World News
EU Shipping Decarbonisation Policy Risks Undermining Itself: Danish Shipping
Two key EU measures aimed at cutting shipping's emissions could undermine each other, according to industry body Danish Shipping.
The organisation published a report on Thursday examining what it sees as flaws in the EU's FuelEU Maritime and Emissions Trading System initiatives.
Because FuelEU Maritime takes in all GHG emissions from throughout the fuel value chain, while the ETS deals with only CO2 emissions during combustion, the two regulations 'could interact badly' with each other, the organisation said.
"Both tools will reduce greenhouse gases, but if they are to function optimally and contribute to the most effective reduction, the two bills must be adjusted so that they fit better together," Maria Skipper Schwenn, director of climate, environment and security at Danish Shipping, said in the statement.
The organisation suggests changing the ETS to match FuelEU Maritime in covering GHG emissions from throughout the fuel value chain.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| 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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