the Emissions and reporting compliance

Committed to environmental sustainability in the maritime sector, we aid shipowners in meeting regulatory obligations. Our services ensure compliance with key emissions regulations, including EU ETS, EU MRV, IMO DCS, CII, FuelEU and SEEMP II & III.

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the Emissions and reporting compliance

Committed to environmental sustainability in the maritime sector, we aid shipowners in meeting regulatory obligations. Our services ensure compliance with key emissions regulations, including EU ETS, EU MRV, IMO DCS, CII, and SEEMP II & III.

Our services

EU ETS

We assist in developing a strategy that provides either exposure to the carbon market or aid in achieving budgetary goals and cost savings. Assistance in establishing an EU Registry Account, Market information and Insights into EUA prices and decision-making support

In a significant move towards a greener future, the European Union has expanded its Emissions Trading System (EU ETS) to include maritime transport emissions, effective from 2024. This extension aligns with the EU’s commitment to reducing greenhouse gas emissions and combating climate change.

  • The EU ETS operates on a ‘cap-and-trade’ mechanism, setting a yearly cap on the total greenhouse gas emissions allowable for covered operators. This cap reduces annually, in line with the EU’s climate targets, with the overarching objective of achieving a 62% reduction in emissions from 2005 to 2030.
  • Operators are allocated emission allowances, each representing the right to emit one ton of carbon dioxide equivalent (CO2eq). If a company exceeds its allowances, it faces heavy fines. These allowances can be bought and sold through auctions and secondary markets, providing flexibility for companies to reduce emissions in a cost-effective manner.

EU MRV

Trust us to guide you through the EU MRV requirements effortlessly. We offer tailored solutions to monitor and report your vessel's CO2 emissions, ensuring compliance with the European Union's rigorous standards.

The EU MRV regulation, initiated in 2017, mandates the monitoring, reporting, and verification of emissions data from ships, specifically those with a gross tonnage (GT) of 5,000 or more on EU-related voyages. This regulation is a significant step in addressing greenhouse gas emissions in the maritime sector and is part of broader efforts to promote environmental sustainability in the industry.

Key Applicability Criteria:

  1. Ship Size: Vessels with a GT of 5,000 or more, including container ships, tankers, and passenger vessels, must comply with the EU MRV regulation.
  2. EU Ports: The regulation applies to ships calling at EU ports, including overseas territories, regardless of flag or ownership.
  3. Voyages: All voyages to or from EU ports are subject to monitoring and reporting, ensuring comprehensive data collection on emissions from ship operations.

IMO DCS

Navigate the International Maritime Organization's Data Collection System with ease by partnering with us. Our services cover the complete process, from data collection to reporting, ensuring that your operations align with global environmental regulations.

IMO DCS is an International Maritime Organization (IMO) regulation that mandates the collection and reporting of fuel consumption data from ships over 5,000 gross tons.

  • The IMO DCS is a global initiative to enhance transparency and promote energy efficiency in the shipping industry. It requires ships to collect and report data on their fuel consumption and other relevant information.
  • The DCP must be created within the Part II of the Ship Energy Efficiency Management Plan (SEEMP) and be available on-board the vessel.
  • Shipowners and operators are responsible for monitoring fuel consumption through various means, such as flow meters or bunker delivery notes. This data is then reported to the ship’s flag state, which in turn reports to the IMO.
  • By implementing the IMO DCS, the maritime industry is taking a significant step towards reducing greenhouse gas emissions, fostering sustainable practices, and encouraging the development of more energy-efficient ships.

CII

Stay ahead in the maritime industry by understanding and complying with the Carbon Intensity Indicator requirements. Varuna Marine Services BV provides strategic support to measure and report your vessel's carbon intensity, fostering sustainability in your operations.

The Carbon Intensity Indicator (CII) is a powerful metric designed to assess and quantify the environmental efficiency of ships in the maritime industry. It plays a crucial role in the global effort to reduce greenhouse gas emissions and combat climate change.

  • At its core, the CII evaluates the amount of carbon dioxide (CO2) emissions produced by a vessel in relation to its transported cargo or tonne-mile. This measurement allows shipowners and operators to determine how efficiently their ships are utilizing energy and how environmentally sustainable their operations are.
  • The CII is a key component of the International Maritime Organization’s (IMO) broader strategy to improve energy efficiency within the shipping sector. By implementing CII standards, ships can be evaluated based on their emissions per unit of transport work, enabling comparisons and driving the adoption of eco-friendly practices.
  • The Carbon Intensity Indicator is not merely a compliance requirement; it’s a powerful tool for driving positive change in the shipping world. By focusing on improving CII scores, stakeholders can simultaneously cut costs, enhance efficiency, and play a vital role in protecting our planet for future generations. It serves as a beacon, guiding the industry toward a cleaner and more sustainable future, one ship at a time.

FuelEU

Ensure your maritime operations are future-ready by understanding and complying with the FuelEU Maritime requirements. We offers strategic support to accurately measure and effectively reduce your vessel’s fuel emissions.

FuelEU Maritime, starting in 2024, expands the EU’s Emissions Trading System (EU ETS) to include maritime transport emissions. The EU ETS operates on a ‘cap-and-trade’ basis, setting annual caps on allowable greenhouse gas emissions, which decrease yearly to meet the EU’s climate targets. The goal is a 62% reduction in emissions from 2005 levels by 2030.

