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Eastern Mediterranean Shipping Charts Uneven Course To Decarbonization

Survey Reveals Incremental Progress and Challenges

A recent survey conducted by the Hellenic Marine Environment Protection Association (HELMEPA), in collaboration with the Lloyd’s Register Foundation, highlights the Eastern Mediterranean shipping industry’s evolving commitment to reducing greenhouse gas emissions. The METAVASEA survey, which gathered 898 responses from shipping companies, seafarers, ports, suppliers, and civil society between June and November 2024, offers a nuanced view of an industry at the crossroads of tradition and transformation.

Emissions Focus and Alternative Fuels

The survey indicates that 74 percent of shipping companies have either aligned or are planning to align with the International Maritime Organization’s net-zero targets. However, emphasis remains predominantly on direct emissions, with 73 percent of respondents focusing on them, while lesser attention is given to indirect (Scope 2) and supply-chain (Scope 3) emissions, at 9 percent and 4 percent respectively. Biofuels lead as the most adopted alternative, cited by 62 percent of respondents, followed by green hydrogen (25 percent) and ammonia (19 percent).

Operational Concerns and Technological Adoption

Despite these efforts, nearly half (42 percent) of participants flagged infrastructure and compatibility issues, particularly as new technologies such as onboard carbon capture, wind and solar power, and air lubrication remain fraught with concerns over cost, vessel readiness, and safety. For seafarers, crew fatigue tops the list of safety concerns at 70 percent, even as a notable training deficit persists, with 64 percent reporting a lack of decarbonisation-related training in the past two years.

Workforce Development and Strategic Gaps

The findings reveal a dual need for technical expertise—including emissions monitoring, energy management, and handling of new fuels—alongside essential soft skills such as leadership and strategic thinking. Larger fleets demonstrate greater progress in emissions tracking and ESG strategy adoption, whereas smaller operators cite limited resources as a significant barrier.

Ports, Infrastructure, and Misaligned Public Perceptions

Ports and suppliers face their own set of challenges. Only 20 percent of ports currently offer VLSFO bunkering, even as the Mediterranean prepares for its designation as a SOx Emission Control Area in May 2025. With 40 percent of ports lacking decarbonisation interventions and 60 percent missing emissions monitoring systems, infrastructure gaps remain a significant hurdle. Meanwhile, public perceptions are at odds with reality—many erroneously estimate that shipping accounts for 50–70 percent of global greenhouse gas emissions, compared to an actual figure closer to 3 percent.

A Roadmap For Sustained Green Transition

The METAVASEA project, running from 2023 until 2027, aims to map the skills and infrastructure necessary for a successful green transition in this strategically vital region. With a network that includes six core partners, twelve associates, and over sixty stakeholders, the project intends to track ongoing trends and training needs, providing a critical framework for future progress in decarbonization.

Cyprus Fuel Prices Expected To Rise As Oil Prices Increase

International Oil Market Dynamics

Fuel prices in Cyprus are expected to rise gradually in the coming weeks as international crude oil prices continue to increase. Recent reports show that heavy crude prices moved from about $93 per barrel to a peak of $117 before settling near $107, reflecting continued volatility in global energy markets.

Projected Retail Impact And Stage-Wise Price Adjustments

Sabbas Prokopiou, president of the Pan-Cypriot Fuel Stations Owners Association, said these international price movements are expected to gradually affect retail fuel prices in Cyprus. A recent increase of around two cents per litre has already been recorded. Additional price adjustments may follow in the coming weeks as international fuel costs pass through the supply chain and reach the retail market.

Geopolitical Tensions And Market Reactions

Geopolitical developments have also contributed to recent price movements. Concerns about potential regional conflict initially pushed crude prices higher. In a single trading session, prices reportedly rose by about $10 per barrel. More recently, attacks targeting oil storage facilities have added further pressure to international crude markets.

Strategic Outlook And Industry Insights

Prokopiou said further increases in fuel prices remain possible depending on developments in international oil markets. However, he noted that estimating the scale of retail price adjustments remains difficult during periods of geopolitical uncertainty. Similar market patterns were observed in 2022 following the start of the Russia-Ukraine war, when international crude prices rose sharply.

Market participants, including fuel importers and the Consumer Protection Service of the Ministry of Energy, Commerce and Industry, continue to monitor developments in international energy markets.

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