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Copenhagen, 2 April 2024 – The Sea Cargo Charter (SCC), a global framework for aligning chartering activities with responsible environmental behaviour to promote international shipping’s decarbonisation, is expanding its scope four years after its inception. With 37 signatories already on board, this expansion aims to increase the initiative’s impact on transparency and shipping decarbonisation across the entire industry by allowing charterers and shipowners to monitor and report their emissions under a common framework.  

The Sea Cargo Charter provides a common, global baseline for assessing and disclosing the climate alignment of chartering activities of charterers and shipowners. It enables signatories to quantitatively evaluate and disclose whether their chartering activities align with internationally adopted climate goals, thus serving as a crucial tool to support responsible decision-making.  

“The expansion of the Sea Cargo Charter to fully include shipowners signals a new milestone in the global endeavour to decarbonise shipping,” said Rasmus Bach Nielsen, Sea Cargo Charter Chair and Global Head of Fuel Decarbonisation at Trafigura. “By uniting owners and charterers under a common framework and methodology, we hope our initiative can further enhance transparency and foster collaboration across the industry, thereby amplifying its impact.”  

The Charter, launched in 2020, establishes a common baseline and enables charterers and now shipowners to assess whether their activities align with internationally adopted climate goals, as outlined by the International Maritime Organization. This expansion to shipowners is about increasing impact and maximising collaboration between business partners, intending to expedite the transition to decarbonised shipping through more transparency across the whole industry. Notably, the Sea Cargo Charter is consistent with the ambitious goals set by the IMO’s 2023 GHG Strategy. Signatories will measure their climate alignment against the latest 2023 IMO ambitions for the first time in its forthcoming annual report, scheduled for publication in June.  

“By enabling broader collaboration within the Sea Cargo Charter, we are forging a new path committed to sustainable practices and transparency for the industry,” said Eman Abdalla, Global Operations & Supply Chain Director at Cargill Ocean Transportation. ‘Widening access to the Charter acknowledges shipowners’ crucial role in reducing shipping emissions, enabling key stakeholders to report transparently within a unified framework and gain crucial data-driven insights to reduce emissions.”  

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For media inquiries, please contact:  

Molly P. Hannon, Senior Communications Manager  

Email: mph@globalmaritimeforum.org
Mobile: +45 53 76 67 87
 

About the Sea Cargo Charter  

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial greenhouse gas strategy prescribed that international shipping must reduce its total annual emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century. The IMO revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023 sets a new ambition to reach net-zero GHG emissions from international shipping by or around, i.e. close to, 2050. The Sea Cargo Charter has recently aligned its ambition with these latest goals by agreeing to report in 2024 and onwards against (i) a full decarbonisation target in 2050, (ii) interim targets in 2030 and 2040 and (iii) the consideration of lifecycle emissions of fuels including further greenhouse gas (GHG) species.  

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions.  

 

United Arab Emirates, [20] December 2023 – Emirates Global Aluminium, the world’s largest ‘premium aluminium’ producer and the biggest industrial company in the United Arab Emirates outside oil and gas, has become the first aluminium producer and the first Middle East company to join the Sea Cargo Charter.  

The Sea Cargo Charter sets a global framework to assess and disclose the climate alignment of ship chartering activities to reduce the annual greenhouse gas emission of global shipping to net zero by around 2050, in line with the goals of the International Maritime Organization, the United Nations agency responsible for regulating global shipping. 

EGA ships some 22 million tonnes of aluminium, bauxite and raw materials around the world each year. While the production of raw materials accounts for the bulk of EGA’s scope 3 emissions, global shipping accounts for a meaningful proportion.  

The global shipping industry as a whole was responsible for two per cent of anthropomorphic greenhouse gas emissions in 2022, according to the International Energy Agency.  

Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said: “The aluminium EGA produces plays an essential role in the development of a more sustainable society. It is also important how sustainably it is produced, and this includes shipping raw materials to our production sites and bauxite and metal to our customers worldwide. EGA has committed to reaching net zero by 2050, including from our supply chain. Joining the Sea Cargo Charter will enable us to further improve our performance and achieve our goal to reach net zero from supply chain activities.”  

Eman Abdalla, Sea Cargo Charter Vice Chair, and Global Operations Director at Cargill, said: “We are pleased to have EGA as the first global aluminium producer and Middle East industrial company to join the Sea Cargo Charter. The journey to more sustainable shipping starts with a commitment to transparency, a unified methodology, and emissions reporting. We hope EGA’s example inspires other participants in the aluminium industry to follow a similar path towards carbon emissions transparency in their supply chain.” 

