An analysis by the Estonian Ministry of Climate shows that the obligation to start buying CO2 emission allowances will have a large and negative impact on the Estonian shipping sector.Companies that fail to pass on the cost to consumers will not see profits over the coming years.
Ten Estonian shipping companies are set to be affected by the emissions trading scheme.While the relevant draft bill has only just been sent for approval in Estonia, the rules have been in place across the rest of Europe for some time.This means that ship owners will have to pay for 40 percent of emissions this year, 70 percent next year and all emissions in 2026.
Read more: ERR.EE
