The Cyprus Shipping Chamber, welcomes the European Commission’s resolute commitment to address the barriers to the deployment of alternative low- and zero-emissions fuels (including e-fuels and advanced biofuels) in maritime and givepriority access to these fuels to the maritime sector over sectors that have access to other decarbonisation solutions. This commitment was included in the Commission’s proposal for 2040 climate target published on 6 February 2024, thus recognising that this will enable the Shipping sector to contribute to the EU’s climate objectives and to the global climate agenda.

The Chamber firmly believes that prioritising the maritime sector’s access to low- and zero-emission fuels not only accelerates the pace of decarbonisation in Shipping but also ensures the industry’s competitiveness and sustainability in the long term. By fostering an environment conducive to innovation and investment in green technologies, the EU Commission paves the way for a greener, more resilient maritime sector and a sustainable future for Europe in general.

In addition, the Chamber notes with satisfaction the Commission’s supportive consideration to the IMO Strategy on reduction of GHG emissions in forming differentiated targets for Shipping aligned with IMO’s Strategy, as well as the need for significant investments required in the energy system to replace fossil fuels with renewable and low-carbon fuels necessary to power the shipping sector.