In 2022, EGA signed an agreement with one of its shipping partners, “K” Line to develop and implement new marine decarbonisation technologies suitable for EGA’s bulk cargo shipping routes in the eastern Atlantic Ocean, Mediterranean Sea and Indian Ocean.
Ends 

 Media contact at EGA: 

• Simon Buerk  
• sbuerk@ega.ae  
• +971 56 3111 536 

Media contact for Sea Cargo Charter:  

• Molly P. Hannon 
• mph@globalmaritimeforum.org  
• +45 53 76 67 87 

About EGA 

Since 1975, when it was founded as Dubai Aluminium by His Highness Sheikh Rashid bin Saeed Al Maktoum, Emirates Global Aluminium has been innovating aluminium to make modern life possible. 

Today EGA is the world’s biggest ‘premium aluminium’ producer and the largest industrial company in the United Arab Emirates outside the oil and gas industry.  

EGA is equally-owned by Mubadala Investment Company of Abu Dhabi and the Investment Corporation of Dubai. It is the largest company jointly owned by the two Emirates. 

EGA is an integrated aluminium producer, with operations from bauxite mining to the production of cast primary aluminium. EGA operates aluminium smelters in Jebel Ali and Al Taweelah, an alumina refinery in Al Taweelah and a bauxite mine and associated export facilities in the Republic of Guinea. 

EGA’s aluminium is the second largest made-in-the UAE export after oil and gas. In 2022, EGA sold 2.72 million tonnes of cast metal. EGA is the only UAE producer and makes the UAE the fifth largest aluminium producing nation in the world.  

EGA has more than 400 customers in over 50 countries. In 2022, value-added products accounted for 78 per cent of EGA’s cast metal sales.  

EGA’s aluminium is primarily used in the construction, automotive, packaging, aerospace and electronics industries. 

Around 10 per cent of EGA’s aluminium production is sold in the UAE to around 26 downstream aluminium companies that make products with EGA’s aluminium. The growing broader aluminium sector in the UAE supports almost 48,000 jobs. EGA itself employs around 6,800 of these people including more than 1,200 UAE Nationals.  

EGA has focused on technology development for over 30 years. EGA has used its own technology for every smelter expansion since the 1990s and has retrofitted all its older production lines. In 2016 EGA became the first UAE industrial company to licence its core industrial process technology internationally. 

As a corporate citizen of the UAE, EGA aspires in all its operations to be measured amongst the world’s leading metals and mining companies in meeting its environmental and social responsibilities. In 2017, EGA became the first Middle East headquartered company to join the Aluminium Stewardship Initiative, a global programme to foster greater sustainability and transparency in the aluminium industry. In 2019, EGA’s Al Taweelah site became the first in the Middle East to receive certification from ASI for its sustainability practices and performance. EGA’s Jebel Ali site was certified in 2021. EGA’s bauxite mining subsidiary, Guinea Alumina Corporation, achieved the first ASI certification in Guinea in 2023. Al Taweelah alumina refinery was certified later in 2023, with the result that EGA now has all of its global operations certified to the aluminium industry’s internationally recognised standard for environmental and social performance and governance. 

In 2021, EGA began production of CelestiAL solar aluminium, produced with solar power from the Mohammed Bin Rashid Al Maktoum Solar Park on the outskirts of Dubai. EGA is the first company in the world to make aluminium commercially using the power of the sun.   

EGA was formed in 2014 through the merger of Dubai Aluminium and Emirates Aluminium. 

EGA’s Jebel Ali aluminium smelter began production as DUBAL in 1979. At almost five square kilometres, this site is five times bigger than Dubai Mall. 

EMAL started production in 2009 and its Al Taweelah aluminium smelter was the largest single-site aluminium smelter in the world when completed. EGA’s Al Taweelah site is five times bigger than Al Maryah Island at six square kilometres.  

EGA has its own power stations at both sites, producing electricity to meet its needs. EGA’s electricity generation capacity is 6,474 megawatts, making EGA the third largest electricity generator in the UAE after the Dubai and Abu Dhabi utilities. EGA also produces water through desalination units at its power plants.  

