EU ETS (Emissions Trading System) effective 01/01/2024

EU ETS (Emissions Trading System) effective 01/01/2024
As an integral part of the EU´s 2030 climate target of a 55% emission reduction (“Fit for 55”), the EU commission has ratified the EU Emissions Trading System – EU ETS – to be implemented for the shipping industry effective 1st January 2024. This involves a three-year phase-in period, with the cap increasing from 40% of emissions in 2024 to 70% in 2025 and 100% in 2026, and for each year afterward.

In terms of geographical scope, the ETS for shipping includes 100% of emissions on voyages and during port calls within the EU/EEA (European Economic Area), and 50% of emissions on voyages into or out of the EU/EEA.

To adhere with the EU ETS, Grimaldi Deep Sea will have to purchase emission permits, known as ‘EU allowances’ (EUAs) in the market corresponding to its emissions and as a consequence, Grimaldi Deep Sea has decided to implement an EU ETS surcharge to comply with this new regulation. As from 1st January 2024, the following surcharge will be introduced on all voyages bound to / from Europe and for all cargo types ;

ETS Surcharges

North Europe / Scandinavia / UK / Ireland to / from Africa (Southbound and Northbound)

The ETS surcharges specified above will be in effect from January 1 to March 31, 2024, with a re-evaluation for the second quarter scheduled for March.
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Charges are applicable on all Grimaldi trades and should be clarified before engaging in any bookings or quote offers to your shippers.

If you have any questions, please contact your local Grimaldi commercial office.