Emissions tech start-up zero44 has released a free online FuelEU Maritime Calculator, developed to assist shipping companies in understanding the financial impact of the planned FuelEU Maritime regulations on their business.
The company notes that the results are estimates and are not binding, but should provide a useful initial basis for identifying the cost factors of the new regulatory regime.
FuelEU Maritime’s main focus is on decreasing vessels’ yearly average greenhouse gas (GHG) intensity. This is the amount of greenhouse gas emitted for every MJ of energy that is consumed on board a vessel.
The regulation will enter into force in January 2025, requiring a GHG intensity limit that is 2% lower than the 2020 reference. That percentage reduction required will increase every five years, up to an 80% decrease in GHG intensity from 2050.
zero44’s new tool allows users to enter the annual fuel consumption of a ship (divided into HFO, LFO, MDO/MGO, LNG and biodiesel) and its exposure to the regulation based on travel to, from or within the EU. The software then calculates the resulting greenhouse gas intensity figures and any penalties to be expected.
The company notes that its estimates do not take into account all individual parameters (such as specific types of biodiesel used, or a ship’s engine type and resulting slipped emissions). As the calculator is aimed at providing insights based on current circumstances it only covers conventional fuels and biodiesel, and is intended to offer an initial assessment of the impact of the regulation and should not be used as a final decision-making aid.
zero44 says it is currently also working on a software system that integrates with voyage data and can be used to plan and predict GHG intensities under different scenarios, as well as monitoring intensities over different voyages and time periods.
“In order to be able to adapt to FuelEU Maritime, companies first need to understand what costs they can expect,” said Friederike Hesse, co-founder and Managing Director of zero44.
“Our tool makes concrete what was previously abstract. We hope it will give as many companies as possible an initial incentive and a basis to take a closer look at the topic.”
