Deleting shipping’s phase-in period in the EU ETS would lead to a fivefold rise in carbon cost in the initial year. For commercial decision-makers who’s influenced by the carbon exposure it will be a steep learning curve, as the added carbon cost to a commonly traded intra-EU tanker route would go from USD 14 000 to USD 70 000. This is a new type of exposure that the industry needs to get familiar with, says Siglar CEO Sigmund Kyvik.
Read moreEU Parliament committee suggests a basket of amendments to speed up shipping’s inclusion to the EU Emissions Trading System (ETS). Suggestions include deleting the phase-in period and extending the geographical scope of the scheme while allowing shipowners to pass on the carbon cost to the charterer. This is good news for frontrunners and for the commercial decarbonisation of shipping.
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Do you want to know how to make money while cutting shipping emissions? Start collecting granular emissions data today. This was the unanimous advice from an interdisciplinary panel talking in front of commercial decision-makers at Nor-Shipping. If you missed it but still want to know how to use emissions data as a competitive edge, here are the highlights.
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Siglar Carbon and the “Impact Today” working group are calling for a new standard vessel report that simplifies the reporting process and enhances the quality of data input. High quality data input improves decision foundation and allows for both ship and cargo owners to optimise operation and reduce emissions.
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Siglar Carbon and Vortexa are launching a partnership to increase the impact of ship emissions insight in commercial shipping decisions. Providing actionable emissions insight to decision-makers will promote carbon efficient decisions and drive industry decarbonisation.
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Chaotic mailboxes, missing attachments, reports in different formats and constant status meetings to regain control. If any of the above describes your current CO2 reporting process, you will probably benefit from implementing a managed emissions reporting service.
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Have you signed or are planning to sign the Sea Cargo Charter (SCC) and worry about time-consuming data collection, validation and estimation? Our standard reporting programme includes a SCC managed reporting service that takes care of everything.
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There are currently two suggested versions of how the maritime sector should be included in the EU ETS. We compare the two versions to demonstrate how each of them would the impact freight rates.
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Newly suggested EU ETS amendments have the potential to strongly impact charterers and freight rates. The commercial operator’s requirement to pay the final carbon cost is enforced and the inclusion of emissions from the shipping industry is accelerated and expanded.
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The EU ETS allowances have been traded above USD 100 every day since the start of February. At this level the carbon price could increase freight rates by 10-30%. We use four example voyages from the tanker segment to show how this carbon price could impact freight rates on intra EU voyages and on global EU voyages.
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The outcome of the International Maritime Organisation (IMO) meeting shows that global regulation will not drive the next few years’ vital development towards shipping decarbonisation. With no agreement on carbon pricing measures, no funds dedicated to support decarbonisation, and even no change in the initial GHG reduction strategy it is still left to individual companies to drive the decarbonisation.
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At today's rate a fully implemented EU Emissions Trading System would add a carbon cost of more than USD 70 000 per round voyage for a commonly traded intra-EU route. The EU carbon price is increasing, and we give you an overview of the costs that the introduction of the system could bring to two commonly traded shipping routes.
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Will the IMO change its course towards net zero shipping and lead shipping decarbonisation or will others be forced to take up the challenge? We give you the agenda of the MEPC77 meeting and keep you up to date on the outcomes.
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Collaborating to get shipping to net zero emissions by 2050 seems to be the COP26 shipping chant. The COP26-spotlight has brought stakeholders from the full shipping ecosystem to the table and both governments, finance industry and shipping customers are calling for collaboration and raised decarbonisation ambitions. Now, it remains to be seen if the COP26 wind is strong enough to get the IMO to adjust its sails.
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The COP26 has solidified the importance of reaching net zero emissions by 2050 to stay in line with the Paris Climate Agreement Goals. The shipping industry and specifically the IMO’s target of cutting GHG emissions by 50% by 2050 is seen as out of touch amongst the industry, which has come to terms with the need to fully decarbonise the sector by 2050. We take a look at the outcomes of COP26.
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Shipping companies efforts to cut their GHG emissions are inadequate and the industry is urged to come up with a set of more ambitious and credible targets in the run up to COP26. We give you a quick guide to what is happening leading up to and at COP26.
