EMEA News
16 Groups Urge EU to Ring-Fence E-Fuel Support Under SMAP
A group of 16 companies, investors and NGOs have urged European lawmakers to ring-fence funding for e-fuels under the proposed Sustainable Maritime Alternative Propulsion (SMAP) mechanism.
In a letter dated October 12, the signatories called on MEPs negotiating the revision of the EU Emissions Trading System (ETS) to prioritise long-term e-fuel use.
The letter estimates that SMAP could provide €15 billion in support between 2028 and 2040, helping scale up e-fuel production to meet future decarbonisation targets.
The signatories have called for a significant portion of SMAP allowances to be ring-fenced for e-fuels, arguing that dedicated support is needed to drive long-term investment in production capacity.
They have also urged EU lawmakers to introduce a book-in-advance mechanism to help shipping companies secure long-term offtake agreements with e-fuel producers and improve project bankability.
The letter said most e-fuel projects remain at the pre-final investment decision stage, making long-term commitments important for securing investment.
The signatories include shipping group DFDS, energy companies Iberdrola, European Energy and Moeve, and environmental organisation Transport & Environment (T&E).
The requested changes are aimed at shaping the proposed SMAP mechanism as negotiations on the EU ETS revision continue.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 917.00 | 10.00 | 1295.00 | 34.00 |
| Rotterdam | 742.00 | 5.50 | 1435.50 | 54.00 |
| Houston | 765.00 | 2.00 | 1408.00 | 12.00 |
| Fujairah | 986.00 | 1.50 | 1725.50 | 38.50 |
| EMEA Average | 895.50 | 1.00 | 1721.00 | 29.50 |
| Global 20 Ports Average | 902.00 | 6.00 | 1547.50 | 29.50 |
| Global 4 Ports Average | 852.50 | 4.00 | 1466.00 | 34.50 |
| Global Average Bunker Price | 950.50 | 2.50 | 1606.00 | 21.00 |
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