13 July 2023 (Lloyd's List) - Shipping emissions from voyages that included a European Union port on at least one leg reached 128.6m tonnes CO2 in 2022, up from 126.3m tonnes a year earlier, according to EU MRV data that includes vessels 5,000 gt.

That was the highest in three years, excluding UK voyages for the period 2018-2020, analysis by environmental group Transport & Environment shows. But emissions were significantly lower from 133.7m tonnes CO2 in 2019, according to T&E data.

Total fuel consumption on voyages that included a European port reached 41.4m tonnes in 2022, compared with 40.6m tonnes in 2021, EU MRV data shows. 

“Europe’s shipping giants are up there with coal plants and airlines as the continent’s biggest polluters. But, while everyone has heard of Ryanair, the average person doesn’t even know who MSC is. Without stricter regulations, shipping companies will continue to spurn investments in efficiency and green fuels. The industry is quickly moving to a point of no return,” said Jacob Armstrong, shipping manager at T&E.

Stricter EU shipping regulations could reduce emissions in the coming years, as shipping is set to be included in the bloc’s Emissions Trading System from 2024.

It will require companies to buy EU ETS allowances for 100% of emissions for voyages within the EU and the European Economic Area and 50% of emissions for voyages into or out of EU/EEA.

There will be a three-year phase-in period where companies will buy allowances for 40% of emissions in 2024, then gradually increasing to 75% in 2025 and 100% in 2026.

EU ETS prices closed at €86 per tonne on July 12, according to data from Ice Exchange.