Bahamas flag, 2025
Ships whose port of registry belongs to Bahamas, as estimated from the THETIS-MRV reports for 2025, and the companies operating them. Each company counts only its ships under this flag.
At a glance
Ships
729
4 with a blank port, flag from another year
Emitted
7,224,700 t
CO₂, all ships under the flag
EU ETS allowances due
€212m
2,833,178 t of allowances at the chosen price
Largest operator: NCL (Bahamas) Ltd.
€24.8m
14 ships, 12% of the flag's allowances
Ship types under this flag
CO₂ by segment.
- Cruise1,741,857 t
- LNG carrier1,638,227 t
- Oil tanker1,100,258 t
- Bulk carrier470,862 t
- General cargo401,268 t
- Vehicle carrier399,869 t
- Offshore388,266 t
- Reefer373,392 t
- Ro-pax216,327 t
- Container128,466 t
- Gas carrier (LPG)122,457 t
- Passenger91,057 t
- Chemical tanker82,441 t
- Other51,399 t
- Con-ro17,003 t
- Ro-ro1,550 t
Companies by EU ETS cost
The 50 operators with most EU ETS allowances due for their Bahamas-flagged ships in 2025. Companies of one group are summed, as on the compare page; their ships under other flags are not counted here.
| # | Operator | Main segment | Shipsunder Bahamas | CO₂emitted, total | AllowancesEU ETS cost | vs segment medianlower is better | vs similar-size shipssame segment, lower is better |
|---|---|---|---|---|---|---|---|
| 1 | NCL (Bahamas) Ltd. | Cruise | 14 | 577,296 t | €24.8m | −7% | −7% |
| 2 | Seapeak | LNG carrier | 22 | 920,271 t | €24.2m | +28% | +28% |
| 3 | Royal Caribbean Group | Cruise | 9 | 378,933 t | €9.8m | −33% | −33% |
| 4 | Maran | Oil tanker | 13 | 236,206 t | €8.8m | +113% | +67% |
| 5 | Teekay Marine (Singapore) Pte. Ltd. | Oil tanker | 31 | 252,238 t | €7.3m | −18% | +3% |
| 6 | STAMCO SHIP MANAGEMENT CO LTD | Vehicle carrier | 39 | 254,716 t | €7.1m | −13% | +7% |
| 7 | ''K'' Line Energy Shipping (UK) Limited | LNG carrier | 2 | 130,232 t | €6.2m | – | – |
| 8 | NYK(3 companies) | LNG carrier | 11 | 221,061 t | €6.0m | +29% | +29% |
| 9 | Polska Zegluga Baltycka S.A. | Ro-pax | 4 | 128,660 t | €5.9m | – | – |
| 10 | Silversea SAM | Cruise | 9 | 127,858 t | €5.3m | +164% | +164% |
| 11 | Lundqvist Rederierna AB | Oil tanker | 10 | 125,493 t | €4.6m | +13% | +9% |
| 12 | Fred. Olsen | Cruise | 3 | 129,633 t | €4.2m | – | – |
| 13 | Polska Zegluga Morska P.P. | Bulk carrier | 23 | 124,794 t | €4.1m | +30% | +4% |
| 14 | SAGA SHIPHOLDING (NORWAY) AS | General cargo | 25 | 126,285 t | €3.7m | −65% | −65% |
| 15 | Virgin Cruises Intermediate Limited | Cruise | 4 | 89,364 t | €3.4m | – | – |
| 16 | Carnival Corporation(2 companies) | Cruise | 6 | 84,916 t | €3.3m | +112% | +112% |
| 17 | STARGATE SHIPMANAGEMENT GmbH | Vehicle carrier | 4 | 72,346 t | €3.2m | – | – |
| 18 | WAKE ASSET CO LTD | Cruise | 2 | 88,294 t | €3.2m | – | – |
| 19 | HYPROC SHIPPING COMPANY SPA | Gas carrier (LPG) | 3 | 97,643 t | €3.0m | – | – |
| 20 | Wallem | Oil tanker | 11 | 95,921 t | €2.9m | −14% | +7% |
| 21 | Gearbulk Norway AS | General cargo | 18 | 95,678 t | €2.6m | −63% | −63% |
| 22 | MOL(3 companies) | LNG carrier | 10 | 131,758 t | €2.4m | −5% | −7% |
| 23 | Wilson Ship Management AS | General cargo | 16 | 50,374 t | €2.4m | +5% | +5% |
| 24 | OWH Shipmanagement GmbH | Reefer | 21 | 81,092 t | €2.3m | −2% | +2% |
| 25 | V.Ships(2 companies) | Cruise | 3 | 50,792 t | €2.2m | – | – |
| 26 | Ventura Trading Ltd. | Reefer | 4 | 80,945 t | €2.2m | – | – |
| 27 | MARELLA CRUISES LIMITED | Cruise | 1 | 56,041 t | €2.1m | – | – |
