- zero44, a digital CO2 management solutions provider, has introduced the innovative “FuelEU Maritime Calculator” to assist shipping companies in comprehending the financial implications of the forthcoming FuelEU Maritime legislation.
- This application aims to simplify and expedite the process of understanding the associated expenses for shipping firms.
FuelEU Maritime, slated to be enforced in January 2025, seeks to reduce the annual average greenhouse gas (GHG) intensity of vessels and promote the widespread adoption of sustainable marine fuels. The legislation mandates a GHG intensity limit of two percent less than the 2020 reference, with escalating intensity targets every five years and an ultimate goal of an 80 percent reduction in GHG intensity by 2050.
Features and Functionality of the Calculator
The FuelEU Maritime Calculator, developed by zero44, generates estimates to provide a foundational understanding of the financial implications of FuelEU maritime compliance. Users input their ships’ annual fuel usage, categorized by fuel type and exposure to EU regulations, and the tool calculates GHG intensity and associated penalties.
Comparison with EU ETS
FuelEU Maritime differs from the EU ETS in its scope, as it considers emissions throughout a fuel’s lifecycle, from extraction to burning, whereas the EU ETS only measures emissions from tank to wake. This broader perspective necessitates a thorough understanding of the legislation’s impact on maritime operations.
Limitations and Future Developments
While the calculator offers valuable insights, it has limitations, as it does not account for specific factors such as engine specifications or biodiesel type. Currently, the tool is tailored to conventional fuels and biodiesel and serves as an initial assessment tool rather than a definitive decision-making aid. However, zero44 is actively developing a software system that integrates voyage data to forecast and track GHG intensity under various conditions.
Founder’s Perspective
Friederike Hesse, co-founder and managing director of zero44, emphasizes the importance of businesses being informed about the expected expenses associated with FuelEU Maritime compliance. The FuelEU Maritime Calculator aims to demystify complex concepts and encourage deeper engagement with the subject matter among businesses.
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Source: Marine Insight
