The 2026 Green Premium: Who Pays and Who Gets Paid For Cleaner Ships – And Why
November 21, 2025
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By 2026 the green premium in shipping has turned into a real cost line that someone has to absorb. On one side, large cargo and passenger ships trading with Europe are pulled into the EU Emissions Trading System, with the share of emissions that must be covered by allowances stepping up year by year, while the FuelEU Maritime rules push down the well to wake greenhouse gas intensity of fuel on ships calling at EU ports. At the same time alternative fuels still cost significantly more than conventional bunkers, “eco” ships trade at clear charter and asset premiums, and container lines are selling branded low emission services to cargo owners who accept higher freight for verifiable CO₂ cuts. Taken together, this creates a green premium that moves around the value chain depending on ship type, contract structure and how quickly each player decarbonises.
Click for 2-minute summary of who pays and who gets paid
| Player | 2026 position | How the green premium shows up | Net effect in most cases | Key move for 2026 |
|---|---|---|---|---|
| Owners with eco or dual fuel ships | Mostly winner | Lower fuel and ETS cost per tonne mile and better CII ratings make these ships more attractive to charterers and financiers. | Higher average earnings and stronger asset values, especially on trades into regulated regions. | Focus on EU ETS-exposed and CII-sensitive routes and use measured savings to defend a rate premium in each negotiation. |
| Owners of older or inefficient tonnage | Mostly payer | Higher fuel and carbon cost, tighter CII constraints and weaker resale values create a “brown discount”. | Shorter, more volatile employment and growing pressure to upgrade, re-deploy or exit aging units. | Decide early which ships to upgrade and which to trade out, and avoid long deals that lock in high exposure to ETS and fuel prices. |
| Time charterers and operators | Depends on discipline | Often carry bunker and ETS exposure when they control speed and routing, but can sometimes load that cost into freight. | Disciplined players can break even or benefit; weaker ones effectively subsidise customers through under-priced green exposure. | Join up voyage planning, bunkers and ETS accounting so every routing choice is priced and passed through where possible. |
| Liner and logistics groups | Product winners | Pay more for cleaner fuels and compliance but bundle this into named low-emission services at a higher rate. | Capture a margin on “green lanes” where large shippers need verifiable Scope 3 reductions. | Keep a clear two-tier offer: base product on cost, premium product with certified emission cuts and simple reporting. |
| Cargo owners and brands | Visible payer | Face higher freight, surcharges or certificate costs on the trades where they ask for cleaner shipping. | Total landed cost rises modestly but can support ESG targets and brand positioning on selected routes. | Pick a small set of priority trades to green first and build emissions and data quality into freight tenders and supplier scorecards. |
| Fuel and technology providers | Solution side | Monetise avoided fuel and ETS cost through low-carbon fuels, retrofits and optimisation tools. | Grow recurring revenues and project margins as more of the fleet looks for measurable efficiency and emissions gains. | Anchor every offer in verified savings in tonnes of fuel and CO₂ with a clear payback period in years. |
| Finance and insurance aligned with greener fleets | Selective winner | Shift portfolios toward efficient, compliant tonnage and away from assets at risk of regulation or obsolescence. | Better risk profile, more resilient fee and interest income, and upside with regulators and investors. | Apply simple climate criteria for new business and work with clients on transition plans for higher-risk assets. |
| End consumers | Background payer | See a small share of higher freight and fuel costs embedded in final product prices over time. | Impact per item is low, but spreads gradually across sectors as green services become the default on more trades. | For consumer-facing brands, decide where to highlight greener shipping and where to keep it as behind-the-scenes compliance. |
2026 green premium
Who Pays For Cleaner Ships?
Click to expand
2026 green premium
Who Pays For Cleaner Ships?
Click to expand
Direct payers (freight & fuel)
Hidden payers (discounted assets)
Intermediaries (charterers & liners)
Ultimate payer (end consumer)
💸Where The 2026 Green Premium Actually Lands
Below is a simple view of who pays, how they pay and when they can push the cost somewhere else. It is not exhaustive, but it reflects the most common patterns emerging under EU ETS, FuelEU Maritime and the spread between conventional and lower emission fuels.
1
Cargo owners and brands
Direct freight uplift
How they pay
Higher freight / certificates
Pay surcharges for low emission services and book and claim certificates tied to cleaner fuels, especially on flagship trades and products.
Pay surcharges for low emission services and book and claim certificates tied to cleaner fuels, especially on flagship trades and products.
When they can pass it on
When ocean transport is a small share of landed cost and marketing can link slightly higher prices to lower Scope 3 emissions and regulatory compliance.