| 28 | Seatrade(2 companies) | Reefer | 15 | 73,676 t | €2.1m | +24% | −6% |
| 29 | CMA CGM(2 companies) | Container | 10 | 123,171 t | €2.0m | +1% | +5% |
| 30 | Windstar Cruises Marshall Islands, LLC | Cruise | 6 | 40,452 t | €1.8m | +162% | +162% |
| 31 | NAURANTO Schiffsbetriebsgesellschaft mbH & Co. TS "Gabriela“ KG | LNG carrier | 1 | 61,533 t | €1.6m | – | – |
| 32 | Thenamaris | Oil tanker | 3 | 52,414 t | €1.6m | – | – |
| 33 | ALBERTA SHIPMANAGEMENT LTD. | Oil tanker | 20 | 49,092 t | €1.5m | −36% | −13% |
| 34 | Magical Cruise Co Ltd | Passenger | 1 | 63,591 t | €1.5m | – | – |
| 35 | SAMOS STEAMSHIP CO. | Oil tanker | 11 | 47,781 t | €1.5m | −16% | −4% |
| 36 | Siem | Other | 5 | 47,164 t | €1.3m | – | – |
| 37 | OSM Thome(2 companies) | Bulk carrier | 10 | 55,850 t | €1.3m | −18% | −8% |
| 38 | NAUSOLA Schiffsbetriebsgesellschaft mbH & Co. TS "Britta" KG | LNG carrier | 1 | 45,933 t | €1.2m | – | – |
| 39 | MS Amera Shipping Ltd. | Cruise | 1 | 31,926 t | €1.2m | – | – |
| 40 | World Tankers Management Pte | Oil tanker | 3 | 39,318 t | €1.1m | – | – |
| 41 | SMT Shipping (Cyprus) Ltd | General cargo | 11 | 36,224 t | €1.1m | −71% | −71% |
| 42 | SUPER ECO TANKERS MANAGEMENT INC | Chemical tanker | 3 | 28,691 t | €1.1m | – | – |
| 43 | P&O Ferries Holdings Ltd | Ro-pax | 1 | 45,036 t | €1.1m | – | – |
| 44 | Tsakos | Oil tanker | 2 | 30,837 t | €1.1m | – | – |
| 45 | AET | Oil tanker | 1 | 25,143 t | €969k | – | – |
| 46 | Condor Marine Services Ltd | Ro-pax | 3 | 27,194 t | €942k | – | – |
| 47 | ARTANIA GMBH | Cruise | 1 | 22,650 t | €938k | – | – |
| 48 | Shell International Trading and Shipping Company Limited | LNG carrier | 2 | 34,128 t | €919k | – | – |
| 49 | Dockendale Ship Management FZCO | Bulk carrier | 16 | 32,895 t | €861k | −19% | −11% |
| 50 | Carlova Maritime Co. | Oil tanker | 8 | 36,392 t | €840k | – | – |
Show by ISM company (DoC holder) instead of group
| # | Operator | Main segment | Shipsunder Bahamas | CO₂emitted, total | AllowancesEU ETS cost | vs segment medianlower is better | vs similar-size shipssame segment, lower is better |
|---|---|---|---|---|---|---|---|
| 1 | NCL (Bahamas) Ltd. | Cruise | 14 | 577,296 t | €24.8m | −7% | −7% |
| 2 | Seapeak Maritime Limited | LNG carrier | 22 | 920,271 t | €24.2m | +28% | +28% |
| 3 | Royal Caribbean Cruises, Ltd. | Cruise | 9 | 378,933 t | €9.8m | −33% | −33% |
| 4 | Maran Shuttle Tankers Norway AS | Oil tanker | 13 | 236,206 t | €8.8m | +113% | +67% |
| 5 | Teekay Marine (Singapore) Pte. Ltd. | Oil tanker | 31 | 252,238 t | €7.3m | −18% | +3% |
| 6 | STAMCO SHIP MANAGEMENT CO LTD | Vehicle carrier | 39 | 254,716 t | €7.1m | −13% | +7% |
| 7 | ''K'' Line Energy Shipping (UK) Limited | LNG carrier | 2 | 130,232 t | €6.2m | – | – |
| 8 | Polska Zegluga Baltycka S.A. | Ro-pax | 4 | 128,660 t | €5.9m | – | – |
| 9 | Silversea SAM | Cruise | 9 | 127,858 t | €5.3m | +164% | +164% |
| 10 | Lundqvist Rederierna AB | Oil tanker | 10 | 125,493 t | €4.6m | +13% | +9% |
| 11 | Fred. Olsen Cruise Lines Limited | Cruise | 3 | 129,633 t | €4.2m | – | – |
| 12 | Polska Zegluga Morska P.P. | Bulk carrier | 23 | 124,794 t | €4.1m | +30% | +4% |
| 13 | SAGA SHIPHOLDING (NORWAY) AS | General cargo | 25 | 126,285 t | €3.7m | −65% | −65% |
| 14 | Virgin Cruises Intermediate Limited | Cruise | 4 | 89,364 t | €3.4m | – | – |
| 15 | STARGATE SHIPMANAGEMENT GmbH | Vehicle carrier | 4 | 72,346 t | €3.2m | – | – |
| 16 | WAKE ASSET CO LTD | Cruise | 2 | 88,294 t | €3.2m | – | – |
