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Gasum’s Maritime Pooling Service makes adapting to the new EU regulation simple and cost-effective
Gasum’s Pooling Service allows shipowners to adapt to the new EU regulation even when they don’t have a possibility to update their technology or use alternative fuels to lower their emissions. The pooling service starting at the beginning of 2025 is available for all shipowners with vessels calling at European ports.
Gasum’s new pooling service for shipowners is a cost-effective way to adapt to the upcoming maritime regulations set by the EU.
The FuelEU Maritime regulation will come into effect in 2025. The regulation aims to reduce greenhouse gas emissions in the maritime sector by promoting the use of renewable and low-carbon fuels. In 2025 the amount of the carbon intensity reduction will be two percent. The reduction percentage will increase progressively reaching 80 % in 2050. Companies that are not compliant will be fined according to their GHG emissions.
However, many shipowners are faced with uncertainty regarding their fleets’ lifespan and their vessels’ ability to utilise alternative fuels. In addition, the amount of biofuels and biofuel bunker locations available are still limited.
With Gasum’s pooling services these worries can be forgotten.
Gasum’s pooling service is based on overcompliance. The pool’s compliance generators are vessels that already can reduce their emissions more than the regulation requires. Their surplus reductions are used to compensate emissions from vessels who have joined the pool as off-takers.
“In short, a pooling service means that those shipowners who have the means and the capacity to reduce emissions, can do it also for those who don’t. This benefits everyone: the generators, the off-takers and the climate,” says Jani Arala, Solution Lead for Gasum’s Sustainable Solutions.
Wasaline and Viking Line to act as compliance generators in Gasum’s pool
Gasum’s role is to supply fuel to the pool’s compliance generators and to coordinate the pool to maintain its balance. It is crucial that the generators of the pool reduce enough emissions to ensure the compliance of the off-takers.
“The pool can be overcompliant but not undercompliant. Our task is to calculate how much emissions the generators need to reduce to maintain that balance,” Arala explains.
At present, Gasum has signed Letters of Intent with two Finnish shipping companies, Wasaline and Viking Line. Their vessels, powered by LNG and bio-LNG, will serve as generators in Gasum’s pool.
The pooling service is available for all shipowners
Arala reminds that in 2025, all shipowners whose vessels call at European ports have to either comply with the regulation or pay the fines. If a shipowner wants to add one or more of its vessels to a pool, now is the time to act.
“Joining a pool as an off-taker is more cost-effective than paying the fines. However, if a shipowner joins a pool too late, there is a possibility that there isn’t enough time for the pool’s generators to compensate for the cumulated emissions. The capacity of our pooling service is significant and scalable but it still has its limits.”
Gasum’s pooling service will start in the beginning of 2025. It is suitable for shipping companies from all over the world. Vessels calling at European ports must adhere to the new regulations and thus can benefit from the pooling service.
“I am very glad that the EU proposed pooling as a solution to reach the desired emission reductions. A ship’s lifespan is decades and it isn’t feasible, for example, to modify vessels that are in the latter part of their lifespan to adhere to regulations.”
Contact us today to learn how Gasum can help your fleet achieve compliance!
