Study: Maritime EU ETS – Shipping’s contribution and national revenues

New study reveals ETS revenues per country breaking down shipping's EUR 9 billion contribution

A new study by European Shipowners | ECSA quantifies for the first time how much shipping contributes to each EU member state's ETS revenues - making the case for reinvesting those funds in the clean fuels and technologies the sector needs for the energy transition.

Shipping has been included in the EU ETS since 2024 with a short phase-in period and with zero free allowances. Shipping is estimated to contribute around EUR 9 billion a year to EU and Member States' revenues under a scenario with the carbon price at EUR 100 per tonne CO2. Even in a lower price scenario of EUR 85, the sector brings in a significantly high EUR 7.65 billion annually.

The study reveals a breakdown of the shipping's contribution to the national budget of each Member State. In total, shipping brings in national revenues of EUR 7.7 billion under the EUR 100 scenario and EUR 6.6 billion under the EUR 85 scenario - without counting the EU revenues.

Yet, these revenues are not reinvested in the sector's energy transition - currently with certain exceptions. According to the Commission's 2025 Carbon Market Report, Member States spent around 5% of their total ETS revenues on the energy transition of the economy.

Sustainable fuels for shipping remain on average four times more expensive than conventional alternatives and investment needs for shipping in Europe alone are estimated at around EUR 40 billion annually. Against this backdrop, only a few EU Member States have so far earmarked a dedicated share of their EU ETS revenue for shipping to support the uptake of clean tech and sustainable fuels.

This investment gap shows a clear mismatch with European shipowners' investments. European shipowners already represent 44% of the global orderbook for sustainable fuel-powered ships. But Europe produces only 10% of sustainable fuels globally, with less than 5% intended for maritime use, while Asia accounts for 74% of fuel production projects. Without support to bridge that gap, fuel availability will not keep pace with fleet investment.

"European shipowners are leading global investments in sustainable fuel-powered vessels with 44% of the global orderbook, but Europe's investments in sustainable fuel availability and clean tech projects is not keeping pace," said Sotiris Raptis, Secretary General of European Shipowners | ECSA. "Our new analysis shows that shipping contributes in total up to EUR 9 billion annually. We need to see these revenues to be invested in the energy transition of the sector. The upcoming revision of the EU ETS, expected in July, is an opportunity to require Member States to use this money at national level to bridge the price gap and support sustainable fuel availability and clean tech projects."

The full study is available here.

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