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The network of "Truth2shipping"

Starting from January 1, 2024, the European Union’s Emissions Trading System (ETS) will introduce carbon pricing for shipping. The cost of compliance is expected to be significant and will keep increasing with the phased implementation. This will be passed on in the form of a standalone surcharge known as ‘Emissions Surcharge’ applied to all bookings on the voyage that will be subject to the EU ETS. It is possible that the new ETS cost will increase the transportation cost of goods in the EU, which could lead to higher final prices and extra costs for consumables.

It is important EU officers to understand the “Network of Steps of “Truth2Shipping"

·         No Profit – No Money: This part implies that profitability is fundamental in the shipping industry. Without profit, there's no capital or money to sustain operations, pay seafarers, maintain vessels, ships' agents, etc.

·         No Money - No Honey: This phrase - expression, often implies that without money, one cannot enjoy the benefits or 'sweet' things in life. In the context of shipping, it might mean that without financial resources, none of the benefits of the shipping industry, such as global trade, employment, and economic growth, can be realized.

·         Neither Investment, nor Development: This suggests that investment is crucial for development and growth in the shipping industry. Without investment, there can be no advancement in technology, infrastructure, or expansion of services.

·         No Shipping - No Shopping: This line is a stark reminder of how integral shipping is to the global economy. It implies that without the shipping industry, the retail and trade sectors would suffer significantly as they rely heavily on the transportation of goods.

All above mentioned steps, parts of network of "Truth2shipping", highlight the interconnectedness of profit, investment, and the crucial role of the shipping industry in facilitating global trade and economy. Without a thriving shipping sector, there are significant ripple effects on commerce, development, and the way of life, as suggested by the phrase "No Shopping." This perspective underscores the importance of a robust and healthy shipping industry for the overall functioning and prosperity of global markets.

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