When they are stuck with it
Where internal ESG policy or buyer demands require low emission shipping regardless of cost, and trading down to cheaper freight would damage reputation.
2
Liner and logistics companies
Product & fuel spread
How they pay
More expensive fuels
Pay a premium for low carbon fuels and compliance systems, then package them into named green products on top of standard services.
Pay a premium for low carbon fuels and compliance systems, then package them into named green products on top of standard services.
When they can pass it on
When customers accept a two tier offer: base service at lowest cost and a clearly verified low emission option at a higher rate.
When they are stuck with it
On routes where shippers demand greener services but resist higher prices, or where competition forces lines to undercharge for the low emission product.
3
Owners with modern eco / dual fuel ships
Capex today
How they pay
Higher newbuild / retrofit cost
Commit to more expensive designs, engines and equipment to deliver better fuel, emissions and CII performance.
Commit to more expensive designs, engines and equipment to deliver better fuel, emissions and CII performance.
When they can pass it on
When they secure higher time charter rates, longer periods, preferential employment and better finance terms compared with older peers.
When they are stuck with it
In weak freight markets where charterers resist premiums and the earnings uplift does not fully cover the extra capital cost in the short term.
4
Owners of older or inefficient tonnage
Brown discount
How they pay
Weaker earnings
Pay more per tonne mile in fuel and carbon, face CII constraints and have a harder time securing long term employment at competitive rates.
Pay more per tonne mile in fuel and carbon, face CII constraints and have a harder time securing long term employment at competitive rates.
When they can pass it on
Occasionally in very tight markets when charterers prioritise availability or flexibility and accept the higher running cost.
When they are stuck with it
In normal conditions when charterers prefer eco ships, banks tighten around high emission assets and resale values drift lower.
5
Time charterers
Voyage economics
How they pay
Fuel & ETS exposure
Carry the bunker bill and EU ETS cost when they control speed and routing, especially on long haul trades into and out of regulated regions.
Carry the bunker bill and EU ETS cost when they control speed and routing, especially on long haul trades into and out of regulated regions.
When they can pass it on
Where they have negotiation power and clear emission data, building carbon and fuel premia into freight rates or surcharges to cargo owners.
When they are stuck with it
Under fixed rate contracts or in highly competitive markets where customers focus on headline freight and ignore emission performance.
6
Capital providers and end consumers
Background layer
How they pay
Portfolio & shelf prices
Banks accept thinner margins on green lending and write downs on stranded assets; consumers see part of the green premium embedded in the final price of goods.
Banks accept thinner margins on green lending and write downs on stranded assets; consumers see part of the green premium embedded in the final price of goods.
When they can pass it on
Financial institutions recover some cost via scale, reputation and capital relief; retailers recover cost when market positioning supports slightly higher prices.
When they are stuck with it
When regulations tighten faster than expected and assets or products cannot be repriced quickly enough to reflect higher decarbonisation costs.
2026 green premium
Who Gets Paid For Cleaner Ships?
Click to expand
2026 green premium
Who Gets Paid For Cleaner Ships?
Click to expand
✅Where The Green Premium Shows Up As Revenue
The same regulations and fuel spreads that create pain for some players are turning into real upside for others. In 2026, most of the green premium is captured as better rates, stronger utilisation, higher asset values and new service revenues rather than a single visible “eco surcharge”.
1
Owners with modern eco / dual fuel ships
Rate & value uplift
How they earn it
Higher time charter rates
Secure better daily earnings, longer periods and a larger pool of charterers for ships that burn less fuel and sit in better CII bands.
Secure better daily earnings, longer periods and a larger pool of charterers for ships that burn less fuel and sit in better CII bands.
What makes it credible
Charterers see direct fuel and ETS savings, and financiers increasingly favour efficient ships. That supports both day rate premia and resale premia.
Where it tops out
In very weak markets, the efficiency gap still matters, but the dollar spread over older tonnage narrows as everyone fights for employment.
2
Liner and logistics groups with low emission products
Branded service premium
How they earn it
Named green services
Offer book and claim or low emission services at a higher all in freight, bundling cleaner fuels and verified CO₂ cuts into a premium product.
Offer book and claim or low emission services at a higher all in freight, bundling cleaner fuels and verified CO₂ cuts into a premium product.
What makes it credible
Large shippers need verifiable Scope 3 reductions and are willing to pay more for certified emission claims on specific lanes or volumes.
Where it tops out
The willing to pay pool is still concentrated in big brands. Commodity shippers and spot buyers remain more price driven and slow to adopt.
