Digital Compliance Platform BetterSea Launches FuelEU Index for Maritime Surplus Market

Digital compliance platform BetterSea has launched the first FuelEU Index, offering a benchmark for pricing and trading dynamics in the emerging FuelEU Maritime surplus market.

The index is built on executed trades and active listings on the BetterSea platform, which has recorded over 41,700 tonnes of CO equivalent (t COe) in listed surplus credits to date. The new index is aimed at improving transparency and helping market players navigate the early stages of compliance trading under the EU’s maritime decarbonisation rules.

Since June, Portugal-based BetterSea reports the average ask price on its platform has fallen by 24%, while trade prices have edged up 9%. The bid-ask spread has narrowed by 64%, reflecting a tightening market and increasing buyer confidence.

“There’s a lot of guesswork in the market right now,” said BetterSea co-CEO Maximilian Schroer, adding: “Our index is anchored in executed transactions – real deals, not opinions – giving the industry the clarity it needs to move forward with confidence.”

BetterSea said liner operators continue to drive most of the surplus supply, particularly those using less common fuels such as bio-LNG. At the same time, financial players and trading houses are entering the space, drawn by arbitrage opportunities and early positioning strategies. A noticeable uptick in activity from smaller market participants-trading volumes between 500 and 1,000 t COe-points to growing market maturity.

Strategic advisor Stephen Schueler and a former chief commercial officer at Maersk said the index would contribute to “greater transparency leading to a faster green transition in the maritime industry.”

The FuelEU Index will be updated monthly and shared with users and market observers through BetterSea’s newsletter.

The FuelEU regulation, which came into force in 2025, requires ships calling at EU ports to progressively cut their greenhouse gas intensity. Surplus trading is one tool enabling early movers to monetize over-compliance, while others can use the credits to meet shortfalls.

As the end of the year approaches, BetterSea expects more participants to enter the market, increasing liquidity and competition as compliance deadlines tighten.