venture will be paid directly to the EU as part of ETS payments for the implementation of environmental programs and initiatives aimed at the reduction of carbon emissions and the transition to a more sustainable future.
For more details on the EU ETS, please visit the website of the European Commission.
Kallithea, 21st of December 2023