Maritime data start-up OceanScore has developed a new web-based ETS Manager to assist ship operators to both manage emissions liabilities and trade carbon allowances under the impending EU ETS (Emissions Trading System).
The system automatically ingests vessel operational data, assessing the need for EU Allowances (EUAs), allocating them to owners or stakeholders, requesting and accounting for them, and tracking open positions. The application also incorporates the EUA Trader tool from RWE Supply & Trading, to buy and sell EUAs.
The ETS Manager can be integrated with verifiers and data quality service providers like DNV’s Emissions Connect, Seacotec, Swiss Climate and Verifavia, so that for joint customers the data in the ETS Manager corresponds to the final, verified annual data that are the basis for surrendering EUAs to the respective authorities, as well as allowing for an API-based data flow.
“The industry faces a major challenge to navigate the complexity of the new regulation and mitigate financial risk due to the requirement to purchase carbon credits to cover the cost of emissions, which will reach €8 billion or more annually,” said Albrecht Grell, co-Managing Director of Hamburg-based OceanScore.
“The interplay between owners, managers and charterers creates significant complexities unique to shipping and poses potentially significant risks, especially for ship managers, if not managed properly. Excel alone will not be sufficient to maintain transparency and control of these processes.”
OceanScore’s EUA Trader is also available as a standalone application, while users can additionally outsource management of their EUA accounts to their respective registries, with the software able to monitor account movements through various APIs in ETS Manager.
