About CarbonKeel

CarbonKeel shows ship owners, managers and operators what EU ETS, FuelEU Maritime, CII and UK ETS cost each ship, and prepares the documents and plans around them. It is independent: not a verifier, a class society, a broker or a fuel supplier.

Who is accountable

CarbonKeel, the company, is responsible for every figure on this site and in what we deliver. Questions and corrections: enquiry@carbonkeel.com or LinkedIn. A correction to a rule or a parameter is published, dated, on regulation updates.

Three kinds of figure, never mixed

• Estimate from public data: from the EU MRV register, always labelled as an estimate.
• Calculation from your data: from your noon reports, bunker notes or MRV data.
• Verified compliance: made by your accredited verifier and the Administration. CarbonKeel never claims it.

How the figures are made

• Every number comes from a deterministic calculation with an audit trail. AI is never used to compute a compliance figure.
• Every regulatory parameter (reduction factors, targets, penalty rates, fuel factors) sits in a named table with its source, so a rule change is one dated edit.
• Calculation engine version 2026.10.30, shown on every result together with the register file it used.

How they are checked, before every release

Nothing goes live unless the release gate passes: hand-computed worked examples for each rule, a frozen set of regression cases across ship types and fuels, a sweep of every ship in the register, and a test of every page and API. The results against the verifiers’ published figures are on the validation page, and every formula is in the Calculation Master Guide (also as PDF).

The data

Coverage. EMSA THETIS-MRV public export thetis_mrv_2025_v67.xlsx (sheets: 2025 Full ERs, 2025 Partial ERs). We use the 17,386 full-year emission reports, one per ship. The file also holds 1,533 partial-year reports from 1,493 ships that changed company during the year (460 of them have no full-year report), with 5.9 million t of CO₂, 3.6 million t of it in EU ETS scope. They are left out, so totals here are slightly lower than a count of every report (17,846 ships). EU ETS scope is the verifier’s figure as published. Download the export from mrv.emsa.europa.eu to reproduce any figure.

The register in numbers, by ship type, with a CSV: EU MRV emissions data. Our analysis of the 2026 cost: what the register reveals about EU ETS cost in 2026.

See what you get

• Noon-report analysis
• Compliance documents: MRV and FuelEU monitoring plans, EEXI technical file, SEEMP
• Plans and the paid pilot