EMEA News
European Shipowners Urge ETS Revenues Be Invested in Green Fuels Production
European shipowners have called on the EU to invest revenues from the bloc’s Emissions Trading System (ETS) into clean marine fuel production in Europe.
Shipping contributes around EUR 9 billion annually to the EU ETS and the revenues should be used to expand clean marine fuel supply and narrow the price gap with conventional fuels, Sotiris Raptis, secretary general at European Community Shipowners' Associations (ECSA), said at a European Commission event on the EU ETS revision on Tuesday.
The group said Europe currently produces only 10% of sustainable fuels globally, with less than 5% allocated to maritime use, despite European shipowners accounting for 44% of the global orderbook for vessels capable of using sustainable fuels.
ECSA also called for a global regulatory framework through the IMO to avoid overlapping regional and international measures.
The association further urged the EU to introduce supply-side obligations for fuel providers, saying shipping remains the only transport sector without mandates requiring suppliers to make cleaner fuels available.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 889.50 | 18.50 | 1281.00 | 10.50 |
| Rotterdam | 715.00 | 13.00 | 1374.00 | 42.50 |
| Houston | 763.00 | 3.00 | 1419.50 | 4.50 |
| Fujairah | 967.50 | 20.50 | 1694.50 | 21.50 |
| EMEA Average | 885.50 | 1.00 | 1692.50 | 0.50 |
| Global 20 Ports Average | 895.50 | 1.50 | 1548.50 | 6.50 |
| Global 4 Ports Average | 833.50 | 12.50 | 1442.50 | 17.50 |
| Global Average Bunker Price | 959.50 | 13.50 | 1592.50 | 0.00 |
Popular Now More
-
Oct 09A matched package buys a few months, says Vernon Jayanathan; the resentment, the lost trust, and the market quote stay for good. -
Oct 09General License 135 authorises the sale, shipping and import of Russian diesel until April 7, 2027, but EU and UK sanctions are unchanged.