The European Union’s Emissions Trading System (EU ETS) has entered its first payment phase for the shipping industry. By September 30, 2025, shipping companies must make their first payments under the scheme.

Shipping consultancy Drewry estimates that around 13,000 vessels fall under its scope. For now, companies are required to surrender 40% of EU Allowances (EUAs) for each tonne of CO₂ emitted in 2024, but that share will rise steadily in the years ahead.

CO₂ emissions reached 90 million tonnes in 2024, up 14% from 2023. Drewry attributes this rise to geopolitical events that led vessels to reroute around the Cape of Good Hope instead of using the Suez Canal.

The EUAs are expected to generate around USD 2.9 billion for the EU, Drewry estimates. If emission levels remain similar, Drewry projects the total cost to rise to around USD 7.5 billion once all greenhouse gases are phased in.

Despite representing only 16% of vessels, container ships account for 34% of total CO₂ emissions, according to EU MRV data.

Source: Drewry Maritime Research