Bridge Markets, Grey Epoch Partner to Provide New EUA Purchase Offering

New EUA Purchase Offering. Image Credit: Bridge Markets

Bridge Markets Ltd and Grey Epoch have partnered to allow both EUAs and forward options for EUAs to be purchased through the Bridge bunkering app.

“We recognise buyers do not necessarily need EUAs now, so via this new offering they can secure them at a low price today and choose when they need them,” Anthony Mollet, Commercial Manager at Bridge Markets Ltd, told Ship & Bunker.

“As such, the Forward options are an excellent tool for cash flow management.

Once users have completed a KYC with Grey Epoch they can use the app to calculate the EUAs they require.

They then receive a live spot price to either buy the EUAs via Grey Epoch, or finance a forward option via Bridge.

The transaction can then be completed ‘in a few clicks’, Mollet added.

The app also shows clear information on the mark to market status of transactions and the entire portfolio.

“We have listened to the market and recognise that many shipping companies have yet to confirm their strategy for European Allowances,” said Mollet.

“There are clearly problems for companies outside the EU trying to set up Registry Accounts in Europe. There are administrative issues preventing the completion of Registry Accounts at a time where owners and charterers are needing to buy their EUAs.

“Bridge provides an immediate solution with Grey Epoch as we can secure purchases on today’s price, with assignment to chosen entities. We offer a clear and easy to use application, putting the buyer in control.”

First showcased during this year’s IE Week, Bridge launched the following April as a bunker industry-specific messaging app with built in tools to define enquiries, agree deals, and confirm stem particulars as part of conversation streams.

The addition of EUA features comes as the company now looks to build additional functionally into its offering.