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European shipping cos brace up for Monitoring, Reporting, Verification regime to meet EU carbon emission standards

The owners and operators of shipping companies with vessels exceeding 5,000 GT operating in the EU have until August 2017 to prepare plans to monitor and report their carbon emissions, fuel consumption, and associated transport work. Adopted on 1st July 2015, the Monitoring Reporting Verification (MRV) regulation will see the EU collect and make publicly available data for over 12,000 vessels visiting EU ports.

The regulation is the industry’s first step towards cutting CO2 emissions from maritime transport in the European Union (EU) and compliance is non-negotiable. Owners and operators have just seven months until the first legal deadline requiring them to submit a Monitoring Plan (MP) to a verifier. In addition, all MPs must be successfully assessed by an accredited verifier by 31st December 2017, before the start of the first monitoring period.

Close on the heels of run up to the MRV regime, emissions verification company for transport sector, Verifavia Shipping has signed a memorandum of understanding (MoU) with independent Greek ship classification society and certification organisation, INSB Class, says a release on 11th January.

 As part of the new strategic partnership, INSB Class will offer MRV services to its contracted customers by leveraging the knowledge and expertise of its trusted partner and EU MRV specialists, Verifavia Shipping Hellas. As an established independent verification company, Verifavia will utilise the tools as well as in-depth knowledge and expertise at their disposal to instil ship owners and operators with the confidence that the right systems, capabilities, and understanding are in place to efficiently achieve compliance..

Nikolas Theodorou, Managing Director, Verifavia Shipping Hellas, commented: .“Our company ethos is founded on offering an independent service grounded in accuracy, integrity, and expertise, and we take great pride in working as a trusted partner to support our customers in achieving EU MRV compliance. As such, we are extremely happy to be collaborating with a like-minded company, and that INSB has entrusted us to fulfil the MRV compliance needs of its customers. Pantelis Chinakis, President & Managing Director, INSB Class, added:

“We have every confidence in Verifavia’s MRV knowledge and expertise. Most importantly, we trust that they will endeavour to maintain our ongoing aims to deliver the highest levels of service across the board within the shipping industry, and will effectively and efficiently guide ship owners and operators on the road to EU MRV compliance.”

The EU MRV Regulation is new and unfamiliar, and as with any complex legislation, it makes sense to start upon the road to compliance early on, ensuring sufficient opportunity to identify and address any issues ahead of time. For owners and operators, the key lies in their ability to effectively interpret the requirements outlined within the regulation. Both Verifavia and INSB Class remain committed to greatly simplifying the EU MRV process – ensuring shipping companies achieve compliance in the most efficient, cost-effective and timely manner, adds the release.

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