European shipowners call for funding to convert to net-zero vessels

Sustainability and decarbonisation

Transport and Environment (T&E) has joined Dutch and Swedish shipowners to express support for the EU Commission’s legislative package for decarbonising the shipping sector and to request dedicated funds for net-zero vessels.

The participants have asked the Commission to ensure revenues are geared towards maritime decarbonisation and have argued that a dedicated financial support is needed for the maritime sector to develop and operate zero-emission vessels.

Therefore, they have asked the Parliament and Council to adopt a shipping dedicated financial mechanism to support R&D as well as the deployment of clean fuels through Carbon Contracts for Difference (CCfDs) to ultimately ensure enough business and investor confidence to guarantee shipping’s green transition.

The participants have finally suggested to reconsider the gross tonnage (GT) threshold and the inclusion of other ship types.

T&E has suggested that the current GT parameter to establish exemptions is not ideal and that a ship’s carbon emissions should decide its payment.

Furthermore, ships and maritime activities that are currently not under the scope of EU MRV should be introduced at a later stage after a phase in period to establish an appropriate EU MRV for these specific maritime activities.

Decarbonisation and sustainability across the maritime sector are becoming key objectives to several shipping companies.

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