Emissions compliance specialist EmissionLink on Friday (11 September) has warned shipowners and operators that waiting until September to secure and transfer EU Allowances (EUAs) is creating unnecessary financial, commercial and compliance risk as the EU Emissions Trading System (EU ETS) enters its next phase. Philippos Ioulianou, Managing Director of EmissionLink , said: “The problem is not the September deadline itself, but the industry’s habit of waiting until the last possible moment. This can push critical funding and compliance decisions to the brink and leave owners, managers and compliance providers carrying significant exposure.” Following the first FuelEU Maritime compliance cycle, operators must also surrender EUAs covering their verified emissions before the end of September. However, EmissionLink said current practices between owners, charterers, managers and intermediaries can leave significant exposure unresolved until shortly before the deadline. Many charter parties, including those incorporating BIMCO emissions trading provisions, allow charterers to transfer EUAs relatively close to the surrender date. While commercially flexible, EmissionLink said this can leave the party responsible for compliance exposed if allowances arrive late or are not transferred at all. “Owners may be reluctant to buy allowances because the charterer is contractually liable, while charterers may delay because the contract permits them to”, added Mr Ioulianou. “In the meantime, the company responsible for compliance remains accountable to the regulator so that mismatch creates avoidable market risk.” The issue is becoming increasingly significant as the EU ETS phase-in accelerates. The scheme covered 40% of shipping’s verified emissions for 2024, rising to 70% for 2025 and 100% for 2026. EmissionLink recommends verified emissions reports should therefore be treated as an early financial risk indicator rather than simply part of an annual administrative process. Once verif