ITIC suggests EU ETS will cost the shipping industry billions

by The Manila Times

Dec 13, 2023 12:02 am

THE International Transport Intermediaries Club (ITIC) has forecasted that the cost of the European Union's new Emissions Trading Scheme (ETS) to the shipping industry could be in the billions.

The extended EU ETS, which comes into force on Jan. 1, 2024, will set an annual absolute limit on emissions of greenhouse gases (GHG) for vessels of 5,000 gt and above calling at EU ports.

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