Taking action on emissions

Taking action on emissions

May 13, 2021

Due to the slow growth of the IMO and concerns about climate quality, the charterers took action. It should be noted that not everyone is happy about this. Brokers and traders should now be familiar with the Global Maritime Forum’s Sea Cargo Charter and associated charter party clause. The world’s top shippers launched the charter last week.

Anglo American, Cargill Ocean Transportation, Dow, Norden, Total and Trafigura all contributed to the creation of this charter. Its main purpose is to create a transparent reporting system for shipping emissions.

This chart, while in line with UN carbonation goals, is outside the scope of its oversight. This has led to criticism of it by BIMCO and the International Chamber of shipping. Their concern is that reporting requirements may not be as efficient as they should be. Because they do not follow the correct IMO procedure.

Also its purpose is to support other initiatives in shipping such as Poseidon Principles. The purpose of these measures is to protect the environment and the climate. Therefore, UN Secretary General welcomed the commitment to transparently report shipping emissions. He added that sea freight is a vital part of national economies. So its voice is essential to persuade governments. So that we can easily move from a gray economy to a green economy. “Several green hydrogen and ammonia projects and net zero emissions vessel concepts, in Chile, Denmark, Japan and Morocco, provide exciting proofs of concept and should be encouraged elsewhere,” he said.

Jan Dieleman believes that a standard GHG reporting process can simplify some of the complexities associated with reporting.

In addition, this charter is applicable to bulk ships charters. Also it  includes those with interest in the cargo on board, those who charter out the vessels, disponent owners and all charterers in the charter party chain. It is based on four principles:

  • Assessment of climate alignment
  • Accountability
  • Enforcement
  • And transparency

For the first principle, the signatories measure on an annual basis:

  • The intensity of greenhouse gas emissions
  • Their total emissions in their rental activities

But in general, according to Jean, the main part of decarbonization is not its technical aspect. It is change the course of several hundred years. But these charters have taken precedence. But can they change the old mindset of sea freight?

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