The FuelEU Maritime Regulation is a fundamental cornerstone of the EU strategy to support the transition towards more sustainable modes of transport and to put the EU on track for the full decarbonization of the transport sector by 2050.
The Regulation has been introduced as part of the EU’s aim to achieve a 55% reduction in greenhouse gas (GHG) emissions by 2030 and to encourage the maritime sector to switch to renewable and sustainable fuels.
The Regulation permits pooling compliance balances among ships operated within the same pool and introduces various contractual issues that parties to shipping agreements and/or ship financing arrangements which we look at in more detail in this insight.
