Shipowners urged to avoid last-minute EU allowance transfers amid rising ETS compliance risks
Philippos Ioulianou, managing director of EmissionLink, has warned shipowners and operators about escalating financial, commercial, and compliance risks from delaying EU Emission Trading System (ETS) allowance transfers until the September deadline. The growing exposure of shipping under the EU ETS means waiting until the last moment can push funding and compliance decisions to the brink, increasing significant industry exposure.
Ioulianou emphasized that the issue lies not with the deadline itself but the habitual late transfers allowed in many charter-party arrangements, which can leave responsible parties vulnerable to penalties if allowances are delayed or missing. He urged early allocation and transfer agreements between owners and charterers to manage exposure effectively, noting the scheme's phase-in requires 40% coverage of verified emissions for 2024, rising to 70% in 2025 and full coverage by 2026.
Highlighting the need to treat EU allowances as integral to voyage economics and risk management, Ioulianou called for centralizing emissions exposure and transfer tracking for better visibility. This proactive approach, he said, is essential for credible carbon compliance and reducing last-minute scramble risks as EU ETS requirements intensify.
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