Fuel and EU climate surcharge

Shipping plays a key role in the movement of global goods and is one of the most energy-efficient forms of transport, but it also causes significant greenhouse gas emissions. In 2018, the share of global shipping in global emissions caused by human activity was about 3%, and at the EU level, the share of maritime transport in total EU carbon dioxide emissions is 3–4%. The EU is including shipping in the Emissions Trading System with the aim of reducing greenhouse gas emissions from transport. The evolution of cost thinking encourages the shipping industry to increase investments in new technology and switch to new fuels in order to reduce environmental impacts.

Shipping will gradually join the Emissions Trading System from 2024, and the industry must be fully integrated into the system by 2026. This means that shipping companies must cover progressively larger shares of their greenhouse gas emissions, comprising 100% of emissions from 2026. The practical effect of emissions trading is that shipping companies must buy emission allowances at the same time as they invest in alternative fuels and new technologies. Consequently, the Emissions Trading System has a significant impact on the cost base of the industry, and the increased costs are being partly borne by customers.

Shipping remains one of the most energy-efficient means of transport, but despite this, the shipping industry needs to take additional measures to become a fully sustainable sector. Viking Line understands the importance of combating climate change and wants to be a pioneer in reducing climate emissions and local environmental impacts. For more information about the EU Emissions Trading System, go to Reducing emissions from the shipping sector (europa.eu).