Divisions over EU plan to transform shipping
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The EU Emissions Trading System and what it means for shipping, why shipowners are divided over the merits, and what comes next
LONG looming on shipping’s regulatory horizon, the European Union last week unveiled sweeping environmental proposals to shape the decarbonisation of shipping.
The plans would include shipping in the bloc’s Emissions Trading System, while the FuelEU Maritime proposal would require owners to buy cleaner fuels and ports to ramp up shore power and support for liquefied natural gas fuel. Read our definitive analysis here.
While few have yet made it through the hundreds of pages of technical detail, shipping groups were swiftly divided over the measures.
Maersk and other northern European shipping giants welcomed the EU’s ambition. However, other groups such as the International Chamber of Shipping dismissed the package as a “pure money grab”.
Greek shipowners were mostly scathing, although they welcomed the last-minute recognition that some of the burden should fall on charterers.
Sustainability editor Anastassios Adamopoulos writes that the scope and ambition of the package means the EU will make itself the leading authority on imposing emission rules unless the International Maritime Organization takes drastically faster and more decisive action soon.
The Lloyd’s List View: Regional unilateralism is never the best approach for regulation. But if this battle has to start in Europe, so be it.
Tankers editor Michelle Wiese Bockmann’s latest investigation delves into Greek shipowners carrying Venezuelan crude turning to Cyprus as a sanctions workaround.
But North America editor Eric Watkins writes that since Cyprus has no obligation to enforce US sanctions, what happens to the owners next will come down to political pressure from Washington — or lack thereof.
Listen out: On the podcast, we look at why the compliance target on shipping’s back is not going to disappear even if the Iran nuclear deal talks lead to a lifting of sanctions — in fact, it could get even harder.
Plus: The five factors shaping the future of shipping innovation.
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