From yesterday,
vessels visiting EU ports will be required to offset their applicable CO2
voyage emissions through the purchase of an equivalent number of EU Allowances
(EUAs).
Clarksons Research has put together a graph
estimating EU ETS costs for certain ship types on the basis of this year’s
average EUA price of $90 per tonne of CO2 and 2022 trading patterns.
The data shows that
for a VLCC heading from RasTanura to Rotterdam EU ETS costs will be around
$200,000 per voyage next year equivalent to 4% of today’s freight cost,
increasing to $0.5m and 10% in 2026 when the regulation is fully phased in at
100%.
The new regulations
were branded as “bullshit†and “a complete waste of effort†by one of Greece’s
largest shipowners, George Procopiou, while speaking at an event in Cyprus in
October.