DNV has unveiled an upgrade to its emissions data verification and data management platform, Emissions Connect, which will enable the maritime sector to handle the commercial challenges and risks that come with the implementation of FuelEU Maritime. The update comes at a crucial time as the industry is grappling with the requirements that take effect from 1 January 2025.
Emissions Connect was first launched in 2023 to support the industry with the operational impact of multiple regulatory requirements and decarbonization trajectories. Specifically it helps the industry manage and control Carbon Intensity Indicator (CII) performance, manage the commercial obligations arising from the European Union’s (EU’s) Emissions Trading System (ETS) and now also the implicatons of FuelEU Maritime.
Pål Lande, Product Line Director, DNV Maritime said: “The introduction of new regulation to drive decarbonization is creating a complex environment for organizations across the shipping sector. To assist companies in dealing with this change, we are pleased to be offering a solution that will help them manage the commercial impact of these new rules and collaborate across the supply chain. Accurate and verified data is crucial to instil trust and ensure effective collaboration within this complex environment.”
FuelEU Maritime sets limits on the greenhouse gas (GHG) intensity of fuels used by ships calling at EU ports and progressively reduces these levels towards 2050. The regulation covers well-to-wake emissions from the entire fuel life cycle and requires ship managers to submit a monitoring plan, report emissions data annually and have their compliance balance verified. GHG intensity which is too high can lead to a negative balance, which, if not compensated in a pool with other ships, will trigger a penalty that the shipping company must pay to the national authorities.
To manage these challenges, the new update allows users to:
- Gain an overview of the GHG intensity of vessels in a fleet, the cumulative compliance balance and penalty cost per vessel, where applicable
- Evaluate different vessel pool set-ups by creating different fleets to explore the most suitable options for FuelEU Maritime management
- Track an individual ship’s performance by viewing basic vessel data, information on the GHG intensity of energy within the scope of FuelEU Maritime, and the compliance balance and corresponding penalty cost, if applicable
- Create verified emissions statements on voyage and custom period level
Built on the Veracity Data Workbench that supports customers with a strong emissions data management solution, Emissions Connect offers a high-quality emissions data baseline that is digitally verified.
High-quality emissions data provided by the shipowner is verified by DNV and shared with customers for self-service in settlement of transactions or other purposes such as reporting, exporting and secure sharing with partners and third parties, including banks and insurance companies adhering to the Poseidon Principles.