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EU “Fit for 55” package ineffective, believes Cyprus Chamber of Shipping

EC package may prove ineffective, greatly impact European shipowners and undermine global efforts to meet required environmental objectives, it says.

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The European Union (EU) package to decarbonise shipping will simply not prove effective, believes the Cyprus Chamber of Shipping. The “Fit for 55” package is a set of proposals to revise and update EU legislation in an effort to reduce greenhouse emissions by 55% by 2030, it said in a Friday (30 July) statement.

The chamber acknowledges the need for action to face the climate crisis but contends the EC package may prove ineffective, greatly impact European shipowners and undermine global efforts to meet required environmental objectives.

Further, the chamber contends inclusion of shipping in the EU ETS — a revision of the EU emissions trading system (EU ETS), including its extension to shipping — and the FuelEU Maritime proposals – which aim to increase the use of sustainable alternative fuels in European shipping and ports — in the package do not ensure absolute emissions reductions will be achieved.

“The decarbonisation of the shipping industry is a global and not a regional challenge and as a regional market-based measure, the EU ETS will seriously undermine the ongoing international efforts and negotiations at Imo towards the sector’s decarbonisation.

The very complex characteristics of the shipping industry, with numerous ship types, trades, contractual relationships and stakeholders involved, make the ETS with a fluctuating carbon price, a system that will negatively impact the many small and medium sized shipowners who form the backbone of European shipping.

Furthermore, generated revenues should support the sector’s energy transition. It is important that revenues from the ETS should be used to support investment in research and development as it is acknowledged by all that decarbonisation will only be possible with the development of fuels and technologies that do not currently exist.

It should also be recognised that shipping’s decarbonisation should not fall solely on the shoulders of the shipowners, but it should be a collective effort by all stakeholders involved in the maritime transportation supply chain such as the charterers, cargo owners, fuel suppliers, engine manufacturers, ship builders and ports.”

As regards the FuelEU regulation, which aims to promote the market uptake of cleaner fuels currently not commercially available, The Chamber says that it introduces an extra administrative burden in addition to the Measuring, Reporting and Verification (MRV) systems which, since 2007, has had the role of exchange between climate negotiators, policymakers and. practitioners from more than 40 developing, emerging and developed countries.

“In addition to the MRV system, shipping companies will be subjected to a whole new separate system of reporting and verification of the carbon intensity of the fuels used onboard. This coupled with penalties for those companies that fail to meet the targets due to no fault of their own but due to the unavailability of specified fuels will further and unfairly burden the shipping industry,” the Chamber pointed out.

Finally, the FuelEU regulation, rather than imposing a fuel mandate on fuel suppliers, as is the case with other modes of transport, unfairly targets the ship operators, who cannot be held responsible for either the quality or the availability of specified fuels, according to the Cyprus Chamber of Shipping.

“The Chamber looks forward to working with the Cyprus flag, the European Parliament, the European Commission and other stakeholders in order to achieve the adoption of a pragmatic and realistic approach through the proposals.”

Various associations and shipping firms have expressed thoughts of the EU “Fit for 55” package; a collection of earlier statements from these entities can be found below:

Related: IBIA: Fuel EU Maritime, EU ETS and bunker tax proposals raise many questions
Related: Bio-LNG bunkering project ‘FirstBio2Shipping’ receives Fit for 55 Package EU funding
Related: Union of Greek Shipowners welcomes EC “Fit for 55 Package”; questions effectiveness
Related: SEA-LNG responds to the European Commission’s “Fit for 55” package
Related: It’s time for greater decarbonisation action: GoodFuels’ response to ‘Fit for 55’
Related: Maersk: Charting the course to a climate-neutral Europe and sustainable shipping
Related: ECSA: EC “Fit for 55” package offers lack of consistency among other climate proposals
Related: T&E: Still time to rectify ‘disastrous’ EU shipping policy

 

Photo credit: Guillaume Périgois on Unsplash
Source: Cyprus Chamber of Shipping
Published: 4 August, 2021

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Methanol

GENA Solutions: Total renewable and low-carbon methanol project pipeline increases from 61.8 to 62.2 Mt by 2032

Information shared by MI – the Global Methanol Alliance meant to assist the maritime industry in the adoption of methanol as a mainstream marine fuel heading into IMO 2030/2050.

