Wilhelmsen Ship Management (WSM) and Affinity Shipping have signed a Memorandum of Understanding (MOU) to jointly establish an independent company that will provide comprehensive compliance services related to the EU ETS (European Union Emission Trading System).
The company’s offering will be the first of its kind, offering a complete outsourcing service for shipping ETS management. The service integrates technical ship management and carbon allowance procurement to support shipowners, managers, and operators in the new era of emissions compliance. Following the agreement in December among EU negotiators to include maritime shipping in the EU ETS, ship owners and operators will need to acquire emission permits for 40% of their applicable emissions in 2024, increasing to 70% in 2025, and 100% in 2026 and every year thereafter.
WSM brings technical management expertise to the table, including verification of emissions reports and compliance with the existing EU Monitoring, Reporting and Verification (MRV) framework, while Affinity brings experience in the sale and purchase of carbon products, EU Allowances (EUA) registry management, analysis of ETS exposure, and regulated advice on emissions markets.
WSM is the ship management arm of the Wilhelmsen group and one of the industry’s largest third-party ship managers with the most extensive global maritime network. Affinity Shipping has had a carbon desk since 2018 and provides client-specific regulated advice and agency broker services for carbon emissions management. The new joint venture company will be based in Oslo, Norway.
