Under the Red Sea Crisis, the cost of EU ETS has increased nearly threefold, and safety still needs to be prioritized

According to OceanScore's data, due to the Red Sea crisis, a large number of container ships were forced to change lanes and sail around the Cape of Good Hope to Europe, increasing by about 9000 nautical miles. At the same time, the speed increased from 16 knots to 20 knots, and the fuel consumption of sailing through the Cape of Good Hope increased by nearly twice.

According to the EU Emissions Trading (ETS) regulations, voyages entering and exiting the EU are subject to 50% emission liability, while berthing and transit within the EU are subject to 100% emission liability. This also means that the risk exposure of shipping companies has significantly increased, and at the same time, they have paid more costs.

Albrecht Grell, Managing Director of OceanScore, said, "We have observed that the increase in speed has at least partially filled the capacity gap to maintain sailing time and deploy additional capacity at an acceptable level, which has an inevitable impact on fuel consumption and emissions."

Albrecht Grell stated, "The threat to navigation in the Red Sea remains high, and given the uncertain duration of the Red Sea crisis, shipping companies must be prepared and consider higher emission responsibilities in the foreseeable future."

"In summary, the issue of increased EUA and other costs is secondary to ensuring the safety of seafarers and ships, and safety must still be prioritized."