Competitiveness Compass: A Boost for European Shipping

By 2 February 20252025 Newsletter week 5
February 2, 2025

ECSA – European Shipowners welcome the EU’s new Competitiveness Compass, which underscores competitiveness and open trade as essential for Europe’s security, resilience, and growth. With 76% of EU international trade relying on shipping, the sector is vital to Europe’s energy, food, and supply chain security.

Key highlights from the Competitiveness Compass:

  • Recognises shipping’s essential role in the European economy, in line with the Draghi report.
  • Calls for de-risking investments to accelerate the production of renewable and low-carbon fuels under the upcoming Sustainable Transport Investment Plan (STIP).
  • Supports faster and simpler processes for businesses, including a 25% reduction in reporting burdens (35% for SMEs).

ECSA Secretary General Sotiris Raptis welcomed the initiative, emphasising the need to close the innovation gap and invest in clean tech and fuels for shipping’s role in the energy transition. He also highlighted the importance of open trade as a key driver of Europe’s prosperity and resilience.