From an energy perspective, maritime transport is one of the most efficient. It is estimated that, at European level, maritime transport accounts for around 3% of total CO2 emissions.

Under the EU's "Fit for 55" plan, the objective is to reduce greenhouse gas emissions by 55% below 1990 levels by 2030 and to make progress in decarbonising the maritime sector. The Emissions Trading System (ETS) is the cornerstone of the EU's climate change policy and the key tool for cost-effectively reducing greenhouse gas emissions.

For this reason, the European Union has adopted the EU ETS (Emissions Trading System) directive to the maritime sector as of January 1, 2024.

Effect of the rule on shipping companies and FRS routes

The implementation of this directive translates into new rules imposed on shipping companies operating in European ports and entails the payment of greenhouse gas emission allowances, also called EU Allowances (EUAs), proportional to the amount of CO2 emitted by each vessel.

 

What is the scope of the ETS?

The regulation applies to vessels over 5000 GT (gross tonnage).

100% of CO2 emissions will be paid on routes between EU ports and 50% on routes between European ports and third countries.

 

How are FRS lines affected?

On our FRS routes, the Algeciras/Ceuta route will be 100% affected, while the Algeciras/Tanger Med route will be affected by 50% of emissions. The Tarifa/Tangier Ville route will not be affected in principle due to the current type of vessels in service (less than 5,000GT).

 

How will this measure be implemented?

The implementation of this measure will be gradual. In other words, by 2024, 40% of the reported emissions will need to be covered by the respective allowances (EUAs). In 2025, 70% of CO2 emissions will be covered by EUAs and, finally, 100% of emissions will be covered in 2026.

Effect of the policy on FRS clients

The costs of compliance with the EU ETS are significant and will affect our operating costs. 

Therefore, from 1 January 2024, a service surcharge proportional to the acquisition cost of the EUA will be introduced.

This service charge shall be updated monthly by taking the monthly average (previous month from 20 to 20??) of the price per tonne of emissions.

You can follow the cost of CO2 emissions in the market  here 

In the coming days we will publish the surcharge applied to both passenger and freight units.