KR: About 92% of Ships Used FuelEU Pooling in First Year
Korean Register says about 92% of ships used FuelEU Maritime pooling in year one, as surplus prices fell to about 80% below the penalty.
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Pooling Dominated FuelEU Maritime’s First Year
About 92% of ships used pooling to meet FuelEU Maritime in the regulation’s first year, according to an analysis by Korean Register (KR). KR published the figures in the 14th issue of its quarterly KR Decarbonization Magazine, released on 29 October and reported by Hellenic Shipping News.
Under FuelEU Maritime, ships that miss the mandatory greenhouse gas-intensity limits can avoid penalties by pooling their compliance balances with over-compliant vessels. KR’s analysis also found that the price of compliance surpluses gradually fell to about 80% below the penalty level.
What It Means for Operators
Taken together, the two figures suggest that pooling was the dominant route in year one and that a pool surplus cost far less than paying the penalty. KR presents the analysis as a guide to compliance trends and their implications for decarbonization strategies.
Dr. Kanghyun Song, Head of Decarbonization Ship & Offshore Research at KR, said EU regulations “are already in effect” despite the delay in adopting the IMO Net-Zero Framework, and that shipowners “should maintain flexibility and strengthen their decarbonization strategies” rather than wait for regulatory clarity.
Also in the Issue: Marine SMRs and Methane Slip
The issue opens with a review of emerging regulation for marine small modular reactors (SMRs). KR looks at safety assurance, maintenance requirements and the cost and complexity of approvals, as well as IMO revision work, IMO–IAEA collaboration and its own technical projects.
It also carries an interview with Minho Kang, Senior Vice President at HD Hyundai Heavy Industries, on engine optimisation and exhaust aftertreatment, including the company’s Methane Oxidation Catalyst System (MOCS), which oxidises unburned methane escaping from LNG-fuelled engines.
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