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OceanScore calculates EUR 175 mil potential costs for Greek shipping with FuelEU Maritime

Greek shipping companies are set to face a total bill of over EUR 175 million in penalties incurred under FuelEU Maritime but can also capitalise on the use of alternative bunker fuels, says firm.

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OceanScore calculates EUR 175 mil potential costs for Greek shipping with FuelEU Maritime

Greek shipping companies are set to face a total bill of over EUR 175 million in penalties incurred under FuelEU Maritime after it takes effect next year but can also capitalise on the use of alternative bunker fuels both to curb their financial exposure and generate compliance surpluses, according to Hamburg-based technology platform OceanScore on Tuesday (10 September). 

The maritime solutions and data firm has calculated the prospective FuelEU exposure for over 370 Greek-registered companies based on the average GHG intensity of their past voyages.

Based on these calculations, OceanScore has determined the crude tanker, RoPax, bulker and containership segments would be hardest hit, with tankers accounting for EUR 55 million (32%) and RoPax EUR 44m (25%) of potential penalties.

It has determined the top three shipping companies would be looking at a combined penalty of EUR 25m, with the largest company facing the highest overall penalty of EUR 11.75 million and an average per-vessel penalty of EUR 309,200, versus an average per-vessel penalty across all companies of EUR 84,200. The second and third largest players would each have total penalties of around EUR 6.5m.

Investments needed to offset compliance deficit

The overall Greek fleet of 2100 vessels would be left with a negative compliance balance, or deficit, of 71,666 tonnes of VLSFOe, according to OceanScore.

This is derived from a Greek fleet-wide average GHG intensity of 90.81g of CO2e per megajoule (MJ) of energy versus the initial FuelEU hurdle rate of 89.3g CO2e/MJ – a 2% reduction on the 2022 baseline of 91.16g CO2e/MJ that is the initial target from 2025-30 under the regulation.

However, OceanScore’s co-Managing Director Ralf Garrn, said: “This should only be considered the starting point for Greek shipping and not the final scenario as much will depend on how companies take advantage of biofuels, low-carbon technologies and the FuelEU pooling mechanism to minimise their exposure.

“Vessels with a very high penalty structure will also gain the greatest beneficial effects from fuel switching with biofuels to reduce their penalties and can even convert these into opportunities by creating compliance surpluses that can generate revenue through pooling.”

LNG well-positioned to benefit

He highlighted Greek LNG shipping operators as being especially well-positioned to capitalise on FuelEU due to a high compliance surplus that makes pooling opportunities attractive, given the use of LNG as fuel can cut emissions by around 25%. For example, two of the country’s largest LNG operators have respective surpluses of 82.1 tonnes and 45.2 tonnes of VLSFOe.

Garrn said the use of widely compatible biofuels probably represents the easiest option for most shipping companies to cut their carbon footprint in the short term. However, these are more expensive – at around EUR 1300 per tonne of VLSFOe – than fossil fuels, while they also have a lower calorific value so a higher volume is required.

He explained that switching to biofuels to curb CO2 emissions would result both in savings on the current FuelEU penalty of EUR 2400 per tonne of VLSFOe as well as reduced costs under the EU Emissions Trading System (EU ETS) due to the need to buy fewer EU Allowances (EUAs), or carbon credits.

OceanScore has calculated that Greek shipping presently has a requirement to purchase nearly 8.23m EUAs to meet its EU ETS liabilities, which would equate to EUR 543 million based on the current carbon price of EUR 66 per tonne of CO2.

High potential for cost savings

The company cites the example of a containership that could achieve a total net saving of EUR 1.3m versus the cost of paying FuelEU penalties by replacing HFO with rapeseed-based biofuel costing EUR 1200 per tonne. It estimates this would give a beneficial financial impact of EUR 241 per tonne in FuelEU penalty savings and EUR 55 per tonne in EU ETS savings.

Furthermore, this could generate a compliance surplus of 973 tonnes of VLSFOe by reducing GHG intensity to 82.44g CO2e/MJ, which could be pooled externally to earn EUR 2.3 million in revenue or used to offset 43,000 tonnes of under-compliance in the internal fleet. 

OceanScore has now launched its FuelEU Planner – the first in a suite of solutions set to be rolled out over the next year – that enables shipping companies to simulate different operational and investment scenarios to assess their commercial impact in relation to FuelEU compliance.