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MI – the Global Methanol Alliance recently shared with Manifold Times the renewable and low-carbon methanol project pipeline August 2026 release produced by GENA Solutions Oy.

Information from the release is meant to provide the bunkering publication’s readers with insight on renewable methanol availability, and to assist the maritime industry in the adoption of methanol as a mainstream marine fuel heading into IMO 2030/2050.

Key takeaways from GENA’s August 2026 Methanol release are as follows:

  • As of the end of August 2026, GENA tracks 286 renewable and low carbon methanol projects, representing 62.2 Mt of capacity by 2032. This includes 25.1 Mt of e-methanol, 25.9 Mt of biomethanol, and 11.2 Mt of low carbon methanol capacity.
  • Two new projects were added to Project Navigator last month, while one frozen project was excluded. The project pipeline increased by 0.4 Mt month on month.
  • Four new offtake agreements were registered during August, including two biomethanol and two e-methanol agreements.
  • About 8% of the cumulative renewable methanol project pipeline capacity has reached FID so far, with another 11% at the FEED stage.
  • Considering the current uncertainty around regulatory developments and demand growth, GENA projects that renewable methanol capacity could reach 6 Mt to 12 Mt by 2031.

Note: The full article can be viewed here.

Renewable methanol project pipeline 4 Renewable methanol by feedstock 8 Renewable methanol by region 7 Project pipeline by status Methanol capacity scenarios

 

Photo credit: GENA Solutions
Published: 4 September, 2026

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Business

Singapore: MPA urges maritime firms to prepare for potential haze with plan

MPA encourages all maritime companies, especially those with workers performing outdoor work to maintain a business continuity plan for haze.

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RESIZED SG bunker tanker

The Maritime and Port Authority of Singapore (MPA) on Monday (31 August) issued Port Marine Circular No. 9 of 2026 on steps for maritime companies to take for potential haze affecting Singapore:

BUSINESS CONTINUITY PLAN FOR HAZE

This circular supersedes Port Marine Circular No. 09 of 2023.

With reference to the National Environment Agency’s (NEA) joint media release issued on 9 August 2026, hotspots were observed in parts of Sumatra and Kalimantan, with prevailing winds potentially bringing smoke haze towards Singapore. The dry conditions may further increase the likelihood of haze affecting Singapore. The Maritime and Port Authority of Singapore (MPA) encourages all maritime companies, especially those with workers performing outdoor work to maintain a business continuity plan for haze.

MPA advises all maritime companies to monitor the PSI level through the media and the NEA’s website (www.haze.gov.sg), keep at least a one-week supply of N95 masks for workers especially those who work outdoors, and observe the Ministry of Manpower’s (MOM) Haze guidelines and advisory for work which can be found on their website (www.mom.gov.sg/haze). The latter include guidelines to ensure that stocks of N95 masks are periodically inspected, remain serviceable, and not expired.

The visibility in the Singapore Strait and port waters could be significantly reduced in the event of haze. During periods of restricted visibility, shipmasters are advised to keep a proper lookout and navigate with caution. They are also advised to comply with the International Regulations for Preventing Collisions at Sea and in particular Rule No. 19, Rule No. 20 and Rule 35 concerning conduct of vessels in restricted visibility, exhibition of navigation lights and sound signals in restricted visibility, respectively.

In the interest of safety of navigation and life at sea, the Port Master may restrict the movement of harbour craft and pleasure craft in the port waters during reduced visibility conditions.

 

Photo credit: Manifold Times
Published: 31 August, 2026

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Alternative Fuels

DNV report: Regulatory uncertainty demands fleet strategies built for multiple futures

Report examines four regulatory scenarios, ranging from adoption of IMO NZF in its current form to its outright rejection, energy efficiency uptake, and long-term bunker fuel and technology strategies.

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DNV report: Regulatory uncertainty demands fleet strategies built for multiple futures

Regulatory uncertainty is increasing pressure on shipowners to make investment decisions that remain viable across multiple future scenarios, said classification society DNV on Thursday (27 August). 

