World News
ZeroNorth Teams Up With Vitol for EUA Procurement
Maritime software firm ZeroNorth is set to work with global commodities company Vitol on the purchase of European Union Allowances for compliance with the EU's emissions trading system.
Shipping firms will be able to buy EUAs from Vitol's carbon desk through the ZeroNorth platform, the software company said in a statement on its website on Thursday.
The EU-ETS came into force for shipping at the start of next year, requiring companies operating at European ports to buy EUAs to cover emissions generated on their voyages. The first deadline for surrendering EUAs, for 2024's emissions, will be September 30, 2025.
"We are proud to partner with Vitol on this new functionality for the ZeroNorth platform, which we believe will considerably smooth the process of enabling customers to work with Vitol to purchase their EUAs for ETS compliance," Søren Meyer, CEO of ZeroNorth, said in the statement.
"EU ETS is transformative in terms of its mandate to reduce emissions from shipping.
"We understand that for some customers – and particularly those that lack the scale or processes to navigate the regulation – solutions are needed to help smooth their emissions reductions pathway.
"That's why we have chosen to work with Vitol's Carbon Desk, a leader in this space, and make it easier for customers of all sizes to seek to purchase the EUAs they need to have a positive impact on shipping."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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