Bureau Veritas has released a report examining what the EU’s Renewable Energy Directive (RED III) means for shipowners and operators as member states move to transpose the legislation into national law.

Formally known as Directive (EU) 2023/2413, RED III forms part of the EU’s 'Fit for 55' package and sets targets for the transport sector, including shipping, to achieve either a 29% share of renewable energy or a 14.5% reduction in greenhouse gas intensity by 2030.

The directive also requires minimum shares for advanced biofuels, biogas and renewable fuels of non-biological origin (RFNBOs), including specific targets linked to maritime fuel supply.

RED III allows flexibility in how member states implement the rules, which could result in a fragmented regulatory environment in which obligations, fuel availability, and costs differ across jurisdictions, according to Bureau Veritas.

The classification society believes that it creates both opportunities and uncertainties for shipowners and operators. While RED III may help drive demand for and access to more sustainable fuels, uneven transposition could also lead to regulatory inconsistency and price volatility.

Bureau Veritas said it continues to support industry stakeholders with regulatory guidance and expert insight as they work to manage compliance requirements while progressing decarbonisation. It added that cooperation across the maritime value chain will be important in achieving a more harmonised and effective energy transition.

The report is available for download on the Bureau Veritas website.