{"id":81787,"date":"2024-10-21T00:00:00","date_gmt":"2024-10-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/21\/how-the-european-ets-tax-can-transform-egyptian-ports-into-global-transit-hubs\/"},"modified":"2024-10-21T00:00:00","modified_gmt":"2024-10-21T00:00:00","slug":"how-the-european-ets-tax-can-transform-egyptian-ports-into-global-transit-hubs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/21\/how-the-european-ets-tax-can-transform-egyptian-ports-into-global-transit-hubs\/","title":{"rendered":"How the European ETS tax can transform Egyptian ports into global transit hubs"},"content":{"rendered":"

The European Union's Emissions Trading System (ETS) is a cornerstone of the EU's <\/strong>climate change policy, aiming to efficiently reduce greenhouse gas emissions.<\/strong> Kicking off in January 2024, the ETS will require shipping companies to purchase allowances for their CO2 emissions. The inclusion of the maritime sector in the ETS tax scheme is a game-changer for global trade, particularly for countries like Egypt. <\/p>\n

ETS includes a specific regulation for shipping emissions affecting vessels that come within a 300-nautical-mile radius from EU territory.<\/strong> Dubbed the \u201cMRV\u201d (Monitoring, Reporting, and Verification) regulation, it applies to ships that start or end their voyage near the <\/p>\n

EU, even if they don\u2019t operate directly between EU ports. <\/p>\n

While it poses challenges for European shipping lines, it presents unprecedented opportunities for Egyptian ports.<\/strong> By leveraging their strategic location, cost advantages, and advanced facilities, Egyptian ports can emerge as key transit hubs for major liner operators.<\/p>\n

Read more about the new regulation and its ripple effect on global trade <\/strong>here (pdf)<\/a><\/strong>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The inclusion of the maritime sector in the ETS tax scheme is a game-changer for global trade, particularly for countries like Egypt<\/p>\n","protected":false},"author":1,"featured_media":81788,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[273],"tags":[306,49,272],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-message-from-transmar","tag-a-message-from-transmar","tag-egypt","tag-transmar","wpautop","entry"],"acf":{"mongo_id":"9f7eba12-7ed4-45bb-8acb-222d966faace","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1206.jpg","photo_position":"above","homepage_title":"","full_issue_title":"How 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