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With the Carbon Estimator charterers, brokers and owners can predict and assess the environmental footprint from tanker voyages. In this post we look at five ways you can use the Carbon Estimator in your day-to-day chartering activities.
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Siglar argues that a "common carbon language" is needed to accelerate short-term cuts in maritime emissions. In an interview with Siglar CEO Sigmund Kyvik, he explains why he thinks a new language is necessary and how the launch of the free Siglar Carbon Estimator can kickstart the learning of this language.
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Siglar Carbon launches a free and neutral tool for estimating and comparing emissions from tanker voyages. Using the Siglar Carbon Estimator to compare the carbon consequence of commercial decisions prior to fixing can unlock potential that lies within a commercial decarbonization of the shipping industry.
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We are excited to see the first version of Climate TRACE world emissions map and intelligence being published, and proud to say that Siglar Carbon played a small part, reviewing their maritime prediction model. We share the goal of making emissions insight available, because effective decarbonization starts with detailed knowledge of emissions sources – also in the maritime industry.
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The European Union proposes a basket of measures to decarbonise the maritime industry, which will influence freight rates in different ways. Shipping emissions will become a cost element in freight negotiations and a part of ship owners, brokers and cargo owners' everyday business.
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The European Union’s “Fit for 55”-package proposes to decarbonize shipping by imposing a first-ever greenhouse gas (GHG) intensity limit on ship energy usage, a minimum tax on bunker fuels and a requirement to pay for shipping emissions in the emissions trading system (ETS) from 2023, with a full phase-in by 2026.
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The International Maritime Organisation (IMO) adopts new short-term measures that require ships to combine a technical and an operational approach to reduce their carbon intensity. The operational Carbon Intensity Indicator (CII) will highlight the charterers role in emissions reductions, but is it too weak, too slow? The IMO is already criticised for its selected method as well as its limited ambitions.
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As the International Maritime Organization (IMO) assembles today to adopt emission reduction measures, it’s with a backdrop of pressure to increase climate ambitions. Nations and industry players call for a net-zero maritime industry by 2050.
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A large majority of the respondents in an EU public consultation wants to include emissions not only from voyages between EU-ports but also from voyages between EU and non-EU ports in the Emissions Trading System (ETS).
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January 2021 is the first month of the Sea Cargo Charter (SCC) reporting on emissions from ship chartering activities. A rush of questions from both signatories and companies that are considering joining, show that details need to be discussed further.
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Many responsible dry bulk charterers measure and report emissions from their entire value chain. Reporting value chain emissions can be a puzzle, and chartering activities often represent a missing piece. Siglar keeps daily track of emissions from all shipping activities, regardless of ship type, size or freight contract, to help add that last piece to your puzzle.
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Øyvind Schanke and Peder Engeset join the Siglar Board of Directors to support the company in a growing phase. Schanke will take on the role as chairman of the board.
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During an IMO meeting last week member states agreed on a plan to facilitate the reduction of the carbon intensity of international shipping. A key point was the approval of operational ship performance requirements. The focus on operational performance targets the existing fleet, and it raises awareness on responsible charterers' role in reducing shipping emissions.
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The launching of the Sea Cargo Charter (SCC) is warmly welcomed by Siglar. In the Siglar Carbon Monitoring & Reporting dashboard all chartering activities are monitored and reported according to the Sea Cargo Charter requirements.
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The Siglar Carbon indexes let charterers compare the carbon exposure of potential ships and routes for their cargo. This way, substantial reduction potential is highlighted.
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A coming carbon price on shipping will change the way we trade commodities. Whether politicians implement carbon pricing globally or locally, or responsible companies implement it internally, insight into your freight emissions is crucial to prepare for this change.
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The Siglar Carbon Efficient Chartering concept helps responsible charterers make significant emissions reductions from their chartering activities.
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International shipping emits more than 1 000 million tonnes of CO2e per year, and this number is projected to rise. According to the Fourth IMO Greenhose Gas (GHG) Study, shipping emissions represent 2,89% of the worlds GHG emissions. If the sector were a country, it would rank sixth in the world in terms of emissions.
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You have to measure to manage and you have to manage to make efficient emissions reductions. These three steps are fundamental to the Siglar Carbon Efficient Chartering™ concept.
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