“This tool is designed to facilitate optimal decision-making by providing visibility on potential cost-saving opportunities as an alternative to simply paying penalties as we help the industry navigate the significant complexity of this regulation,” Garrn concluded. 

 

Photo credit: OceanScore
Published: 12 September, 2024

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FuelEU

Ahti Climate and DNV connect verified emissions data to FuelEU pooling platform

New integration connects Ahti’s FuelEU pooling platform with DNV’s verification services, Veracity, helping customers reduce manual administration and streamline compliance.

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Ahti Climate brings DNV-verified emissions data into FuelEU pooling platform

Ahti Climate on Monday (31 August) announced a new integration with Veracity, DNV’s independent industry cloud platform, enabling shipowners and operators to seamlessly transfer DNV-verified emissions data into Ahti’s FuelEU pooling platform. 

The integration simplifies emissions reporting by connecting operational data verification with FuelEU compliance workflows, helping customers reduce manual administration, improve data quality and confidently meet regulatory requirements.

For customers such as shipping company Bore Ltd, the integration streamlines the flow of emissions data between verification and compliance systems. Raw fuel consumption data is automatically converted into the required OVD format and submitted for DNV verification through Veracity. Once verified, the emissions figures are securely shared with Ahti’s FuelEU pooling platform, creating a more efficient workflow with less manual administration and greater confidence in reported emissions data.

“Being on one of the surplus generators of the pool, trust in the data is everything for us – we need to know the numbers we’re selling hold up to scrutiny. With verified emissions data flowing straight from Veracity by DNV into the Ahti Pooling Platform, we no longer have to manually cross-check figures before every transaction. It gives us confidence that what we’re bringing to the pool is accurate, and that our partners can rely on it too,” said Marcus Strand ICT Manager at Bore Ltd. 

The integration enables customers to:

  • Reduce manual data entry and administrative workload
  • Improve data quality and reduce the risk of reporting errors
  • Securely exchange verified emissions data across systems and stakeholders
  • Increase transparency and confidence in compliance reporting
  • Connect commercial, operational and compliance workflows
  • Reduce turnaround times for reporting and voyage settlements

“Every partnership we build comes back to the same question: does this make compliance easier for shipowners? With Veracity by DNV, the answer is clearly yes – verified data, connected systems, and one less thing for our customers to worry about,” said Risto-Juhani Kariranta, CEO of Ahti Climate. 

With connectivity to the majority of the world fleet, Veracity’s trusted partner ecosystem, combined with Ahti’s expertise in FuelEU pooling, gives shipowners a more connected approach to emissions verification and compliance. By enabling verified data to flow securely between systems, the partnership helps customers reduce complexity and get greater value from their data and access a growing network of digital solutions.

 

Photo credit: Ahti Climate
Published: 1 September, 2026

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Decarbonisation

NAPA: Why operational efficiency remains shipping’s golden ticket

With regulation tightening and alternative fuels still evolving, Pekka Pakkanen says operational efficiency offers shipping an immediate, scalable way to cut fuel use, emissions and costs.

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NAPA: Why operational efficiency remains shipping’s golden ticket

Shipping’s decarbonisation ambitions are clear but turning that ambition into commercially viable emissions reductions at scale remains a challenge.

As regulatory requirements tighten and fuel markets remain volatile, Pekka Pakkanen, Executive Vice President, Shipping Solutions, NAPA, says operational efficiency is emerging as one of the most immediate and scalable levers available to shipowners, with digital tools increasingly helping to maximise the benefits of energy efficiency technologies: 

The shipping industry’s decarbonization drive does not lack ambition – that is visible in the pace of innovation and research we see around us. But translating that ambition into action at scale and in a commercially viable way remains a different challenge altogether. The International Maritime Organization’s MEPC 84, which concluded in April 2026, reminded us of both how far we have come and how much complexity still remains.

Discussions around the Net-Zero Framework continued, with delegates agreeing to seek further consensus on key adjustments later in October 2026, while progress was made across several other fronts. Separately, the adoption of amendments designating the North-East Atlantic as a new Emission Control Area for Sulphur Oxides (Sox), particulate matter and nitrogen oxides (Nox) is a significant achievement. At the same time, the second phase of the review of the Ship Energy Efficiency Management Plan (SEEMP) and the Carbon Intensity Indicator (CII) began, focusing mainly on enhancing the SEEMP.

