INDUSTRY LEADERS COULD SURGE AHEAD AS SMALLER COMPANIES STRUGGLE WITH FUELEU COMPLIANCE WARNS EMISSIONLIN

As the January 2025 implementation of the FuelEU Maritime Regulation approaches, industry leaders are rapidly positioning themselves to thrive under the new rules, while smaller companies risk falling behind, facing steep penalties and potential loss of market share, says Emission Link.

- PHILIPPOS IOULIANOU

This warning comes ahead of the 31st August deadline for shipping companies to prepare and submit their FuelEU Maritime Monitoring Plans.

Emission Link, member of Columbia Group, says there are concerns that while industry leaders are investing in low-carbon technologies, optimising their operations, and ensuring compliance strategies are in place, some companies, particularly smaller operators, are clinging to outdated practices and also face limited resources, lacking the expertise and financial capability to understand the compliance and submit their plans.

"A significant number of shipowners and operators have yet to submit their FuelEU Monitoring Plans, citing complexity of the compliance and the lack of clear guidance and inconsistent support from regulators about the correct steps to take," warned Philippos loulianou, Columbia Group Director of Energy and Renewables.

"Although there is some leeway to do this by the start of next year, we expect there to be a huge rush later in the year, so the earlier companies get their plans submitted and verified, the better."

Columbia Group is an active member of ship management trade association InterManager, and, on behalf of its members, InterManager has taken part in extensive discussion with the EU in relation to FuelEU and EU-ETS.