Now available: Carbon ranking of ships in the spot market

September 21, 2022

We're proud to present the Siglar Carbon Ship Finder, a digital tool allowing ship charterers to compare carbon emissions from ships at the click of a button. Access to emissions data prior to fixing empowers spot charterers to reduce emissions at scale and cut costs at the same time.

There is an urgent need to dramatically reduce shipping emissions and charterers can play a major role in shipping’s green transition. International shipping emits more than 1 000 million tonnes of CO2e per year, a number that is projected to rise. The shipping industry is a hard-to-abate sector where reducing emissions is expensive. The maritime industry is working hard to find solutions but developing new ship technology and alternative fuels takes time.

In the meantime, there is another possibility to reduce emissions quickly and significantly, namely if commercial actors throughout the maritime ecosystem start factoring carbon into their decisions. This could kickstart a commercial decarbonisation in the shipping industry.

The best moment to avoid emissions is when planning the shipping of cargo. Therefore, addressing the charterer’s decisions is vital. If the charterer is not aware of the carbon consequence of this decision, fixing a ship in the spot market can be a major emissions driver. The Siglar Carbon Ship Finder makes it easy to find the most carbon efficient ships and reduce carbon cost exposure at the same time.

“The Ship Finder enables large emissions reductions. In a highly competitive market, where any information is an asset, it can also give smart charterers a competitive edge.” Sigmund Kyvik, CEO Siglar Carbon
Comparing the carbon footprint of spot chartering voyages - pre-fixture

Siglar Carbon Ship Finder makes it easy to instantly find the most carbon-efficient ships by ranking the available alternatives according to expected carbon footprint.

To promote transparency and understanding, the estimates are presented in tonnes of CO2 emitted. This way apples are compared to apples and charterers can cut through the noise of the variety of calculation models whereas ship owners can promote their carbon performance with the credibility provided by third party validation.

Reduction potential: Several thousand tonnes of CO2 per voyage

Several thousand tonnes of CO2 per voyage often separate the ships on the high-end of the ranking from the ships on the low-end. To put things in perspective, the average person emits approximately 4.5 tonnes of CO2 - per year. Still, these decisions are often made without this insight.

It is easy to see that bringing carbon insights into the planning and the vessel chartering process can reduce substantial amounts of emissions. Once shipping emissions are priced, freight rates will also be highly impacted. At a carbon cost of EUR 90 per tonne CO2 emitted, the price of an internal EU voyage in the MR segment would increase by EUR 70 000.

The timing of the launch is vital for charterers to prepare for the carbon cost that will hit the industry when shipping is included in the European Union Emissions Trading System (EU ETS).

Press contact:

Gry Sørås
+47 40 40 36 57

For further information about Siglar Carbon, please check out our press page

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