OceanScore News

Switching fuels is the most frequently discussed pathway to meeting the requirements of FuelEU Maritime. However, the choices shipping companies make about bunkers will significantly impact compliance costs. Companies must navigate a complex fuel market and assess the viability of different options based on commercial, technical, and operational factors, according to maritime data and technology firm OceanScore. Fuel selection “Fuel selection is the most important lever under FuelEU,&rd...

OceanScore has launched a new planning, simulation, and budgeting tool for optimising compliance with FuelEU Maritime from a commercial standpoint. Its FuelEU Planner is the first in a suite of solutions geared to supporting complex decision-making processes with the upcoming regulation. FuelEU Planner The company unveiled the FuelEU Planner at a launch event for more than 150 clients and stakeholders in Hamburg this week, coinciding with the SMM conference and exhibition, where FuelEU Mariti...

OceanScore, the global provider of data and compliance management solutions for the maritime industry, has successfully closed an oversubscribed €5 million Series A financing round. The influx of new capital will enable the company to further develop its solutions portfolio and expand its global footprint. Financing round The financing round included significant contributions from existing investor theDOCK and new investors such as Stolt Ventures, Motion Ventures, and Portline, along wit...

OceanScore has opened a new office in Singapore that will enable it to better serve regional clients as the company sees rising Asian demand for its digital solutions geared towards efficient regulatory compliance with the EU ETS and FuelEU Maritime. “Our list of global clients is growing steadily in line with the industry’s pressing need to navigate the complexities of these new regulations,” says OceanScore’s Managing Director Albrecht Grell. The new locale "Establis...

Validation of voyage emissions data and contractual arrangements for allocation of EU ETS costs remain key challenges for Greek shipowners as they face an estimated total €335m bill in 2024, potentially rising to €1bn once the regulation is fully implemented, according to OceanScore. GHG emissions Some 2135 vessels owned or operated by around 400 Greek shipping companies are presently racking up liabilities under the EU Emissions Trading System (EU ETS) that will require them to surr...

Many shipping companies are still striving to define their strategy for EU ETS compliance some 90 days after implementation of the complex regulation, according to OceanScore, as it leverages lessons learned from clients to date to define best practices. EU Allowances (EUAs) Shipowners are required to acquire and account for EU Allowances (EUAs) on an ongoing basis, as well as allocate these to charterers, to cover the cost of their emissions from 2024 under the initial three-year phase-in of...