Navigating the EU ETS

This year, the maritime industry faces transformative regulations with the implementation of the European Union’s Emission Trading System (EU ETS). This initiative represents a pivotal shift in how we address carbon emissions across our operations. At Seatrans Chemical Tankers, we have been proactively preparing for these changes, focusing on transparency, digitalisation, and a commitment to ensure our customers face correct costs related to their emissions.

Understanding the EU ETS: A cap-and-trade system

The EU ETS is built on a “cap and trade” principle, aiming to provide a financial incentive for the reduction of greenhouse gas (GHG) emissions. The ultimate goal is ambitious yet critical: achieving zero emissions by 2050. In 2024, vessels over 5000 GT operating to/from and within the EU/EEA area will need to secure allowances for the CO2 emitted. This regulation has a phase-in period, starting at 40% in 2024 and reaching 100% by 2026.

Our approach

At Seatrans Chemical Tankers, we have extensively prepared for the EU ETS, prioritising environmental responsibility. Our approach to managing the costs of the EU allowance cost is designed to be fair, directly correlating with the cargo shipped.

Our commitment to digitalisation ensures accurate CO2 emissions tracking, reinforcing our dedication to transparency. Utilising precise data enables us to streamline operations, enhance efficiency, and ultimately achieve lower emissions and greater sustainability.

Towards a greener future

Despite its financial implications, we perceive the EU ETS as a valuable catalyst for advancing zero-emission technologies within our industry. Our strategy extends beyond compliance, aiming to spearhead sustainable shipping practices.

Our efforts in preparation, transparency, and commitment to fair pricing set a responsible course in navigating these new regulatory waters. As we voyage towards the 2050 goal of zero emissions, it’s clear that a collaborative effort, innovative solutions, and a steadfast commitment to our planet’s future are essential.

For questions about ETS, please contact EU ETS Compliance Manager for Seatrans Chemical Tankers, Heidi Moldeklev at emissions@seatrans.no