Welcome to this week’s newsletter! In today's edition, we break down the key dates
and requirements for FuelEU to help you stay on track with the FuelEU compliance timeline.
Monitoring Plan Submission
Deadline: 31 August 2024
The ISM company must submit a monitoring plan for each vessel. The monitoring
plan must outline the chosen method for monitoring and reporting emissions. In case
a ship is subject to FuelEU Maritime after 31 August 2024, a monitoring plan must be
submitted to the verifier no later than two months after the first port call at a port
falling under the regulation’s scope.
Recording Data
Period: 1 January to 31 December 2025
Throughout the operational year of 2025, companies are required to record EU MRV
(Monitoring, Reporting, and Verification) data in line with the submitted monitoring
plan. This includes but is not limited to detailed documentation of fuel usage,
emissions, and distance traveled for each vessel.
Data Submission
Deadline: 31 January 2026
The recorded EU MRV data for the operational year must be submitted to the verifier
by the end of January 2026. Note that if a ship changes the ISM company
throughout the operational year, the transferring company must submit the partial
data to the verifier who must verify the data and record it in the FuelEU database
within one month.
Data Verification
Deadline: 31 March 2026
By the end of March 2026, the verifier must complete the verification process and
report the results to the company. The verified data will then be recorded in the
FuelEU database. This data includes but is not limited to the ship’s compliance
balance and GHG intensity.
Compliance Mechanism Reporting
Deadline: 30 April 2026
After receiving approval from the verifier, companies must report their utilization of
compliance mechanisms such as banking, borrowing, or pooling in the FuelEU
database by the end of April 2026. Effective use of these mechanisms can provide
flexibility and cost savings while ensuring compliance with FuelEU regulations.
Compliance Penalty Notification
Date: 1 June 2026
On this date, responsible authorities (the administering state) will inform companies
of any applicable penalties that must be paid.
Penalty Payment and Document of Compliance (DoC) Issuance
Deadline: 30 June 2026
By the end of June 2026, any outstanding penalties must be paid and a Document of
Compliance (DoC) is issued.
Why is it Important to Keep on Track with FuelEU and closely follow the FuelEU compliance timeline?
Compliance with FuelEU regulations is not just a regulatory requirement but also a commercial risk. The penalties for non-compliance can be enormous (see previous case study), the commercial as well as legal alignment of stakeholders is demanding, and choosing the most cost-effective compliance option is not straight forward. BetterSea’s FuelEU Marketplace can help you navigate these challenges in a seamless end-to-end solution.
Stay tuned for our next newsletter! Feel free to reach out if you have any further questions or need additional information.
Best regards,
The BetterSea Team
Contact Us: info@bettersea.tech
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