EU ETS and FuelEU Maritime: EU Requires 100% EUA Surrender from 2026
Cubierto por 3 fuentesPublicado
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Shipping companies operating vessels that call at European Union ports face a growing requirement under the EU ETS: from 2026 they must surrender EUAs (European Union Allowances) covering 100% of their verified emissions, up from the 70% that applied to 2025 emissions, for which the surrender deadline expired on September 30. Starting that year, the emissions calculation will also incorporate methane and nitrous oxide, broadening the range of vessels and fuels affected, particularly those powered by LNG.
FuelEU Maritime and compliance options
At the same time, FuelEU Maritime, fully in force since January 1, 2025, sets progressive targets for reducing the greenhouse gas intensity of energy used on board, starting at 2% in 2025 and rising to 6% by 2030 and 80% by 2050. To manage compliance deficits, shipowners can opt for borrowing, limited to an intensity gap of no more than 2% and subject to a 10% penalty the following year, or for pooling, which allows a vessel's deficit to be offset by the surplus of others without a penalty multiplier and covering the entire fleet.
EUA price volatility
The EUA market showed strong volatility in the first months of 2026: prices fell from around 90 euros to approximately 60 euros per tonne of CO2 equivalent, driven by uncertainty over the EU ETS reform. According to KPI OceanConnect, this decline helps offset the rise in conventional fuel costs stemming from geopolitical tensions in the Middle East, and opens an opportunity for biofuels, such as B100, to narrow the price gap with low-sulphur marine gasoil, reinforcing their appeal against the combined requirements of the EU ETS and FuelEU Maritime.
Reform underway in Brussels
While these obligations are being implemented, the European Commission presented in July two reform proposals, one amending the ETS Directive and another amending the MRV and FuelEU Maritime regulations, currently under negotiation between the Council and the European Parliament. Rapporteur Peter Liese proposed raising to 75% the share of ETS revenues earmarked for industrial decarbonization, up from the 50% put forward by the Commission, in addition to tightening measures against carbon cost circumvention, such as lowering the transshipment threshold from 65% to 50% and extending coverage to smaller vessels of 400-5,000 GT. The reform also seeks to simplify and align the reporting cycles for MRV, ETS and FuelEU Maritime to reduce the administrative burden on shipping companies.
An integrated fuel and carbon strategy
Against this backdrop, marine energy specialists argue that fuel choice has a direct impact on the number of EUAs that must be purchased, since lower-carbon fuels, such as certified biofuels, reduce verified emissions figures and, therefore, the surrender obligation. For this reason, they recommend managing fuel and EUA purchasing jointly, taking into account prices, surrender deadlines and each operator's risk profile, rather than treating both decisions separately.
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