EU proposals to add CO2 emissions costs and taxes to conventional marine fuel prices starting in 2023 could reduce Europe's residual fuel oil demand for bunkering and drive up exports. The EU proposal would fold marine fuel emissions into its Emissions Trading Scheme (ETS) by auctioning 20pc of CO2 emissions in 2023, increasing each year through 2026 to 100pc of CO2 emissions. The proposal applies to 100pc of the fuel burned on voyages between EU ports and to 50pc of the fuel oil burned on of voyages between EU and non-EU ports. Another EU proposal calls for a minimum tax on residual fuel oil for bunkering starting ... (full story)