Maritime software provider Coach Solutions, a Kongsberg Digital company, has launched a new reporting tool designed to help owners and operators manage fleets trading under the EU Emissions Trading System (EU ETS).
The software can be used to advise stakeholders on carbon emissions related to specific vessels and time periods, to support ETS credit accounting between charterers, owners, and operators. Carbon credits are calculated based on the emission factors associated with different fuel types, as well as the geographical locations of loading and discharge ports and the reference year.
The direct taxation of carbon emissions from ships in European waters becomes a reality for the maritime industry from January 2024, with allowances already available to buy on the free market.
For vessels not operated by the owner – which is the case for large parts of the bulker and tanker industry – the owner may transfer the responsibility for buying the allowances to the charterer or operator during the charter period or voyage. The ability to transparently share data sets between partners that already have a commercial relationship will be vital to avoid disputes within this process.
“Working with the EU ETS requires learning to navigate an added level of complexity in charter party negotiations, so transparency of positions based on accurate data will be critical,” said Christian Råe Holm, Chief Operating Officer, Coach Solutions.
“The Coach reporting tool enables shipowners and vessel operators to understand their exposure and manage the risks that result from the carbon price.”