3
Data-mature operators and performance teams
Operational alpha
How they earn it
Performance-led trading
Use accurate fuel, speed and CII data to run voyages at the lowest combined fuel and carbon cost, while still delivering on time.
Use accurate fuel, speed and CII data to run voyages at the lowest combined fuel and carbon cost, while still delivering on time.
What makes it credible
The same data feeds chartering, ETS reporting and claims handling, so each optimisation delivers value in several parts of the P&L at once.
Where it tops out
Once competitors reach similar data quality and tools, the edge shrinks and the green premium from superior operations becomes harder to defend.
4
Fuel and technology providers
Solution margin
How they earn it
Premium solutions
Sell low carbon fuels, optimisation tools and retrofit technologies at a margin that reflects avoided fuel, ETS and compliance costs for their clients.
Sell low carbon fuels, optimisation tools and retrofit technologies at a margin that reflects avoided fuel, ETS and compliance costs for their clients.
What makes it credible
When they can show measured savings in tonnes of CO₂ and tonnes of fuel, the extra spend is seen as investment rather than pure overhead.
Where it tops out
As more suppliers enter the same niches, competition pushes prices down and shifts more value back to shipowners and operators.
5
Finance and insurance aligned with greener fleets
Selective growth
How they earn it
Better risk profile
Grow fee income and interest from portfolios tilted toward efficient and compliant tonnage, while gradually exiting higher risk high emission assets.
Grow fee income and interest from portfolios tilted toward efficient and compliant tonnage, while gradually exiting higher risk high emission assets.
What makes it credible
Regulatory and investor pressure already rewards climate aligned books, and greener fleets are less exposed to sudden compliance shocks.
Where it tops out
Once most lenders and insurers have made the same shift, the advantage becomes baseline hygiene rather than a distinct commercial differentiator.
🧭
2026 Green Premium Playbook By Player Type
Use as a one page checklist
If you own modern eco or dual fuel ships
Mostly winning on rates and value
- Prioritise trades exposed to EU ETS and CII where your fuel and CO₂ savings are most visible.
- Use measured performance data in every charter negotiation to anchor a higher base rate.
- Leverage the stronger earnings profile when talking to lenders and investors about new projects.
If you own 10–20 year old or inefficient ships
Mostly paying through discount
- Segment the fleet into upgrade, niche trade and exit candidates based on age, CII and fuel burn.
- Pick a short list of fast payback upgrades that clearly improve CII and daily fuel consumption.
- Avoid long fixed rate commitments where you carry rising fuel and ETS costs without recovery.
If you are a time charterer or operator
Outcome depends on discipline
- Link voyage planning, bunkers and ETS so every routing and speed choice has a clear cost number.
- Update charterparty language so fuel and carbon costs are allocated in a way you can explain and defend.
- Compare eco and non-eco options on total voyage cost per tonne, not just daily hire.
If you are a liner or logistics group
Can monetise branded green services
- Offer a simple two tier product: standard service and a verified low emission service at a premium.
- Start with your largest customers and key lanes where Scope 3 reporting pressure is highest.
- Feed uptake and pricing data into fleet renewal and fuel strategy decisions for the next contracts.
If you are a cargo owner or consumer brand
Visible payer with reputational upside
- Choose a limited set of priority trades to green first and secure long term terms for those lanes.
- Include shipping emissions and data quality in supplier scorecards and freight tenders.
- Decide where greener shipping supports the brand story and where price remains the main driver.
If you sell fuels or decarbonisation technology
On the solution side of the premium
- Base every offer on measured fuel and CO₂ savings with a clear payback period in years.
- Build reference cases with credible owners and make the results easy to reuse in sales material.
- Offer contract structures that share upside when fuel or carbon prices move in the client’s favour.
If you are a lender or insurer
Risk manager and selective winner
- Map portfolio exposure to CII, ETS and fuel risk by age, segment and trade pattern.
- Set clear climate alignment criteria for new business and refinancings that reward efficient fleets.
- Work with clients on transition plans for higher risk assets instead of waiting for distress events.
In the end, the 2026 green premium is not a single fee or surcharge but a shifting pattern of who absorbs higher fuel, carbon and asset costs and who manages to turn efficiency and compliance into better rates and stronger portfolios. Owners, charterers, cargo interests and financiers all sit somewhere on that line between paying and getting paid, and that position can move quickly as regulations tighten, trades rotate and more efficient tonnage enters the water. The practical task for each player now is to know where they sit in that map, decide what risks they will carry, what they will pass on, and where they can credibly charge more for lower emissions, then align contracts, fleet plans and data systems around that choice before the next round of rules and fuel spreads arrive.
