The European Union’s Emissions Trading System is complex, it is not built for shipping and some of its rules are not even finalised yet.

So shipping’s entry into the scheme on 1 January this year is seen as an opportunity for third-party ship managers aiming to help their shipowner customers navigate the maze.

Among the technical managers focused on the emissions business is Singapore’s Synergy Marine, whose Azolla decarbonisation arm teamed up with carbon trading house Vertis Environmental Finance last month.