EMISSIONS: EC Said Small Vessels Are Not Ready For ETS Reporting Obligation
The latest EC analysis concluded that small vessels between 400 and 5,000 gross tonnages that aren’t already in the EU ETS reporting scope are not ready for reporting as the administrative costs will significantly outweigh the benefits, it said.
- Small vessels between 400 and 5,000 gross tonnages that have reporting obligation are small general cargo and offshore vessels, while all other types of small vessels are excluded.
- Small vessels that are excluded from current reporting obligation accounts for 43% of the total vessels count but only 9% of the total emissions with reporting obligation.
- The ratio between administrative costs and coverage of emissions would be on average seven times higher for smaller vessels, compared to the larger vessels currently subject to EU ETS reporting obligations, it said.
- An additional assessment on benefits that could result from integration of smaller vessels in other emissions mitigation policies will be carried out in the 2026 review of the EU ETS Directive.
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MNI EXCLUSIVE: ZEW President On Outlook Ahead Of German Election
ZEW president assesses Germany's economy ahead of this weekend's elections..-On MNI Policy MainWire now, for more details please contact sales@marketnews.com
US 10YR FUTURE TECHS: (H5) Remains Above Last Week’s Lows
- RES 4: 110-25 High Dec 12
- RES 3: 110-19 76.4% retracement of the Dec 6 - Jan 13 bear leg
- RES 2: 110-14 High Dec 14
- RES 1: 110-00 High Feb 7 and the bull trigger
- PRICE: 109-07 @ 16:46 GMT Feb 17
- SUP 1: 108-04/00 Low Feb 12 / Low Jan 16
- SUP 2: 107-06 Low Jan 13 and the bear trigger
- SUP 3: 107-04 Low Apr 25 ‘24 and a key support
- SUP 4: 106-11 2.00 proj of the Oct 1 - 14 - 16 price swing
Treasury futures remain above last week’s lows and price has risen above the 50-day EMA. A continuation higher would expose key resistance and a bull trigger at 110-00, the Feb 7 high. For bears, recent weakness resulted in a break of 108-20+, the Feb 4 low, highlighting the end of the corrective cycle between Jan 13 - Feb 7. A continuation lower would open 108-00, the Jan 16 low, and expose 107-06, the Jan 13 low and bear trigger.
UK DATA: Labour Market / Inflation Preview
- It’s another key week for UK data with labour market data (Tues), CPI (Wed) and the flash PMI (Fri) all due for release this week.
- Inflation is expected to pick up (both headline and services) - largely driven by a reversal in the timing-induced soft airfares print, but private school VAT and bus fares are likely to contribute too.
- On the labour market side, a rise in official AWE earnings data has been down downplayed in recent BOE communications as being inconsistent with other wage releases.
- We therefore take a deep dive into the alternative HMRC PAYE data.
