CircularsNews
March 2014

Mauro Consultants South

The European Union’s Emissions Trading System (EU ETS) was extended to cover emissions from shipping as of 1st January 2024.

The EU ETS is limited by a 'cap' on the number of emission allowances. Within the cap, companies receive or buy emission allowances, which they can trade as needed. The cap decreases every year, ensuring that total emissions fall.

Each allowance gives the holder the right to emit:

  • One tonne of carbon dioxide (CO2), or;
  • The equivalent amount of other powerful greenhouse gases, nitrous oxide (N2O) and perfluorocarbons (PFCs).
  • The price of one ton of CO2 allowance under the EU ETS has fluctuated between EUR 60 and almost EUR 100 in the past two years. The total cost of emissions will vary based on the cost of the allowance at the time of purchase, the vessel’s emissions profile and the total volume of voyages performed within the EU ETS area. The below is for illustration purposes:
  • ~A 30.000 GT passenger ship has total emissions of 20.000 tonnes in a reporting year, of which 9.000 are within the EU, 7.000 at berth within the EU and 4.000 are between the EU and an outside port. The average price of the allowance is EUR 75 per tonne. The total cost would be as follows:
  • ~~9.000 * EUR 75 = EUR 675.000
  • ~~7.000 * EUR 75 = EUR 525.000
  • ~~4.000 * EUR 75 * 50% = EUR 150.000
  • ~~Total = EUR 1.350.000 (of which 40% is payable in 2024)
  • For 2024, a 60% rebate is admitted to the vessels involved. However, this is reduced to 30% in 2025, before payment is due for 100% with effect from 2026.
  • Emissions reporting is done for each individual ship, where the ship submits their data to a verifier (such as a class society) which in turns allows the shipowner to issue a verified company emissions report. This report is then submitted to the administering authority, and it is this data that informs what emission allowances need to be surrendered to the authority.
  • The sanctions for non- compliance are severe, and in the case of a ship that has failed to comply with the monitoring and reporting obligations for two or more consecutive reporting periods, and where other enforcement measures have failed to ensure compliance, the competent authority of an EEA port of entry may issue an expulsion order. Where such a ship flies the flag of an EEA country and enters or is found in one of its ports, the country concerned will, after giving the opportunity to the company concerned to submit its observations, detain the ship until the company fulfils its monitoring and reporting obligations.
  • Per the EU’s Implementing Regulation, it is the Shipowner who remains ultimately responsible for complying with the EU ETS system.

There are a number of great resources on the regulatory and practical aspects of the system – none better than the EU’s own:

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02003L0087-20230605

https://climate.ec.europa.eu/eu-action/transport/reducing-emissions-shipping-sector_en

https://climate.ec.europa.eu/eu-action/eu-emissions-trading-system-eu-ets/what-eu-ets_en

Degerli Ilgili;

Birçok kulubün Italya’da yerel temsilciligini yapan Mauro Consultants firmasinin Sicilya’da yeni açilan ofis detaylarini içeren sirküleri asagida bilgilerinize sunulmustur.

MAURO CONSULTANTS SOUTH

We are very pleased to launch “Mauro Consultants South”, a new structure devoted to cover particularly problematic areas such as Sicily and Sardinia.

Please find herebelow the details pertaining to the Sicilian ports in which you can apply to us even in the two major Italian islands, in the event you are interested in this MC P&I facility.

Our head office in Sicily is located in Palermo but, needless to say, we can assist in any Sicilian port such as, besides Palermo, Messina, Trapani, Porto Empedocle, Pozzallo, Siracusa, Augusta, Catania, etc.

Mauro Consultants South organization will cover also Reggio Calabria and Gioia Tauro, even though they are not Sicilian ports, but very close to Sicily and its people (also to their mentality).

As regards Sardinia we established relevant head office in Cagliari, but we can assist in any Sardinian port.

Here are the contact details:

SICILY

PALERMO (Head Office)

Mauro Consultants Ltd

c/o

FD Consulting  - Via Antonio De Stefano 18 - 90146 Palermo (Italy)

Telephone nos (incl. area codes):

+39 0544 59 92 23                 +39 0544 42 22 88

E-mail:

info@mauc.it

EMERGENCY PHONE:

Mobile

Mr. Maurizio Mauro

(+39) 348 56 006 88

Capt. Francesco D’Emanuele

(+39) 389 20 104 39

Mrs. Loredana Innocenti

(+39) 338 29 99 835

For all the other ports covered, i.e. MESSINA, TRAPANI, PORTO EMPEDOCLE, POZZALLO, SIRACUSA, AUGUSTA, CATANIA, REGGIO CALABRIA and GIOIA TAURO reference shall be made to our head office in Palermo.

As regards SARDINIA, you will be receiving relevant contact details soon.

MAURO Consultants
At Italian Ports
Via Trieste, 90/a
48122 Ravenna – Italy
Tel.:+39 0544 42 22 88 – 59 92 23
Fax: +39 0544 59 74 39
Mob.: +39 348 56 006 88 – 338 29 99 835
Email:
info@mauc.itmm@mauc.it

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