Progress, though incremental, is still being made in an environment defined by mounting regulatory obligations, volatile fuel markets, and a clean technology landscape still maturing. All these factors create a backdrop of uncertainty. It’s a word used often to describe shipping’s operating environment and still stands the test of time.

Why energy efficiency technologies remain key

Despite knowing this, the argument I want to put forward is a simple one that can help cut through the uncertainty. The single most accessible, most immediate, commercially viable and scalable lever available to shipping today for managing decarbonization is operational efficiency. Not instead of alternative fuels or new vessel technologies, but as the foundation on which everything else must be built.

Fuel price volatility has made efficiency a financial necessity as much as an environmental one. The European Union Emissions Trading System (EU ETS) and FuelEU Maritime are already in effect and tightening year on year. Add to this the second phase of the CII and SEEMP review, which MEPC 84 formally commenced, and all signs point to the need for operational performance data, optimization and reporting.

In today’s market, efficiency is both a sustainability metric and a margin protection strategy. Every tonne of fuel saved reduces exposure to volatile fuel prices, emissions costs, and operational uncertainty. The question for shipping executives is, therefore, is how to maximize the impact of efficiency.

The answer increasingly lies in the intelligent combination of digital tools and energy efficiency technologies. One development that has captured significant industry attention is the growing integration of wind-assisted propulsion systems (WAPS) with voyage optimization software. Harnessing the power of the wind is not just about installing sails, wings, or kites – it is also about navigating the inherent challenges that come with wind propulsion, from complex and fast-evolving weather patterns to training crew. Operating wind-assisted propulsion vessels requires both careful pre-planning and adjustments throughout a ship’s journey. Fast-evolving wind speed and direction, as well as waves and currents, must be assessed and constantly re-assessed throughout the voyage to determine the best possible route. Wind-assisted vessels need to catch winds at the right speeds and angles to make the most of their wings, rotors, or sails, which demands continuous route and speed modelling throughout the voyage not just before it. Relying on traditional means and manual methods alone risks leaving a lot of savings on the table. Instead, understanding changes in wind patterns and using this to the vessel’s advantage requires advanced digital tools.

Classification societies have also been responding to the increase in WAPS on the market and have included specific stability rule checks, which digital tools can help comply with. WAPS typically add weight to a vessel’s upper structure, shifting its center of gravity and creating additional stability considerations to be managed. Digital tools, within NAPA Design, can be used to calculate vessel stability characteristics and help users check their design’s performance against multiple classification society rules as well. These are all essential considerations to ensure the solution continues performing optimally.

Whether the technology is wind-assisted propulsion or air lubrication technology, digital technologies can help maximize the savings they deliver. Users can measure performance, adapt operations continuously and make decisions based on reliable data, which can then inform future investments in energy efficiency technologies.

MEPC 84 makes progress on the foundations underpinning global decarbonization 

The expansion of ECAs at MEPC 84 – including the newly designated North-East Atlantic zone – adds another layer of complexity. Research has consistently shown that ECA avoidance through route deviation is rarely the optimal commercial or environmental response; the fuel costs and schedule implications of detours frequently outweigh the cost of sailing through the zone with compliant fuel. Voyage optimization tools model these trade-offs in real time to help make better decisions than human assumptions alone.

MEPC 84 also progressed a review of the SEEMP framework, which remains central to how vessels document and demonstrate their carbon intensity management. The direction of travel is towards increased expectations around the quality, granularity, and integration of performance data. As regulatory frameworks increasingly rely on verifiable performance data, the quality of operational data becomes just as important as the technologies being measured. Poor data quality can undermine both compliance confidence and optimization efforts. Shipowners who have already invested in the digital infrastructure to capture and act on operational data will find themselves significantly better positioned, both for compliance and for commercial advantage.

The case for integrated data systems – platforms that bring together performance analytics, voyage planning, regulatory compliance, and reporting in a coherent interface – is a response to genuine operational needs. When data from signals, noon reports, and logbook entries can be brought together on one platform to produce clear, actionable insights, crews spend less time managing information and more time using it. The same shared source of operational truth also supports better ship to shore collaboration to support real-time route and speed optimization, continuous hull performance monitoring, and integrated compliance management.

