European shipping represents a geopolitical asset for Europe, facilitating the export and import of goods, food and energy. While the EU represents around 15% of the global GDP, the European shipping fleet is one of the largest in the world, representing around 34.5% of the world fleet in terms of global tonnage across all segments.
Ahead of the publication of the new EU ETS proposal on Friday, European Shipowners | ECSA set out the conditions to ensure the competitiveness of European shipping and to deliver on the energy transition on the sector.

• IMO review clause. The Commission should clearly state that EU legislation will be reviewed and then withdrawn once a global agreement is adopted at the IMO — avoiding double regulation and double payments.
• Earmark ETS revenues to invest in clean tech and fuels. Shipping generates EUR 9 billion a year in national and EU revenues. The ETS revision should require Member States to use this money to bridge the price gap and support sustainable fuel availability and clean tech projects.
• Meaningful support for sustainable fuels. ETS revenues should cover as much as possible the enormous price gap with sustainable fuels – they are on average four times more expensive. The current level of support for aviation should be the starting point.
• Broad support for clean tech projects. The Commission proposal on the Industrial Accelerator Act indicates net-zero technologies that improve energy efficiency and deliver immediate emission savings. All clean technologies and energy efficiency projects should be supported.
• Safeguard the level playing field. Any proposal to support the competitiveness of EU ports must ensure the integrity of the system and must maintain the level playing field among all segments of shipping.
• Make derogations automatic, mandatory and fit for purpose.Derogations for islands, outermost regions and ice-classed vessels should be extended and made automatic, mandatory and fit for purpose.
• Simplify reporting requirements. Ensuring the alignment of EU ETS and FuelEU Maritime reporting obligations is crucial to avoid unnecessary burdens.