The maritime shipping industry will be included in the EU ETS starting from 2024 and will be phased in during the first three years (40% of ship emissions in 2024, 70% in 2025 and 100% in 2026). Once fully phased in methane and nitrous oxide emissions will be included in the scheme as well. From 2027 offshore service vessels will be added to the scheme. It will be a game changer as this will be the first form of emissions pricing for the sector and creates an incentive for the industry to improve emissions within the fleet.

The UK will most likely follow suit and include the maritime sector into their own national scheme in a similar manner. Meanwhile, the IMO is currently considering various systems of carbon pricing, with an emission trading scheme, feebate and a flat rate being a selection of the proposed solutions.  These new rules will undoubtedly impact the maritime sector and underline the importance of developing a risk management strategy in order to absorb these new costs.

We have also seen an increase in carbon offsetting initiatives within maritime transportation.  Whether it be ‘carbon neutral cargoes’ or addressing their Scope 1,2 & 3 emissions, an increasing number of owners and charterers are focused on their environmental impact. In line with the marine connection, we are seeing considerable interest in blue carbon projects (eg Mangrove and seaweed) in addition to the more common land-based carbon mitigation projects.


Numerous shipping companies we have spoken to are contemplating ways to handle the cost of emissions in their business, as they look for ways to reduce existing and future carbon costs. We encourage you to take proactive measures to mitigate these risks and to prepare for a future with carbon restrictions.

Redshaw Advisors offers a range of readily available solutions and personalized consultancy services to shipping companies, supported by our research team’s unbiased carbon market research.

Research and Advisory services

– Training programmes

– Bespoke Consultancy

– Risk Management advice

Procurement services

– Compliance markets: EU ETS and UK ETS

– Voluntary carbon markets

– Renewable energy certificates

Get in touch with us

To discuss your requirements please get in touch
with the Redshaw Advisors team on
+44 203 637 1055 or submit an enquiry.

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Shipping Advisor