None of this diminishes the importance of the longer-term energy transition. Alternative fuels, new energy efficiency technologies, and next-generation vessel design all have a critical role to play in reaching net zero by 2050. But those transitions take time, capital, and regulatory frameworks that are still being finalized. In the interim, and complementing those transitions, operational efficiency represents a proven, scalable, and commercially viable path to meaningful emissions reduction. The industry does not need to wait for its decarbonization ‘golden ticket’ to arrive from future technology. It already holds one. The challenge now is not identifying opportunities for efficiency but capturing them consistently across fleets and voyages.

 

Photo credit: NAPA
Published: 28 August, 2026

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Alternative Fuels

Peninsula: Bio-LNG offers practical route to shipping decarbonisation

Company outlines why bio-LNG is emerging as a key fuel pathway in the maritime energy transition including playing a role in helping operators manage their emissions profile.

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Peninsula

Marine fuels supplier Peninsula recently published an article on why bio-LNG is emerging as a key fuel pathway in the maritime energy transition:

As the maritime industry accelerates its decarbonisation journey, operators face a growing challenge: reducing emissions while maintaining operational efficiency and commercial viability. While no single fuel offers a universal solution, Bio-LNG is increasingly attracting attention as a practical pathway for LNG-fuelled vessels seeking immediate emissions reductions without major infrastructure changes. 

The conversation around alternative fuels often focuses on future technologies and long-term investments. However, for many operators, the more pressing question is how to reduce emissions today using solutions that can be implemented within existing operations. This is where Bio-LNG presents a compelling proposition. 

“As operators look to balance compliance, cost and operational performance, Bio-LNG offers a practical solution that can be integrated into existing LNG infrastructure today. Increasing availability across key bunkering locations is helping turn decarbonisation ambitions into operational reality.” Cristina Danes, LNG Supply Trader, Peninsula. 

Building on Existing LNG Infrastructure 

BioLNG is a renewable marine fuel produced from certified biogenic waste feedstocks. While its origin differs from conventional LNG, it remains chemically equivalent, allowing it to be used within existing LNG infrastructure and dual-fuel engines. This compatibility eliminates the need for costly vessel modifications or extensive retrofitting programmes, reducing both complexity and investment requirements. 

For operators that have already invested in LNG-capable vessels, bioLNG offers a clear route to further improve environmental performance while leveraging existing assets and supply chains. 

The increasing availability of bioLNG across key bunkering hubs is helping remove barriers to adoption. Recent supply operations, including Peninsula’s first Bio-LNG delivery in the Port of Cadiz, illustrate how renewable marine fuels are becoming more accessible through existing LNG supply chains. 

Delivering Meaningful Emissions Reductions 

As regulatory requirements continue to evolve, the ability to demonstrate measurable emissions reductions is becoming increasingly important. BioLNG can achieve lifecycle greenhouse gas emissions reductions of up to 90% compared with conventional marine fuels when produced from certified waste-based feedstocks. 

These reductions represent a significant opportunity for vessel operators looking to improve their environmental performance while balancing commercial considerations and operational requirements. 

Supporting Regulatory Compliance 

Alongside emissions reduction targets, compliance is becoming an increasingly central consideration in fuel procurement decisions. 

Frameworks such as FuelEU Maritime are creating new incentives for lower-carbon fuel adoption while introducing additional complexity into compliance planning. In this environment, BioLNG can play an important role in helping operators manage their emissions profile and support broader compliance strategies, including participation in mechanisms such as FuelEU pooling. 

As regulations continue to develop, flexibility will become an increasingly valuable asset. Fuels that can deliver both environmental and compliance benefits are likely to play a growing role in operators’ fuel strategies. 

A Practical Step Forward 

The maritime energy transition will require a mix of solutions, technologies and fuel pathways. While longer-term alternatives continue to develop, BioLNG provides an immediately available option for LNG-fuelled vessels seeking to reduce emissions and prepare for a more carbon-conscious operating environment. 

For many operators, the transition to lower-carbon shipping will not be defined by a single transformational change, but by a series of practical steps. BioLNG represents one such step: leveraging existing infrastructure, supporting regulatory compliance and helping bridge the gap between today’s operations and the future of shipping.

 

Photo credit: Peninsula
Published: 11 August, 2026

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