Maritime Industry Briefing: UK Carbon Market, COSCO Expansion, Leadership Change at ONE

## Maritime Industry Briefing ### UK Carbon Market Now Covers Domestic Shipping The United Kingdom's emissions trading scheme (ETS) has been extended to domestic shipping as of today, marking a significant regulatory milestone for the sector. According to Splash247, cargo and passenger vessels of 5,000 gross tonnes and above are now subject to the carbon pricing mechanism, which applies to voyages between UK ports as well as in-port activities — including cargo operations — at UK ports of call. The move aligns the UK more closely with the European Union's own ETS expansion to maritime, and signals growing regulatory pressure on shipowners and operators to account for and reduce their carbon footprint. Industry participants will need to ensure compliance frameworks are in place to monitor emissions and surrender allowances accordingly. ### COSCO Makes Dual Power Play with Bulker Orders and Spanish Terminal Win Chinese shipping giant COSCO has made headlines on two fronts this week, underscoring the group's continued appetite for strategic expansion. COSCO Shipping Development has announced orders for 24 dry bulk vessels in a deal valued at RMB8.66 billion (approximately $1.27bn), Splash247 reports. The vessels will be ordered through the company's indirect wholly owned subsidiary, Hainan COSCO Shipping Development, and chartered back to the broader COSCO group on long-term agreements — a structure that deepens the company's ship leasing business while keeping tonnage within the group's operational ecosystem. Separately, a COSCO Shipping Ports-led consortium has received an award notification from the Port Authority of Tarragona for a new multipurpose terminal in Spain. The project, valued at approximately €144.6 million, would add another Mediterranean node to COSCO's growing European port network — a portfolio that has attracted both commercial interest and geopolitical scrutiny in recent years. ### Barrelet Takes the Helm at Ocean Network Express Japanese container line Ocean Network Express (ONE) has entered a new chapter with Till Ole Barrelet formally assuming the role of chief executive today, succeeding founding boss Jeremy Nixon. Barrelet, who previously served as chief executive of Emirates Shipping Line, joined ONE as CEO-designate in May ahead of the planned transition, according to Splash247. Nixon led ONE from its formation — a joint venture between NYK, MOL, and 'K' Line — through its early turbulent years and subsequent growth into one of the world's leading container carriers. Barrelet's appointment will be closely watched as the liner industry navigates ongoing market volatility and structural shifts in global trade. ### US Moves Against Cartel-Linked Maritime Fuel Smuggling US authorities have taken action to disrupt a cartel-linked fuel smuggling network that allegedly used maritime transport, logistics companies, and falsified customs documents to move illicit hydrocarbons between the United States and Mexico. Splash247 reports that the Department of the Treasury's Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) were involved in the operation. The case highlights the continued vulnerability of maritime supply chains to exploitation by criminal organisations and the increasing coordination between financial and trade enforcement agencies in targeting such networks.