| dc.description.abstract | This report has studied how a shuttle tanker company could adapt to and secure compliance with the new EU ETS regulations. ETS – Emissions Trading System is being implemented because of the European Union’s commitment to decarbonize the shipping industry.
ETS is chosen as the main topic of this thesis as it is highly relevant for the shipping industry. The regulation aims to reduce greenhouse gas emission by limiting the amount of ton CO2 that could be emitted every year. Shipping companies will have to surrender allowances called EUAs. One EUA is equivalent to one ton of CO2. Purchasing and surrendering allowances is costly and will have impact on contractual agreements as well as financial exposure. As part of the thesis, I have been working as an intern at Altera Infrastructure in Stavanger.
There is no doubt that the regulations lead to concerns which needs to be solved. I identified categories which raised concerns internally. These have been discussed with focus on the regulatory framework that have been presented by the European Commission. There are a lot of things that needs to be solved related to the implementation. The most urgent categories which has been identified to secure a smooth transition is related to emissions reporting, legal aspects, commercial aspect, and strategies on acquiring allowances.
I have been part of a reactive group who has tried to comprehend the most urgent challenges arising relating to the topic. The thesis discusses the various categories which has been identified and there is no doubt that it imposes great challenges. Altera is active and well prepared for the implementation of the regulations, but there are challenges that needs be solved. | |
