A new study by the European Community Shipowners’ Associations (ECSA) has, for the first time, quantified the revenues that shipping contributes to the national budgets of European Union member states through the EU Emissions Trading System (ETS).
The study provides a detailed breakdown of shipping’s contribution to the national budgets of each member state. It estimates that the sector generates around 9 billion euros annually in revenues for the European Union and its member states under a carbon price scenario of 100 euros per tonne of CO2.
Even under a lower carbon price scenario of 85 euros per tonne of CO2, shipping would still generate substantial revenues of around 7.7 billion euros per year.
Under the 100-euro carbon price scenario, 7.7 billion euros of the total 9 billion euros would flow directly to national budgets. Under the 85-euro scenario, national governments would receive 6.6 billion euros. However, with only a few exceptions, these revenues are not being reinvested in the sector’s energy transition.
According to the European Commission’s 2025 Carbon Market Report, EU member states allocated around 5% of their total ETS revenues to support the energy transition of their economies.
European shipowners are calling for a mandatory requirement that these revenues be reinvested in projects supporting the availability of clean fuels and clean technologies to accelerate shipping’s decarbonisation.
ECSA noted that sustainable marine fuels remain, on average, four times more expensive than the conventional fuels currently used by the industry.
Investment needs for shipping’s energy transition in Europe alone are estimated at around 40 billion euros annually.
Despite this, only a limited number of member states have so far earmarked a specific share of their EU ETS revenues for the shipping sector to support the uptake of sustainable fuels.
European shipowners already account for 44% of the global orderbook for vessels capable of operating on sustainable fuels.
However, Europe produces only 10% of global sustainable fuel output, with less than 5% of that volume intended for the shipping sector, while Asia accounts for 74% of fuel production projects.
Without support to bridge this gap, fuel availability will not keep pace with the investments being made by the global fleet.
“Our latest analysis shows that shipping contributes up to 9 billion euros annually to the budgets of the European Union and its member states. These revenues should be invested in the sector’s energy transition. The upcoming review of the EU ETS, expected in July, provides an opportunity to require member states to use these funds at national level to bridge the cost gap and boost the availability of sustainable fuels and clean technology projects,” ECSA said.
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