Three fundamental steps to Carbon Efficient Chartering™

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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Three fundamental steps to Carbon Efficient Chartering™

November 23, 2019

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.

Siglar's Carbon Efficient Chartering™ approach can be described in three steps. The first is to measure your emissions, the second is to manage your emissions and the third is to take action to reduce your emissions. Measuring and setting emissions reduction targets is fundamental to making actual emissions reductions, and to future-proof company growth. Siglar helps you along the way with these three services.

Measure - with the Siglar Carbon Monitoring & Reporting™ service

Siglar measures carbon emissions from shipping activities on a daily basis. We monitor emissions at single journey level to provide a third-party full overview of CO2 emissions from all chartering activities. The granularity and quality of the data collected ensures that external and internal emissions reporting frameworks are covered while it also provides the insight needed to spot and analyse emissions drivers.

Our methods are aligned with IMO and EU reporting and the newly developed Sea Cargo Charter framework for assessing and disclosing the climate alignment of ship chartering activities.  

Manage - with the Siglar Carbon Advisory™ service

Continuous and comparable measurements of CO2 emissions are crucial to set, update and achieve your company's emissions reduction targets, and the detailed data provided by the monitoring and reporting module allows the analysis and insight needed to make data-driven decisions.

We analyse total CO2 emissions, emissions efficiency and emissions cost to disclose emission drivers and find areas of improvement. We take cost into consideration and suggest reductions where they are most efficient. This way management can easily make strategies that are both sustainable and commercially viable. Our daily reports make it possible to continuously align chartering decisions with your company's financial and environmental strategies and targets.

Reduce - with the Siglar Carbon Efficiency Platform™

With reduction targets set and strategies in place, the Siglar Carbon Efficient Chartering Platform™ allows companies to immediately reduce emissions, by disclosing the carbon consequence of different shipping decisions.

We use machine learning to predict future emissions. The quantity, quality and granularity of the data in the reporting module allows us to make predictions with a high level of accuracy that are continuously calibrated and improved. These emissions estimates provide the insight needed to make carbon and cost-efficient decisions.

Today most charterers and traders are unaware of variations in emissions when choosing ship, route and operation. We provide the charterer with CO2 estimates that underline these variations before the freight deal is agreed. We also monitor the voyage and disclose CO2 drivers during the operation. Our CO2 estimates are based on big data, and they show emissions drivers controlled by the charterer. The estimates visualize in a simple way how different decisions drive CO2 and how a CO2 efficient choice can reduce emissions.  

Choosing ships according to carbon efficiency is a key decision influencing emission. Our estimates show a significant variation in CO2 performance across available ships. In the international tanker market, the difference between the worst and best performer can vary by several thousand tonnes of CO2 per voyage. With this information at hand our clients can make informed decisions, based on company targets and strategies.

To close the carbon efficiency loop and make sure that the total amount of emissions is reducing according to the company’s strategies, continuous reporting and learning is necessary. Once the loop is closed, our clients are ready to use the Siglar Carbon Efficient Chartering Platform™ as a tool to continuously improve their sustainability and to outperform their competitors.