  • Under FuelEU Maritime, operators are allocated emission allowances, with each allowance representing the right to emit one ton of carbon dioxide equivalent (CO2eq). Operators exceeding their allocated allowances face substantial fines.
  • The system allows for the trading of allowances through auctions and secondary markets, providing companies with flexibility to reduce emissions in a cost-effective manner.
  • FuelEU Maritime not only aims to curb emissions but also encourages innovation and efficiency within the maritime sector, promoting the adoption of cleaner fuels and technologies to achieve environmental goals

SEEMP II & III

Enhance your vessel's energy efficiency with our SEEMP II & III services. We collaborate with you to develop and implement effective energy management plans, ensuring compliance with the latest industry standards.

Ship Energy Efficiency Management Plan (SEEMP) II and III are significant advancements in the quest for a more eco-friendly maritime industry. These plans, endorsed by the International Maritime Organization (IMO), aim to enhance energy efficiency and reduce carbon emissions. While SEEMP I laid the groundwork for energy management in shipping, SEEMP II and SEEMP III represent a natural evolution towards even more eco-friendly practices.

  • SEEMP II – Enhancing Energy Efficiency: This second-generation plan builds on the foundation laid by SEEMP I. It emphasizes the importance of continuous improvement, empowering shipowners to explore innovative technologies and operational enhancements to reduce fuel consumption and emissions. SEEMP II acts as a compass, guiding vessels towards a more sustainable future

  • SEEMP III – Digitalization and Beyond:The third iteration takes the concept even further. SEEMP III encourages ship operators to embrace digitalization, data analytics, and real-time monitoring. It’s a blueprint for the future, emphasizing the use of cutting-edge technology to optimize vessel performance and minimize environmental impact.

Incorporating SEEMP II and III isn’t just about compliance; it’s about steering the course towards a greener, more efficient, and cost-effective maritime industry. These plans are key instruments in the journey towards a more sustainable and profitable future for the shipping sector.

What are EUAs?

EUAs are a type of carbon allowance that allows companies covered by the EU ETS to emit a certain amount of CO2 equivalent. One EUA entitles the holder to emit one tonne of carbon dioxide or carbon-equivalent greenhouse gas.

Trading and Pricing

EUAs can be bought and sold on the market, and the variable market price of EUAs reflects the cost of reducing emissions. The total number of allowances is limited, ensuring that they have a value.

Acquisition

EUAs can be acquired in several ways including through auctions in the primary market, or trading in the secondary market. Companies need to register with the European Commission to participate in these auctions.

Banking and Future Use

It is possible to bank EUAs for use in future years. This can be useful if a company expects to have higher emissions in the future and wants to ensure it has sufficient allowances to offset those emissions.

Regulation

The EU regulates the availability of allowances. During periods with large amounts of EUAs in circulation, the volume made available through auctions are reduced and the EUAs are put into a market stability reserve (MSR). Similarly, when there is a shortage of EUAs, more can be released from the MSR to ensure a stable price.

Goal

The EU Allowances are connected to the EU’s goal of achieving climate neutrality in the EU by 2050 and a 55% reduction in greenhouse gas emissions by 2030.

Tailored Guidance on EUAs

Smart Compliance at a Single Click

Varuna Marine Services B.V. holds a EUA (European Union Allowances) trading licence and have access to Primary market auctions.

We can provide tailor made contracts for EUA procurement and transfer to your MOHA accounts.

Since EUA are allocated via a bidding process we can tailor the size of the bid and value depending on our terms of engagement.

EUAs owed are automatically calculated on voyage, vessel, and fleet levels.

The calculation of applicable EUAs on a voyage basis is covered via our automated dashboard. This dashboard logs all vessel events and fuel consumption, applies the rules of EUETS and EUMRV, and generates net CO2 emission and applicable EUA for a given voyage.

Download Voyage based emission and EUA report right from the Dashboard.  There is an option to get a verified report from a partner verifier for a fee, if needed. The generated report can also be submitted to any verifier of choice.

Varuna Marine Services B.V. can arrange an online demo at your convenience to review the system in place and discuss specific needs and tailoring requirements.

To request a demo, email us at: [email protected] 

Why Choose Varuna Marine Services B.V.?

At Varuna Marine Services B.V., our seasoned professionals boast a deep understanding of the maritime industry, environmental regulations, and compliance intricacies. We specialize in guiding you through EU MRV, IMO DCS, CII, SEEMP II & III, offering an integrated solution for simplified compliance. Count on our unwavering commitment to provide exceptional support, ensuring the seamless operation of your maritime activities while navigating environmental regulations effortlessly.

We provide Voyage optimization which is built on NAPA API allowing you to get the best in class voyage optimization for your vessels. Optimization takes into account vessel specific feature and weather pattern to advise best fuel efficient route for your planned voyages. Waypoints suggested are ECDIS compatible.

We are Integrated with DNV veracity platform – so are able to provide data DNV for verification and emission report generation seamlessly upon getting your consent.

Our comprehensive scope of services includes:

  • Setting up EU Registry Accounts
  • EUA price perspective and decision support
  • Data collection through automated API integration and traditional methods
  • Access to an Emission dashboard for continuous Fleet-wide KPI overview
  • CII initial verification and update
  • SEEMP II and SEEMP III approval
  • EU MRV and IMO DCS compliance with SOC issued by Partner Classification Societies
  • Emission data analytics for various business scenarios and additional support for EU ETS scenario planning
  • Acting as a single point of contact for all compliance and verification needs
  • Procurement and Management of Carbon Credits (EUAs): Understanding the complexities of the carbon credit market, we offer services to assist you in acquiring and management of carbon credits on a voyage basis. 
  • Our team will guide you through the process, ensuring a smooth and compliant transaction without going through the complicated process of registration and approval for EUA trading.

For compliance with emissions and reporting requirements

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