According to DNV’s 10th Maritime Forecast to 2050, stronger global regulatory signals could accelerate the uptake of energy-efficiency measures, enabling the global fleet to consume up to 25% less energy by 2050 compared to a scenario where regulation is driven by regions.

The report examines four regulatory scenarios, ranging from adoption of the IMO Net-Zero Framework (NZF) in its current form to its outright rejection, which could lead to a period of prolonged regulatory gridlock, and explores the implications of these outcomes for fuel demand, energy efficiency uptake, and long-term fleet fuel and technology strategies.

Cristina Saenz de Santa Maria, CEO Maritime, DNV, said: “Ships ordered today will operate well beyond 2050, but many of the factors shaping their future performance remain uncertain. Regulatory requirements are advancing faster than the fuel, infrastructure, and technological systems needed to support them, making long-term investment decisions increasingly complex. The industry therefore needs greater clarity and alignment among all stakeholders to provide the confidence required for long-term investment. In the meantime, shipowners need strategies that deliver benefits today while remaining resilient across a range of regulatory and market outcomes.”

Energy efficiency is one of the most immediate and practical levers available to shipowners, delivering value across regulatory outcomes whether implemented at the newbuild stage or as a retrofit. A case study of a hydrodynamic measures retrofit on a 5,000 TEU container vessel showed potential annual fuel savings of 16%, with a payback time of around one to four years depending on future fuel prices. Retrofits can add similar value across many ship types and with sufficient planning can typically be completed during a standard class-renewal dry docking.

The development of the marine low-GHG fuel market remains a key challenge. While significant progress has been made in expanding alternative-fuel capabilities of vessels, scaling fuel production depends on confidence that demand will materialize. DNV projects shipping demand for low-GHG fuels to range from 4 to 22 Mtoe by 2030 and 33 to 185 Mtoe by 2050, depending on regulatory outcomes, with uptake also shaped by future uptake of shore power, plug-in hybridization, nuclear power, and onboard carbon capture systems.

Current project pipelines indicate a maximum global supply of 270 Mtoe by 2030, although actual volumes are likely to be lower due to project delays and other uncertainties, and shipping will need to compete with other industries for its share. However, the cost of reducing emissions varies significantly between fuel pathways, with abatement costs ranging from about 180 to 1,290 USD per tonne of CO₂ avoided, highlighting the importance of regulation and market incentives in enabling low-GHG fuel markets to develop.

Øyvind Sekkesæter, lead author of Maritime Forecast to 2050, said: “Scenarios explored in this year’s report show how different regulatory futures can lead to very different outcomes in energy efficiency uptake, fuel demand, and consequently, GHG emissions. By testing fuel and technology choices across multiple scenarios, shipowners can identify strategies that create value today while preserving flexibility as regulation, fuel availability, prices, and technologies evolve. Strategies that each owner chooses will also be dependent on their fleet type and operating context.”

Key findings from the report: 

  • Several regulatory futures remain possible as the IMO continues negotiations on the Net-Zero Framework, with these outcomes shaping investment decisions, low-GHG fuel uptake, and energy-efficiency deployment across the global fleet.
  • With global regulatory incentives in place, the world-fleet could consume 25% less energy by 2050 than under a scenario limited to regional regulations.
  • Energy efficiency can pay off regardless of regulatory outcome – 5,000 TEU container ship case study shows 16% annual fuel savings from hydrodynamic measures retrofit.
  • Shipping demand for low-GHG fuels could range from 4 to 22 Mtoe by 2030, and 33 to 185 Mtoe by 2050, depending on regulatory outcomes and the availability of these fuels in a competitive global market.
  • Current project pipelines indicate that a maximum of 270 Mtoe of supply could be available by 2030, though actual volumes are likely to be lower due to project delays and other uncertainties, and shipping will need to compete with other industries for its share.
  • Testing fuel and technology strategies across different scenarios can help shipowners identify robust choices for an uncertain transition. Testing, piloting, and verifying technologies can provide the trusted performance data needed to make investment decisions with greater confidence.

Note: DNV’s 10th Maritime Forecast to 2050 can be found here. 

 

Photo credit: DNV
Published: 28 August, 2026

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