| 17 | HYPROC SHIPPING COMPANY SPA | Gas carrier (LPG) | 3 | 97,643 t | €3.0m | – | – |
| 18 | NYK LNG Shipmanagement Ltd | LNG carrier | 5 | 111,546 t | €3.0m | +30% | +30% |
| 19 | Wallem Shipmanagement Ltd. | Oil tanker | 11 | 95,921 t | €2.9m | −14% | +7% |
| 20 | Gearbulk Norway AS | General cargo | 18 | 95,678 t | €2.6m | −63% | −63% |
| 21 | Holland America Line Limited | Cruise | 4 | 63,324 t | €2.6m | – | – |
| 22 | NYK LNG Shipmanagement (UK) Ltd. | LNG carrier | 3 | 90,051 t | €2.4m | – | – |
| 23 | Wilson Ship Management AS | General cargo | 16 | 50,374 t | €2.4m | +5% | +5% |
| 24 | OWH Shipmanagement GmbH | Reefer | 21 | 81,092 t | €2.3m | −2% | +2% |
| 25 | V.Ships Leisure SAM | Cruise | 2 | 50,792 t | €2.2m | – | – |
| 26 | Ventura Trading Ltd. | Reefer | 4 | 80,945 t | €2.2m | – | – |
| 27 | MARELLA CRUISES LIMITED | Cruise | 1 | 56,041 t | €2.1m | – | – |
| 28 | Seatrade Groningen B.V. | Reefer | 13 | 69,072 t | €1.9m | +16% | −17% |
| 29 | Windstar Cruises Marshall Islands, LLC | Cruise | 6 | 40,452 t | €1.8m | +162% | +162% |
| 30 | CMA CGM SA | Container | 9 | 114,925 t | €1.7m | +1% | +3% |
| 31 | NAURANTO Schiffsbetriebsgesellschaft mbH & Co. TS "Gabriela“ KG | LNG carrier | 1 | 61,533 t | €1.6m | – | – |
| 32 | MOL LNG TRANSPORT CO., LTD. | LNG carrier | 2 | 60,172 t | €1.6m | – | – |
| 33 | Thenamaris Ships Management Inc. | Oil tanker | 3 | 52,414 t | €1.6m | – | – |
| 34 | ALBERTA SHIPMANAGEMENT LTD. | Oil tanker | 20 | 49,092 t | €1.5m | −36% | −13% |
| 35 | Magical Cruise Co Ltd | Passenger | 1 | 63,591 t | €1.5m | – | – |
| 36 | SAMOS STEAMSHIP CO. | Oil tanker | 11 | 47,781 t | €1.5m | −16% | −4% |
| 37 | SIEM Ship Management | Other | 5 | 47,164 t | €1.3m | – | – |
| 38 | OSM BERGEN DRY AS | Bulk carrier | 7 | 50,811 t | €1.3m | −12% | −9% |
| 39 | NAUSOLA Schiffsbetriebsgesellschaft mbH & Co. TS "Britta" KG | LNG carrier | 1 | 45,933 t | €1.2m | – | – |
| 40 | MS Amera Shipping Ltd. | Cruise | 1 | 31,926 t | €1.2m | – | – |
| 41 | World Tankers Management Pte | Oil tanker | 3 | 39,318 t | €1.1m | – | – |
| 42 | SMT Shipping (Cyprus) Ltd | General cargo | 11 | 36,224 t | €1.1m | −71% | −71% |
| 43 | SUPER ECO TANKERS MANAGEMENT INC | Chemical tanker | 3 | 28,691 t | €1.1m | – | – |
| 44 | P&O Ferries Holdings Ltd | Ro-pax | 1 | 45,036 t | €1.1m | – | – |
| 45 | Tsakos Shipping & Trading S.A. | Oil tanker | 2 | 30,837 t | €1.1m | – | – |
| 46 | AET SEA SHUTTLE AS | Oil tanker | 1 | 25,143 t | €969k | – | – |
| 47 | Condor Marine Services Ltd | Ro-pax | 3 | 27,194 t | €942k | – | – |
| 48 | ARTANIA GMBH | Cruise | 1 | 22,650 t | €938k | – | – |
| 49 | Shell International Trading and Shipping Company Limited | LNG carrier | 2 | 34,128 t | €919k | – | – |
| 50 | Dockendale Ship Management FZCO | Bulk carrier | 16 | 32,895 t | €861k | −19% | −11% |
- Allowances :
- EU ETS allowances due for the year, at the chosen price.
- vs segment median :
- CO₂ per transport work against the median segment ship. Below 0% is better.
- vs similar-size ships :
- CO₂ per transport work of the median ship, against the median ship of the same size band in its segment (whole segment where the segment has no size bands). Below 0% is better.
EU ETS allowances are not a tax: companies buy and surrender one allowance per tonne of CO₂ in scope. Figures use the 2025 phase-in share and an EUA price of €75 per tonne, which the commercial view lets you change. The flag is estimated from the port of registry; see the Flags page.