THe EU Parliament has decreed that from 2024 onwards shipping companies will be part of the Emission Trading System, ETS.

The system is part of the “fit for 55” which aims to tackle climate change by reducing the greenhouse gas (GHG) emissions by at least 55% by 2030 (compared to 1990 levels) with the long-term goal of zero emissions by 2050.

Under the scheme the companies will have to pay for annual allowances for GHG emissions. The ETS covers all emissions on voyages between EU ports and 50% of emissions on voyages between an EU port and a non-EU port.

There will be a cost to comply with the ETS Requirements and we will pass on those costs in the form of a surcharge.  

We will file our surcharge effective January  1st and it will be applicable to all cargo.

The surcharge will be filed in our tariff and posted in Surcharges & Accessorials.