Big Emissions Bills Are Coming for Ships Sailing in Europe
- Shipping will join EU’s Emissions Trading System in January
- Some firms face hundreds of millions of dollars of costs
Vessels carry more than 80% of world trade and are a big source of emissions.
Photographer: Krisztian Bocsi/BloombergShips carrying everything from consumer goods to food and fuel in and out of the European Union will soon face hefty emissions bills.
The maritime industry will join the bloc’s Emissions Trading System in January, meaning big ships will start paying for carbon emissions. Some major freight firms — such as MSC Mediterranean Shipping Company SA and A.P. Moller-Maersk A/S — could see costs run into hundreds of millions of dollars, according to BloombergNEF.