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

Canada 469 China 2894 Corp - Shipping 936 ESG 59 European Union 772 Materials - Metals/Mining 708 Metals - Aluminum 227 Metals - Steel 480 Mode - Containerized 1424 Mode - Seaborne 1760 Russia 99 Tariffs 1768 U.S. 5193 United Kingdom 339

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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