zero44 Introduces First User-Friendly “FuelEU Maritime Calculator” To Tackle Shipping Costs

A digital CO2 management solutions supplier, zero44, recently launched the revolutionary “FuelEU Maritime Calculator.” This application intends to make it easy and quick for shipping firms to understand the financial implications of the upcoming FuelEU Maritime legislation.

The calculator generates estimates, providing a basic foundation for tackling the expenses connected with FuelEU maritime. FuelEU Maritime, which is scheduled to come into effect in January 2025, aims to lower the yearly average greenhouse gas (GHG) intensity of vessels and start the mass production of sustainable marine fuels.

Under the regulation, a GHG intensity limit of two per cent less than the 2020 reference is required. Noncompliance will have severe consequences, with intensity objectives increasing in severity every five years and an 80 per cent reduction in GHG intensity by 2050.

FuelEU, like the EU ETS, pays for 50% of the energy used on ships traveling to and from EU ports and 100% of the energy used on ships traveling between EU ports that weigh more than 5,000 gross tonnes.

FuelEU examines emissions throughout a fuel’s lifecycle, from extraction to burning, compared to the EU ETS, which only measures emissions from tank to wake.

Although FuelEU Maritime is well-documented in technological and regulatory aspects, businesses find it challenging to determine how it will affect their operations.

Addressing this difficulty, zero44 created the publicly available FuelEU Maritime Calculator. Users enter their ships’ annual fuel use, categorised by fuel type and exposure to EU regulations. The tool then calculates GHG intensity and related penalties.

The calculator’s figures are descriptive rather than definitive because they do not account for specific criteria like engine specifications or the type of biodiesel used. Currently, the tool is limited to conventional fuels and biodiesel and is meant to be a preliminary evaluation tool rather than a final decision-making aid.

A software system that incorporates voyage data to forecast and track GHG intensity under different conditions is being actively developed by zero44.

Co-founder and managing director of zero44 Friederike Hesse adds that for businesses to effectively adapt, they must be aware of FuelEU Maritime’s expected expenses. The FuelEU Maritime Calculator aims to shed light on previously abstract concepts, encouraging businesses to delve more into the subject.

Reference: Splash247, DigitalShip

zero44 Introduces First User-Friendly “FuelEU Maritime Calculator” To Tackle Shipping Costs appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News