Recently two leading shipping lines have informed in detail the expected surcharges which shippers will face next when the shipping industry adjusts to suit the European Union's Emissions Trading System (EU ETS). Maersk warns that these costs will be huge.
Starting from 1st January 2024, shipping lines will be authorized to monitor and report their emissions during voyages within the European Economic Area and 50% of voyages that begin or end Termination at European ports.
Maersk believes that compliance costs are expected to be significant and will continue to increase with phased implementation. This cost will be passed on to customers as a separate surcharge called the 'Emissions Surcharge', and will apply to all ships within the EU-ETS scope.
Hapag-Lloyd also informed that ETS will result in additional costs that will be applied as a separate surcharge and that customers should be prepared for costs in the coming year.