ARTICLE
24 July 2024

FuelEU Maritime Regulation: Monitoring Plan Deadline

Ki
KPMG in Cyprus

Contributor

KPMG has been operating in Cyprus since 1948 and currently employs more than 800 professionals working from 6 offices across the island. It is a member of KPMG International Limited, a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG operates in 143 countries and territories and has approximately 273,000 people working in member firms around the world. Clients look to KPMG for a consistent standard of service based on high-order professional capabilities, industry insight, local knowledge and expertise.
FuelEU Maritime Regulation (Regulation (EU) 2023/1805) was adopted in July 2023 as part of the Commission's Fit for 55 legislative package to reduce EU greenhouse gas emissions by at least 55% by 2030.
European Union Energy and Natural Resources

FuelEU Maritime Regulation (Regulation (EU) 2023/1805) was adopted in July 2023 as part of the Commission's Fit for 55 legislative package to reduce EU greenhouse gas emissions by at least 55% by 2030. The FuelEU Maritime Regulation focuses on the shipping industry and establishes emissions-cutting targets: starting with a 2% decrease by 2025 and reaching up to an 80% reduction by 2050.

The Regulation applies to all ships of above 5 000 gross tonnage that serve the purpose of transporting passengers or cargo for commercial purposes, regardless of their flag, in respect of energy used both during the stay within a port and on voyages.

The Regulation also introduces additional zero-emission requirements for ships at berth, mandating the use of on-shore power supply or alternative zero-emission technologies in ports.

Reporting obligation: approaching deadline for monitoring plan submission

Shipping companies that fall within the scope of the FuelEU Maritime Regulation are obliged to submit:

Deadline Reporting obligation

31 August 2024

a monitoring plan to verifiers (special entities accredited by Cyprus Shipping Deputy Ministry) for each of their ships to monitor and report the amount, type and emission factor of energy used on-board by ships and other relevant information

1 January 2025

annual reports (based on the verified monitoring plan) for verification pertaining to information monitored and recorded for each ship arriving at or departing from a port of call and for each voyage


The monitoring plan shall contain, in particular, details of the company and the ship, a description of the energy conversion systems installed on board and the related power capacity, the value of the established total electrical power demand of the ship at berth, a description of the intended sources of energy to be used on board while in navigation and at berth, etc.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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