EMEA News
CMA CGM Follows Suit on EU ETS Surcharges
Box shipping firm CMA CGM has published surcharges related to the European Union's emissions trading system.
ETS works by putting carbon allowances against a ship's reported carbon emissions. Emissions released on European shipping routes are to be countered 100% by allowances whereas for ships on ocean-going routes, it is 50%
"EU ETS added costs will induce a surcharge applicable for all container loaded on CMA CGM services impacted by the regulation," the company stated.
Assuming a carbon allowance price of EUR 90 per metric tonne of carbon dioxide, the surcharge from Europe to North America will be EUR 25 per twenty foot equivalent unit.
The imposition of surcharges for the EU ETS follows similar moves by other carriers.
CMA CGM has also joined two other companies in investing in the production of fully electric vans. Along with Renault and Volvo (which have a half-share in the new company), the French shipping company has signed a non-binding agreement to invest EUR 120 milion ($127m) in the project, according to a statement posted on its website.
