How charterers can significantly reduce shipping emissions

October 11, 2020

The Siglar Carbon Efficient Chartering concept helps responsible charterers make significant emissions reductions from their chartering activities.

We emphasize the charterers role in reducing emissions, and help responsible charterers make immediate and significant emissions reductions.

The shipping industry and its customers are awakening to the fact that the way we trade and operate ships today is unsustainable. International shipping is emitting more than 1 billion tonnes of CO2 each year, a level which according to the International Maritime Organization (IMO) needs to be reduced by at least 50% by 2050 to get closer to sustainability.

There is currently not sufficient support from the market nor regulations to achieve these goals. Emitting CO2 from ships has no direct cost, so the economic incentives to cut emissions are lacking. Furthermore, only a small portion of emissions are reported and accounted for, so accountability is vague. With such a backdrop, how can we achieve actual reductions starting today?  

While market support is low and regulations are pending, a growing number of responsible companies are leading the way. At Siglar, we assist these companies in cutting emissions by implementing what we call Carbon Efficient  Chartering. In short, we help charterers measure, manage and take action to reduce shipping emissions from the entire value chain. 

By giving charterers emissions insight in support of their shipping decisions, we see that significant amounts of CO2 can be reduced. In the factbox we estimate the reduction potential of two decisions that drive emissions; speed and ship.

According to Siglar estimates the global shipping of oil and gas emits approx. 220 million tonnes of CO2 each year. In this market where deep-sea tankers transport oil products across the globe thousands of tonnes of CO2 can be reduced from single voyages.

Read more about Siglar's Carbon Efficient Chartering concept.

Factbox ENVI suggestion