EU Emissions Trading System (ETS) Update - December 2023

The purpose of this customer advisory is to update you on how EU ETS will be implemented, calculated, and applied, and what this means for you - our customers - as we get closer to January 1st, 2024, implementation date.

As promised in our earlier October EU ETS update advisory, we now have more detailed customer information available and an updated estimate for the likely increase to operating costs that will be covered through our manifest surcharge called ETS.

Additional Customer Information

A detailed ETS FAQ for customers can be found here with answers to many of the questions we have received about this topic, meanwhile we have also published a detailed surcharge explainer here.

It is important to bear in mind that the surcharge will fluctuate depending on the volatility of carbon allowances traded into the system and we will be applying the same principles followed by the Bunker Recovery Charge (BRC) for it. We believe it is important to be fully transparent about the additional costs related to decarbonization to ensure their impact can be properly managed throughout the supply chain.

Updated ETS Surcharge Table

The table of our current estimated ETS surcharge prices per trade to apply from January 1st, 2024, can be found below.

Please note these surcharges will be subject to change and we will ensure you remain updated on further developments concerning the implementation of EU ETS and its impact on our services.