World News
Fratelli Cosulich Completes First EUA Deal
Friday December 22, 2023
Global marine fuel supplier and trading firm Fratelli Cosulich has completed its first deal trading European Union Allowances (EUAs) for compliance with the regional bloc's emissions trading system (EU-ETS).
The firm announced its first EUA deal in a LinkedIn post on Friday, having announced in late November that it had set up a trading account to deal in the allowances.
Shipping enters the EU-ETS as of January 1, requiring companies to buy EUAs to cover the emissions generated during their voyages.
The system is being gradually phased in between 2024 and 2026.
The ICE EUA futures contract for January 2024 traded at EUR76.72/mtCO2e on Friday.
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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