Greek shipowners have welcomed that charterers may have to carry some of the carbon cost of ships trading in the European Union.

In a considerable concession to the maritime industry, EU regulators acknowledged that charterers may become liable for carbon allowances, as the bloc includes shipping in its cap-and-trade Emissions Trading System (ETS).

“In line with the polluter-pays principle, the shipping company could, by means of a contractual arrangement, hold the entity that is directly responsible for the decisions affecting the CO2 emissions of the ship accountable for the compliance costs under this directive,” the draft EU legislation, unveiled by the European Commission on Wednesday, said.