The European Commission today unveiled its proposal for the revision of the EU Emissions Trading System (EU ETS).

While the proposal includes some positive elements, such as earmarking part of EU ETS revenues for shipping-related purposes, these measures amount to nothing more than the bare minimum required by the sector.

More troublingly, the proposal contains significant shortcomings for European shipping, one of Europe's most strategic industries and a global leader.

Commenting on the proposal, Melina Travlos, President of the Union of Greek Shipowners (UGS), stated:

"Despite the European Commission's evident effort to listen to our industry's concerns, it has, regrettably, failed to fully grasp what it trule takes to sustain a globally competitive European shipping industry. It is inappropriate and counterproductive to grant preferrential treatment to certain segments of shipping, distorting competition across the sectors and creating unfair conditions for the industry as a whole. 

Even more concerning is that Europe has opted not to provide meaningful recognition or adequate incentives for the full spectrum of existing technologies that can improve ships' energy efficiency. At a time when alternative fuels remain neither widely available nor commercially viable across all shipping segments, this approach undermines not only the competitiveness but the very sustainability of European shipping, particularly its largest segment: bulk and tramp shipping."

European Shipowners | ECSA share the same concerns in its relevant statement of today, which you can read here [1].