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Around 13,000 vessels have reported 2024 data to the EU MRV platform in compliance with the MRV guidelines, according to Drewry.
CO2 emitted by these vessels in 2024 must be paid for by surrendering 40% EU Allowances (EUAs) for each ton of CO2. The first due date for the shipping industry to pay its dues is Sept. 30.
Since January 2024, the EU's Emissions Trading System (EU ETS) has been extended to cover CO2 emissions from all large ships of 5,000 gross tonnage and above entering EU ports, regardless of the flag they fly. For emissions in each calendar year (January-December), ETS operators must carry out monitoring procedures and prepare an emissions report. Operators must have their report verified by an accredited verifier and submit it to the competent authority by March 31 of the following year. Then, by Sept. 30 of that year, operators must surrender EUAs. Under the EU ETS, 100% of emissions are covered for voyages between two EU ports or while within EU ports, and 50% of emissions are covered for voyages starting or ending in an EU port, with voyages outside the EU only affecting the 50% calculation if the destination of origin is a non-EU port. The EU ETS is being phased in for the maritime sector with a gradual increase in the percentage of emissions covered. The percentages 40%, 70% and 100% refer to the proportion of a ship's emissions that are subject to the EU ETS rules in the years 2024, 2025 and 2026 respectively,
Around 90 million tons of CO2 was emitted within the scope of the EU ETS, an increase of around 14% compared to the previous year, according to the EU MRV data. This increase is partly due to geopolitical factors, which caused vessels to take longer routes via the Cape of Good Hope instead of shorter routes via the Suez Canal. Despite accounting for 16% of the vessels (21% in terms of deadweight-tonnage capacity), the container sector emitted an aggregate of around 34% of the CO2 emissions.
