In a bid to enhance transparency in the compliance market, Nordic energy company Gasum Oy, a leading FuelEU Maritime pooling service provider in Europe, has begun publishing a daily price for FuelEU Maritime compliance units on its website. The quoted price is not an index but Gasum’s actual selling price per tonne of carbon dioxide emitted.
With this move, Gasum says that it wants to enhance transparency in the evolving regulation compliance market.
We at Gasum believe a more transparent and standardised FuelEU Maritime compliance market is needed to support shipping companies in making the right decisions. For us, pooling is about trust and pricing transparency is key in increasing the trust we know our customers have in us, said Jacob Granqvist, VP, Maritime, Gasum.
The daily price of FuelEU Maritime compliance units is now available on Gasum’s website and applies to volumes of 500 tonnes of carbon dioxide equivalents (CO2eq) and above.
Shouldering the regulatory risk
Gasum generates regulation compliance by running several designated vessels on waste-based bioLNG within its pool.
Using bioLNG as fuel generates generous amounts of compliance, as bioLNG produces, on average, 90 percent lower emissions compared to traditional fuels such as marine gasoil (MGO).
Depending on the feedstock used for producing the bioLNG, the emissions can even be negative.
According to Gasum, its FuelEU Maritime pooling service is uniquely reliable, since Gasum always provides the needed amount of bioLNG into the pool.
Gasum takes full contractual responsibility for the pool’s balance, meaning that customers can transfer all regulation-related risk to Gasum.
