On January 10, the seminar titled “FuelEU Maritime & Carbon Tax from Policy, Analysis to Response” was held in Shanghai through a hybrid format of both offline and online participation. This event was co-organized by Maritime China (COSCO SHIPPING’s journal), the Baltic and International Maritime Council (BIMCO), the China Shipowners’ Association (CSA), and Shanghai Maritime University (SMU). It attracted over 240 delegates from government bodies, industry associations, research and higher education institutions, consulting firms, and various stakeholders in the shipping sector. The event centered around the theme of contributing "China solutions" to navigate the challenges posed by the new EU carbon tax regulations for shipping fuels. The objective was to proactively address these regulatory changes, strengthen industry consensus, and collectively seek fresh impetus and pathways for the green transition of the maritime industry. Discussions aimed at removing compliance obstacles and discovering equitable, reasonable, and practical strategies for global maritime decarbonization were also emphasized.

During the event, several leading enterprises across multiple industries pledged their commitment to advancing the widespread adoption of green methanol as a marine fuel. Specifically, China Marine Bunker (PetroChina) Co., Ltd. (CHIMBUSCO) entered into a memorandum of understanding with Methanex. Additionally, CHIMBUSCO, China Huadian Engineering Co., Ltd., Inner Mongolia Huadian Mengdong Energy Co., Ltd., and WELLE Environmental Group Co., Ltd. signed another memorandum focusing on the green fuel cooperation.

During the three panel discussions held in the afternoon, an array of esteemed guests from government, industry, and academia tackled pressing topics such as “Navigating the ‘Carbon Threshold’ Amidst Escalating FuelEU Carbon Tax and Fuel Compliance”, “Decarbonization: A Dual Challenge for Regulations and Commercial Agreements”, and “The Systemic Approach to Carbon Tax Response Requires Industry Chain-Wide Collaboration”. These dialogues facilitated the exchange of groundbreaking research, real-world practice, and innovative insights.

As the global push for decarbonization intensifies, the International Maritime Organization (IMO) is actively striving to establish a cohesive international regulatory framework, aiming to achieve net-zero carbon emissions for international shipping by approximately 2050. This effort gains urgency with the European Union Emissions Trading System (EU ETS) set to include the maritime sector starting June 2023, making 2025 the year when shipping companies will begin payment of the “carbon tax”.

Parallel to this, FuelEU has also come into force on January 1 of this year. The timely organization of this seminar bears practical significance in addressing the implications of the FuelEU shipping carbon tax fuel policy, fostering greener and more sustainable practices in the shipping industry, and advancing China’s strategic “dual carbon” goals.