Press release
Bureau Veritas releases new report on EU rules impact to shipowners
A new report by Bureau Veritas Marine & Offshore details the regulatory landscape as Member States work to integrate the EU’s Renewable Energy Directive (Directive 2023/2413) into national law.
Bureau Veritas Marine & Offshore (BV), a global leader in Testing, Inspection and Certification (TIC), has released a policy report which details the impact that the integration of the RED III Directive will have on the maritime industry as Member States continue in their efforts to transpose its provisions into national legislation.
Following significant revisions to the RED in 2023, as part of the EU’s “Fit for 55” package, Member States are required to integrate RED III objectives into national law in order to achieve the binding renewable energy targets outlined in the directive. These targets require the entire transport sector, including the maritime industry, to evidence a 29% renewable energy share by 2030, or a GHG intensity reduction of 14.5% by 2030.
The directive sets an obligation for EU countries to ensure that the combined share of advanced biofuels, biogas and Renewable Fuels of Non-Biological Origin (RFNBOs also called e-fuels), represents at least 5.5% in 2030, of which RFNBOs must make up 1%. Additionally, EU countries with maritime ports must ensure that the share of RFNBOs supplied to their national maritime transport sectors is at least 1.2% by 2030.
As RED III represents an EU directive, it is the responsibility of Member States to transpose its provisions into national law, allowing, for example, the exclusion of specific transport sectors – such as shipping – from their projected targets. As a result, RED III’s impact on the maritime sector is likely to vary considerably throughout the EU, creating a patchwork of differing compliance obligations for bunker suppliers, impacting the continued availability and cost of marine fuels.
In addition, RED III’s prescriptive support of certain sustainable fuels can create uneven signals with established regulatory frameworks, such as Fuel EU Maritime (FEUM) in some Member States. With RED III transposition, some sustainable fuels may be eligible for use in maritime operations in one European jurisdiction but not in another.
Bureau Veritas supports stakeholders in understanding and complying with the EU Renewable Energy Directive through expert regulatory analysis.
Sustainability Strategy Leader
Bureau Veritas Marine & Offshore
Shipping is facing a myriad of challenges within an increasingly volatile and uncertain global landscape. The ongoing transposition of RED III in Member States has the potential to generate a clear demand signal for sustainable fuel producers and suppliers, leading to increased availability and improved diversity for shipowners. However, the uneven transposition of the RED by Member States leads to a diverse regulatory patchwork, price uncertainty and room for bunker optimization for shipowners. As a result, it is vital that the industry works in collaboration to achieve a harmonized regulatory landscape that rewards investment whilst supporting the industry’s decarbonization efforts.
Read the report here: Bureau Veritas Marine & Offshore | Renewable Energy Directive III
