New Surcharges as of January 2024
From January 1, 2024, a CO2 tax on maritime freight will come into effect in the European Union, as part of efforts to achieve climate goals. Shipping companies will apply an ETS surcharge from this date.
The aim of the European Emissions Trading System (ETS) is to control and reduce greenhouse gas emissions in industrial sectors in the European Union. From 2024, this will also apply to shipping.
The ETS sets an emissions ceiling for the emissions of companies in specific sectors. Companies must surrender an emission allowance for every ton of CO2 emitted. Companies have a choice: pay for the right to emit CO2 or invest in cleaner shipping to reduce emissions. This creates an incentive for companies to invest in sustainability, making it increasingly attractive to embrace more environmentally friendly practices.
Read more information from the European Commission here.
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