NorthStandard partner with BetterSea to offer regulatory compliance aid

With the new FuelEU Maritime rules in force from 1 January 2025, shipowners must monitor and report greenhouse gas (GHG) intensity from onboard energy use and meet tightening reduction targets. Non-compliance comes with hefty penalties, mitigated only by using alternative energy or the ‘pooling’ mechanism, which groups vessels together to meet fleet-level targets.

NorthStandard’s agreement with BetterSea grants members discounted access to the FuelEU Platform Solution, a digital compliance tool covering data handling, internal and external pooling, and final pool verification. As part of the deal, transaction fees on pooling will be waived for the first six months, with BetterSea only charging an administration fee to set up escrow accounts.

A 20,000 TEU boxship burning 29,000 tonnes of fossil fuel could cut compliance costs by an estimated 45% through pooling alone. NorthStandard’s offer slashes an additional €45,000 in transaction fees.

The platform enables shipowners to track and plan compliance balances in real time, providing clarity on regulatory obligations. Its functionality spans legal and financial pooling frameworks, banking and borrowing mechanisms, and final verification. Members joining the BetterSea FuelEU platform also receive up to 30 hours of expert consultancy on decarbonisation regulations.

Mark Smith (pictured), NorthStandard’s loss prevention director – decarbonisation, said: “The BetterSea platform is a robust compliance tool, ensuring a seamless transition to FuelEU regulations while protecting sensitive data. Our exclusive offer underscores our confidence in its value.”

BetterSea co-founder Maximilian Schroer, formerly responsible for Maersk’s compliance strategy for CII, EU ETS, FuelEU, the Clean Shipping Act, and air emissions, added: “FuelEU Maritime presents a complex regulatory landscape with diverse stakeholder demands. Our platform simplifies compliance, equipping shipowners with the tools to adjust strategies dynamically in response to operational and market shifts. The result is a streamlined platform that cuts compliance costs and maximises profitability.”