Warning for Singapore vessels on EU ETS

Singapore-registered vessels will be required to contribute a significant €330 million share of Asian shipping's total emissions liabilities under the EU Emissions Trading System (ETS), underlining the importance of the Lion City as a key maritime hub for both global trade and decarbonisation, according to OceanScore. The technology firm's modelling analysis shows that 5.5 million EU Allowances (EUAs), or carbon credits, will have to be surrendered for some 1,120 liable vessels registered in Singapore once the EU ETS is fully implemented in 2026.