How much does decarbonisation cost the shipping industry?
In recent months, the British consultancy firm Drewry has launched a real alarm in this regard of NET-Zero, analyzing in depth the numbers of this process and explaining how many of the major world importers and exporters are not yet fully aware of the full implications that upcoming new environmental regulations will have on the maritime industry in the future.
In addition to the regulatory changes deriving from the entry into force of decarbonisation policies, in fact, there will be enormous technological changes in the design of ships and their propulsion systems. This is all due to the gradual switch to engines running on low or zero carbon fuels; a topic touched upon several times also on the Buonefra blog.
The challenges and costs of the "carbon neutral" sea
The European Trading System will include all the emissions of ships traveling in the ports of the European Union and half of those generated by voyages that start or end in a port of call outside the perimeter of the Union, as well as all the emissions produced by the units during stationing in airports on the continent. It will therefore be the task of the shipping companies to buy and sell the ETS emission quotas for each ton of CO2 produced, with inevitable consequences on the port economy.
According to Drewry, the strict application of "green" regulations will put the shipping industry in the position of having to bear an increase in operating costs in 2024 which will vary from a minimum of 3,5 to a maximum of 14,5 billion dollars, on basis of the type and degree of changes that will be imposed in environmental terms on the European port sector.
As reported by PortNews, according to a cost of certificates (EU Allowances) of 200 euros per ton of CO2 emitted and an application of carbon taxes to 100% of shipments within the European Union, and to 50% of those from and for Europe, the charges deriving from the use of new generation fuels and the introduction of new taxes would amount to 2024 dollars in 237 for each twenty-foot container transported, with an increase of 50 dollars per TEU compared to 2022 .
For those who continue to use LNG, the costs in 2024 could rise to 421 dollars per TEU transported in 2024, of which 354 fuel cost and $66 of fuel carbon tax. A whopping $237 more than last year.
Transparent like the sea
The key word must be transparency: maritime carriers must be clear from now on with their stakeholders regarding the increase in price that the "green deal" of the sea will inevitably bring with it. In fact, more and more shippers are starting to implement sustainability policies and measures within their procurement processes. However, a lack of coherence and visibility in relation to green shipping and their economic impact on the economy of the sea could represent enormous damage for all related industries. Communication and discussion are the two key points that the port industry cannot really do without in a crucial phase of unprecedented transformation for shipping.
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