“Fit for 55” brings higher costs, continued uncertainty for supply chains — Panjiva
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“Fit for 55” brings higher costs, continued uncertainty for supply chains

Canada 504 China 3000 Corp - Shipping 992 ESG 61 European Union 845 Materials - Metals/Mining 767 Metals - Aluminum 257 Metals - Steel 529 Mode - Containerized 1490 Mode - Seaborne 1819 Russia 122 Tariffs 1819 U.S. 5348 United Kingdom 377

The European Union’s “Fit for 55” greenhouse gas reduction package brings stricter targets and likely increased costs for supply chains once it enters law over the next two years. In logistics the maritime shipping industry will be included in the EU emission trading scheme for the first time. The cost of carbon permits rose by 40.6% during Q2’21 to reach a record 55.4 euros per ton ($65.6) at June 30 while global container shipping costs have increased by 53.7% over the same period. On the basis of the imposition of stricter sulfur emission rules in early 2020 it’s likely that carbon co...

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