SSY launch Carbon Calculator to help clients navigate transition into the European Union Emissions Trading Scheme (EU ETS)

Following on from the launch of its EU ETS compliance solution in September, SSY – the world’s largest independent shipbroker, has today announced the launch of a new SSY Carbon Calculator which will enable clients to better navigate their transition into the EU ETS.

From 1 January 2024, shipping will be included in the EU ETS. As a result, vessels visiting EU ports will be required to offset their applicable CO2 voyage emissions through the purchase of an equivalent number of EU Allowances (EUAs). The cost and quantity of EUA purchases can now be estimated using the SSY Carbon Calculator, which is available via the SSY Navigator portal (www.ssyglobal.com).

Based on a simple voyage calculation, users can input the details of their planned route and vessel parameters, (including leg distance and time at port). The SSY Carbon Calculator will then provide an estimate of their market exposure including total CO2 emissions, required EUAs and the cost of those EUAs.

The new Carbon Calculator is the latest initiative to come from the SSY Carbon team. In September this year, it launched an all-encompassing EU ETS compliance solution which enables procurement and warehousing of EUAs on behalf of its customers, thereby alleviating the operational and regulatory challenges that operators would otherwise face as a consequence of the new legislation.

Speaking on today’s announcement, James Ash, Head of Carbon Markets at SSY comments: “Adding Shipping into the EU ETS is very complex and can be daunting for many within the Maritime sector. At SSY, we are working hard to simplify EU ETS participation for our customers with a range of solutions and having access to the SSY Carbon Calculator will definitely help our global customer base evaluate EUA costs whilst also pricing fuel and freight”.

Alastair Stevenson, Head of Digital Analysis at SSY continues; “ It’s the proverbial eleventh hour – on the 1^st January, shipping is scheduled to be included in the EU ETS. Thankfully, SSY’s client base is generally well prepared with strategies in place to manage their EU Allowance exposure but of course, there’s always a lot to be done at the eleventh hour. SSY stands ready to assist clients manage their EUA exposure through our comprehensive carbon solutions, market analysis, client briefings and our newly launched Carbon Calculator. It’s another reason why experience matters”.

ENDS

SSY Press Contact: Michael Mervyn-Jones

E:         m.mervyn-jones@ssyglobal.com

T:         +44 (0)7702 696 306

About SSY

Established in 1880, SSY has grown to become one of the biggest and most trusted names in broking, operating around the world via its 24 local offices.  Our 500 experts cover a range of major markets including Dry Cargo, Tankers, Derivatives, LNG, Sale and Purchase, Offshore, Chemicals, Towage and Ship Finance.

SSY has a global reach with offices in Athens, Copenhagen, Dubai, Geneva, Genoa, Hamburg, Hong Kong, Houston, Kristiansand, London, Madrid, Mumbai, New York, Oslo, Rio, Seoul, Shanghai, Singapore, Stamford-USA, Sydney, Tokyo, Vancouver, Varna, Zug.

www.ssyglobal.com