Outlook 2024: Freight sector grapples with regulations and geopolitics
EU ETS extension is the latest change for the sector
Freight is a vital but often overlooked component of the oil and product markets. The sector will be subject to additional EU emissions regulation from the start of 2024, while continuing to grapple with the ongoing rerouting of the global energy trade. And with so many significant energy exporting nations under Western sanctions, the shipping industry is central in both the enforcement and attempted evasion of those rules. In January, the EU will extend its emissions trading system (EU ETS) to cover the CO₂ emitted by “all large ships”—specifically vessels with a gross tonnage of 5,000t or more, which includes all classes of tankers—“entering EU ports, regardless of the flag they fly”. The
Also in this section
2 April 2025
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
2 April 2025
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
