EMEA News
EC Announces New Funding Support with Maritime and Alternative Fuels Included
The European Commission has selected 77 projects to receive €3.4 billion ($3.8 billion) in funding, with maritime and advanced alternative fuels among the areas covered.
The projects span 23 countries in the European Economic Area and fall under five categories, covering large-, medium- and small-scale decarbonisation, clean technology manufacturing and pilot projects, European Commission said in an announcement on Monday.
Maritime projects feature in the medium-scale, small-scale and pilot categories, while advanced alternative fuels are also included in the funding package.
The Commission estimates that the selected projects could avoid around 290 million tonnes of greenhouse gas emissions over their first 10 years of operation.
The funding comes from revenues generated by the EU Emissions Trading System (EU ETS), which was expanded to cover shipping industry form January 1, 2024.
The selected projects will now enter grant agreement preparations, with the results expected in the first quarter of 2027.
The Commission plans to launch its next round of Innovation Fund calls in early December 2026.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 932.50 | 1.50 | 1318.00 | 45.50 |
| Rotterdam | 765.00 | 9.50 | 1436.50 | 33.50 |
| Houston | 785.00 | 4.50 | 1417.50 | 9.00 |
| Fujairah | 979.50 | 6.50 | 1793.50 | 155.50 |
| EMEA Average | 904.00 | 2.50 | 1730.00 | 23.00 |
| Global 20 Ports Average | 920.00 | 8.50 | 1552.00 | 19.50 |
| Global 4 Ports Average | 865.50 | 4.50 | 1491.50 | 61.00 |
| Global Average Bunker Price | 962.00 | 3.50 | 1611.50 | 12.50 |
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