The Finnish-Swedish ferry line operating the Umeå-Vaasa crossing has entrusted Gasum Portfolio Services to manage its EU Allowances (EUA) within the EU Emissions Trading System (EU ETS).

Pekka Montola, Sales Manager at Gasum Maritime, said:

We are very happy to offer our expertise in the emissions trading market to our long-time customer, Wasaline. Gasum Portfolio Services has been operating in the emissions trading market since it was first established. Wasaline is our first maritime customer, but as the whole sector faces a new situation in a volatile market, the demand for our services is on the rise.

He furthered:

Since the volume of emissions marine traffic generates can get quite high, this means that the costs of allowances are also significant. Gasum Portfolio Services allows our customers to predict and budget the costs of the allowances and to aim for maximum cost-effectiveness.

Peter Ståhlberg, Managing Director of Wasaline, added:

We are happy to continue our good cooperation with Gasum, now also having them manage our ETS allowances. We have been working with Gasum already regarding the purchase of LNG [liquefied natural gas] and biogas, and that partnership has been very smooth.

In 2025, shipping companies will have to report and surrender EUAs for 40% of their 2024 emissions (cargo & passenger vessels above gross tonnage of 5,000). In 2026, the amount will increase to 70% of their 2025 emissions. From 2027 onwards, they will need to report and surrender allowances for all of their emissions.

Photo: Wasaline