World News
Bearing AI Launches EU ETS Compliance Tool
Maritime software developer Bearing AI has launched a new tool aiming to help the shipping industry with EU-ETS compliance.
The firm has updated its Fleet Deployment Optimizer solution to add functionality around EU-ETS obligations, it said in an emailed statement on Wednesday.
When uploading a vessel schedule to the platform, the user will be able to see a projection of EUA needs for a single voyage or the vessel's deployment for the rest of the year.
"In our commitment to propel the maritime industry towards a more sustainable and economically viable future, the updated FDO platform stands as a testament to Bearing AI's innovative spirit," Dylan Keil, CEO of Bearing AI, said in the statement.
"Navigating the complexities of EU ETS compliance is no small feat, and with this upgrade, we aim not just to simplify compliance but to empower our clients to make strategic decisions that benefit both their bottom line and the planet."
Shipping has been a part of the EU-ETS since the start of this year, meaning shipping firms will need to buy EUAs to cover the emissions generated on voyages to and from EU ports. The first deadline for surrendering EUAs, for 2024's emissions, will be September 30, 2025.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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