On January 1st 2024, every ship over 5,000 GRT sailing within the European Union, sailing into the European Union or sailing out from the European Union will be required to pay an Emissions Allowance for every tonne of CO2 burned. Sounds simple enough. But to what extent are ship owners, operators and charterers aware of the new legislation or prepared for it?

Ships have been required to complete MRV (Monitoring, Reporting and Verification) for some years now; it is about to get expensive. With EUAs trading around the €90 per ticket level, the additional bill is significant, for some fleets, eye-watering.

The MFA is here to help. We have conducted extensive research in order to support our members. We are delighted to announce a new Partnership with Grey Epoch, a leading Environmental Markets trader who can provide bespoke solutions for spot trading or more detailed proposals for long-term Emissions Allowance procurement.

Another new legal requirement in the green landscape for those sailing in the deep blue sea. Talk to the MFA and connect with our professional partners for immediate help. EUAs look like they are to stay!

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