Digital solutions provider zero44 has launched a new solution to comply with the upcoming FuelEU Maritime (FEUM) regulation, the second major EU regulation for shipping decarbonisation.
The goal is to promote sustainable fuels and help companies stay within the allowed GHG levels to avoid increasing penalties.
The new software helps ship owners, ship managers and charterers to find an optimal compliance strategy for FuelEU Maritime. It can be used individually or in combination with zero44’s software modules for EU ETS and CII compliance and is therefore also able to identify an overall superior strategy that takes into account CII, EU ETS and FuelEU effects.
The FuelEU Maritime product utilises the proven zero44 data model. This model uses historical ship performance data and machine learning to predict future consumption and emissions and evaluate different fuel options.
Users can then compare all options in the zero44 dashboard: the amount of possible penalty payment, alternative biofuel costs, pooling options and other alternatives. If pooling is a sensible strategy, zero44 also offers a pooling marketplace between its customers and third parties.
zero44 will present the first version of its FuelEU Maritime product at SMM Hamburg on 4 September. Companies can book the product individually or in combination with zero44’s proven product modules for EU ETS and CII compliance.
READ: Bearing AI unveils EU ETS compliance solution
Friederike Hesse, Co-Founder and Managing Director of zero44, said: “Some players in our industry are currently giving the impression that pooling is the best way to achieve FuelEU compliance.
“This is far too short-sighted and does not do justice to the complexity of FuelEU Maritime and the volatility of the market environment.
“Instead, the goal must be for every shipping company, every ship manager and every charterer to have a full overview of all economic parameters at all times.
“Only on this basis can truly informed decisions be made – and whether these ultimately fall in favour of pooling, penalty payments or another method will always change depending on the context.”
Earlier this year, zero44 and Veracity, the independent maritime cloud platform from DNV, announced a partnership to jointly support their customers with the EU Emission Trading System (EU ETS).
