The price of EU Allowances (EUAs) used for compliance with the European Union’s emissions trading system has dropped significantly at the start of 2024, according to Ship & Bunker.
Future contract
The January ICE EUA futures contract traded at €59.83/mt CO2e as of 8:15 AM in London on Monday.
Shipping joined the EU-ETS at the start of 2024, meaning all ships larger than 5,000 GT will need to purchase EUAs to cover the emissions for their voyages between EU ports.
The system is being phased in gradually, meaning ship owners pay 40% of the costs for 2024, 70% for 2025 and 100% from 2026 onwards.
The first deadline for EUAs to be surrendered for 2024’s voyages is September 30, 2025.
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Source : En.portnews
