ETS: Complex, costly and changing

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Could this new carbon tax lead to a transhipment merry-go-round and/or entirely new trading patterns?

Under the EU ETS, ship owners must verify and report emissions data for every vessel of 5,000 gt and above entering EU ports. Shipping companies must purchase EUAs for 10 per cent of emissions from voyages between EU ports or for ships docked at an EU port; or 50 per cent for voyages between an EU and non-EU port.

The rules apply regardless of the ship’s flag, and there are some strange winners and losers in the whole picture.

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