Compliance with the European emission trading scheme has been “smooth sailing”, according to Star Bulk chief strategy officer Charis Plakantonaki, but it has not contributed to the decarbonisation of shipping, and the upcoming FuelEU Maritime initiative will also be ineffective without subsidies for biofuels.
Vessels calling at European ports have been subject to the demands of the region’s Emissions Trading System for half a year now, with owners or delegated companies needing to buy emission allowances tagged to the price of CO2.
