European Union marine fuel rules, effective from January 1 as part of efforts to cut emissions, will raise shipping costs, although firms with vessels that can run on alternative fuels, such as biodiesel and LNG, will benefit, two shipbrokers said.
The policy is the second major EU regulation focused on cutting the shipping industry’s carbon emissions in as many years. Shipping transports over 80 per cent of all traded goods but produces barely three per cent of greenhouse gas emissions.