There are a few main legislative developments in 2025 which will have an impact on the shipping industry.
(1) EU emissions trading scheme (ETS): The scope of the EU ETS has now been expanded to include offshore vessels over 5,000 GT which call at EU ports. The emissions data for 2024 must be reported on and verified by an accredited verifier by 31 March 2025. The number of EUAs required to cover 2024 emissions must be submitted by shipowners and operators by 30 September 2025.
(2) Fuel EU Maritime Regulation (FUEM): From 1 January 2025, all ships over 5,000 GT which call at EU ports are subject to the FUEM regardless of their flag state and data on greenhouse gas (GHG) emissions from these vessels must be recorded. Shipowners and operators will need to calculate the annual GHG intensity of the energy they use which should not exceed the limits set by the regulation and reduce the GHG emissions from eligible ships incrementally as against the baseline set out in the regulation.
(3) The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (HK Convention): The HK Convention will enter into force on 26 June 2025 and will apply to any ship that is flagged in and any recycling yard which is located in a state which has ratified the HK Convention. New ships contracted for construction on or after 26 June 2025 will need to meet the HK Convention requirements upon delivery and ships in service will be required to comply with the HK Convention requirements by 26 June 2030 or before going to recycling (if earlier).
(4) The UK Economic Crime and Corporate Transparency Act 2023 (ECCTA): The UK’s new failure to prevent fraud offence (FTPF Offence) under the ECCTA will come into force on 1 November 2025: Non-UK companies with a UK nexus will need to consider how the new FTPF Offence applies to them and put in place appropriate anti-fraud procedures to manage the relevant risks as non-UK companies may be more likely to be caught by the ECCTA than by the UK Bribery Act.
NRF’s fuller summary of what is on the horizon for 2025 for the shipping industry (which includes commentaries on sustainable and transition finance, carbon capture and storage as well as AI) can be found here.
