EU ETS carbon prices rise, increasing shipping costs

The European Union Emissions Trading System (EU ETS) is seeing an upward trend in carbon allowance prices, increasing compliance costs for the shipping industry. According to an analysis by Intermodal, the market for European Union Allowances (EUAs) maintained positive momentum through August, despite typical seasonal decreases in liquidity.

December 2026 futures contracts averaged approximately 82.36 euros per tonne in August, with recent figures reaching 83.30 euros, roughly 6.5% higher than the 2026 average. This price rise is significant for shipping companies as they integrate into the system. By 2026, companies must surrender allowances corresponding to 70% of their verified 2025 emissions, moving toward 100% coverage by 2027.

Rising natural gas prices on the Dutch TTF market, driven by geopolitical tensions and supply concerns from Qatar, are also contributing to the increased cost of carbon.