EMEA News
ICCT Urges UK ETS Expansion to Cover International Shipping Emissions
The UK’s expansion of its ETS to shipping in 2026 will leave most international maritime emissions outside the system, according to analysis from non-profit think tank International Council on Clean Transportation.
Under the current framework, the UK ETS will apply to vessels of 5,000 GT and above operating between UK ports, as well as emissions generated while at berth or anchor in UK waters, it said in a report released on Tuesday.
The ICCT said ships on UK-related voyages emitted 16.4 million mt of CO2e in 2023, with international voyages accounting for 12.1 million mt of that total - by far the largest share.
However, the planned 2026 UK ETS scope would cover only 2.5 million mt of CO2e, or about 15% of total UK-related shipping emissions.
According to the analysis, including 50% of emissions from UK-international voyages for ships above 5,000 GT could more than triple emissions coverage and generate £290 million to £360 million in annual revenue.
The organisation added that extending the scheme further to include vessels below 5,000 GT could raise total coverage to 10.3 million mt of CO2e and increase annual revenue to as much as £710 million.
The ICCT said broader coverage would also reduce the risk of operators restructuring routes or deploying smaller vessels to avoid emissions costs under the scheme.
Domestic maritime emissions will be brought under the UK ETS from July 1, 2026.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
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| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| EMEA Average | 917.50 | 14.00 | 1740.00 | 21.00 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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