The shipping sector is expected to be included into the European Union’s Emissions Trading system on January 1, 2024.
However, preparations in the member states and negotiations for last-minute changes continue.
According to the decision approved last April, ships sailing in Europe pay an amount covering 40% of greenhouse gas (GHG) emissions in 2024, rising to 70% in 2025 and 100 % in 2026.
The EU ETS applies to cargo and passenger ships over 5,000 gt as of 2024 and offshore ships over 5,000 gt as of 2027.
It will initially cover CO2 emissions and from 2026 onwards it will include methane and nitrogen oxide emissions. It will also cover all emissions on journeys and ports within the European Union and the European Economic Area and 50% of emissions on journeys to or from Europe to third countries.
This provision, however, among other things, reduces the competitiveness of European ports, compared to the ports of neighboring countries outside the EU, which are not subject to the regulations.
According to sources, seven EU states, including Greece, Italy and Spain, request the review of specific provisions of the regulation, which have to do with the competitiveness of European ports, compared to their neighbors outside the EU where the shipping sector is not forced to abide by these regulations.
Therefore, the term “shipping company” is being re-examined in view of the entry into force of the procedure.
