Maersk plans to pass on its increased emission regulation costs from next year. File Image / Pixabay
Container shipping firm AP Moller-Maersk has set out the surcharges it will pass on to customers to cover the cost of the European Union's inclusion of shipping in its emissions trading system from next year.
The EU plans to start charging the shipping industry within Europe for its emissions from next year, and for half of its emissions for voyages between EU and non-EU ports. The system will be phased in gradually, with just 20% of the full cost being charged in 2023, moving up to 100% from 2026 onwards.
"The cost of compliance with the ETS will likely be significant therefore impacting the cost of shipping," Maersk said in a note to customers on its website this week.
"It is expected that the volatility of the European Union Allowance (EUA) traded in ETS may increase, as the revised legislation comes into effect.
"To ensure transparency, we plan to apply these costs as a standalone surcharge effective Q1 2023."
The company currently envisages the following surcharges:
Image Credit: AP Moller-Maersk
The costs are based on an EUA price of about EUR 90.