The EU Emissions Trading System (EU ETS) is a key part of the EU’s policy to combat climate change, aiming to reduce greenhouse gas (GHG) emissions via a carbon market where polluters pay for GHG emissions. Shipping will be included in the EU’s Emission Trading System (EU ETS) from 2024, making digital solutions such as Accelleron’s Tekomar XPERT more important than ever for the maritime industry.
As part of the legislation, the cap for emissions is reduced each year, ensuring that the EU’s emission target by 2030 of 55% reduction, relative to 1990, can be met while becoming climate-neutral by 2050.
Each year, a limited amount of EU Allowances (EUAs) is made available for trading in the market, and this is reduced yearly for the EU to meet its target of ‘Fit for 55’.
Companies with ships operating to or from ports in the EU or EEA are required to monitor, report and verify their GHG emissions on an annual basis under the EU MRV regulation. Beginning 1st January 2024, this information will be used to determine the allowances required.
The cost of purchasing allowances under the EU ETS can be a significant expense for shipping companies, and companies that fail to surrender allowances are liable to an excess emissions penalty of 100 Euros per ton of CO2 and are still liable for the required allowances.
How Tekomar XPERT can make a difference
By evaluating deviations and quantifying potential fuel oil savings, Tekomar XPERT offers an excellent value proposition, delivering accurate advice that mitigates high fuel costs and reduces the environmental footprint of ship owners and operators.
Marine customers can benefit from an instant overview of their entire fleet, and Tekomar XPERT is compatible with vessels of any size, type or age. Customers can quickly pinpoint vital data, with the ability to analyze and identify low performing vessels and fleets. This makes it possible for fleet owners and operators to turn their attention to areas where intervention is required most.
More importantly when it comes to EU ETS, Accelleron’s Tekomar XPERT now includes an updated Emissions module that is ready to monitor and report emissions for MRV regulation, readily supporting EU ETS infrastructure.
Additional data validation features in terms of data availability and data quality have been added to the Tekomar XPERT Emissions module, which enables correction of reports before submitting to an authority. This will provide additional robustness and reliability during EU ETS implementation.
By utilizing the Emissions Forecasting feature in Tekomar XPERT Emissions module, ship owners and operators can foresee and estimate their future emissions at a vessel level. This will enable users to estimate their EU Allowances needs in advance, making it possible to take necessary actions to balance their EUAs before the surrendering period. Precautions to remain on the safe side of EU ETS can also be studied using the module.
Measures such as speed reduction, hull cleaning and engine optimization can be simulated using the Emissions Forecasting module, while various scenarios for ship speed optimization as per targeted emissions (and for targeted CII ratings) can also be performed.
Getting the most out of your engine
Tekomar XPERT’s Emissions Forecasting module isn’t the only area where ship owners and operators can benefit from additional analytics, and Accelleron provides a range of modules to ensure you can get the most out of your equipment, including:
Optimize fuel efficiency and engine performance with instant engine diagnostics. Crews using Tekomar XPERT can carry out a performance reading at any desired time, typically monthly, and automatically receive the results. See what’s going on, make smart corrections, and reach your engine’s efficiency potential all the time.
Stay on top of your Carbon Intensity Indicator (CII) rating. Get a clear view of each vessel’s current CO2 emissions and see CII rating forecast reports, automatically. Improve your CII ratings as you improve your operational efficiency. You can use the Emissions Forecasting module to meet stringent EU ETS targets and avoid large fees for non-compliance.
Hull and propeller condition make a big impact on efficiency. Get critical insights into their condition and its effect on propulsion efficiency. Reduce overconsumption and CO2 emissions and make smart choices on the timing of hull cleaning.
With the latest version of Tekomar XPERT’s Emissions Forecasting module now supporting EU ETS infrastructure, there’s never been a better time for ship owners and operators to invest in Accelleron’s go-to solution for ship performance optimization.
Want to know more? Check out Accelleron’s Tekomar XPERT today