Cyprus Shipping Chamber welcomes the agreement on the FuelEU Maritime Regulation as an essential development for the green transition of Shipping

The Cyprus Shipping Chamber welcomes the provisional agreement reached on 23 March 2023 between the EU Parliament and the EU Council on FuelEU Maritime. This agreement is another positive step towards establishing the right conditions for the energy transition of shipping.

The agreement gives a strong political signal and provides clear climate targets and guidance for the industry with regards to the fuels that may be used towards the energy transition of the sector. In order to meet these targets, it is essential for the Regulation to foster the production of clean fuels and gives a more central role to fuel suppliers for the first time. The Chamber always supported the important role of the fuel suppliers as a necessity towards the success of the FuelEU regulation.

However, more robust requirements for fuel suppliers to deliver the required clean fuels are now needed. We therefore urge the EU regulators to support binding targets on suppliers for clean marine fuels in the revised Renewable Energy Directive (RED).

It is necessary to secure dedicated maritime clean and safe fuels at EU ports to safeguard the uninterrupted flow of supplies and the sustainability of shipping SMEs.