EGA began production at Al Taweelah alumina refinery in April 2019. EGA’s alumina refinery is the first in the UAE and only the second in the Middle East. The project reduces the UAE’s dependence on imported alumina and supplies over 45 per cent of EGA’s needs. 

Bauxite exports from Guinea Alumina Corporation, EGA’s wholly-owned subsidiary in Guinea, began in August 2019. The GAC project was one of the largest greenfield investments in Guinea in over 40 years. 

About the Sea Cargo Charter

The Sea Cargo Charter establishes a framework for assessing and disclosing the climate alignment of ship chartering activities around the globe. It sets a benchmark for what it means to be a responsible charterer in the maritime sector and provides actionable guidance on how to achieve this. The Sea Cargo Charter is consistent with the policies and ambitions of the International Maritime Organization (IMO), including its ambition for net-zero emissions from international shipping “by or around” 2050, with indicative checkpoints in 2030 and 2040 compared to 2008. As a result, the Sea Cargo Charter enables bulk ship charterers – and soon also ship owners – to align their activities with responsible environmental behaviour and incentivise international shipping’s decarbonisation – to shape a better future for maritime shipping and society. 

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions. 

 

 

The Sea Cargo Charter (SCC) is to revise its reporting framework, aligning its trajectory with the International Maritime Organization’s (IMO) revised greenhouse gas (GHG) strategy and expanding its current scope to include ship owners.

COPENHAGEN, 5 December – The Sea Cargo Charter (SCC) will significantly revise its reporting ambition, aligning its trajectory with emission reduction goals in response to the International Maritime Organization’s (IMO) revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023.

In parallel with aligning its trajectory, the SCC is set to expand its current membership scope to include shipowners, demonstrating a commitment to industry inclusivity and sustainable practices. With 37 signatories representing over 17% of total bulk cargo transported by sea annually, the SCC unites to enhance data sharing, boost transparency, and create accountability across the maritime supply chain. See the list of 37 Signatories here.

“Today, as representatives of the Sea Cargo Charter, we announce a revised trajectory in response to the latest IMO ambition unveiled during MEPC80 in July,” said Rasmus Bach Nielsen, Sea Cargo Charter Chair and Global Head of Fuel Decarbonisation at Trafigura. “The Sea Cargo Charter aligns shipping emissions reporting with the new IMO ambition and expands its scope, allowing all ship owners to report under the same framework if they so wish—further demonstrating the Charter’s proactive stance in fostering transparency and sustainability across the maritime industry.”

Decarbonisation Trajectory Update

The SCC is designed as an ever-evolving framework that assesses and publishes climate alignment of charterers who voluntarily decide to join, calculating the degree to which the voyage carbon intensity of a vessel category is in line with global decarbonisation trajectory(ies). Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, initiatives like the Sea Cargo Charter contribute significantly to promoting comprehensive climate considerations amongst key players in the maritime sector.

The updated alignment with the IMO’s latest ambition to reach net-zero GHG emissions in the shipping sector by approximately 2050, featuring indicative checkpoints in 2030 and 2040 and employing a full lifecycle well-to-wake approach ^[1], underscores the commitment to support charterers and shipowners throughout the transition process, offering data-driven insights on best practices and opportunities for emission reduction.

The IMO’s evolving ambition is propelling the industry closer to a 1.5°C future. Building on past efforts, signatories will continue to evaluate the necessity of an additional trajectory for consistent climate alignment reporting with a 1.5°C future.

Robust framework for shipowners

By broadening the current scope, to be effective in 2024, signatories incorporate the key role played by ship owners in the maritime supply chain into the initiative. The objective is to elevate transparency on emissions across the shipping ecosystem with the end goal to reduce emissions, offering ship owners a robust and standardised methodology and framework for reporting and disclosing emissions data associated with their activities.

“Adopting IMO’s revised GHG strategy as well as opening the door to owners are two critical milestones for the Sea Cargo Charter as this will accelerate gaining traction within the industry,” said Eman Abdalla, Global Operations & Supply Chain Director at Cargill Ocean Transportation. “By increasing accessibility, improving the quality of data and encouraging the collaboration between charterers and shipowners, we expect a knock-on effect of pushing standards for monitoring emissions and facilitating well-informed decision-making.”

[1] considering from now on a full life cycle approach of greenhouse gas (GHG) emissions (move from tank-to-wake (TtW) to well-to-wake (WtW)

For media inquiries, please contact:

Molly P. Hannon, Senior Communications Manager

Email: mph@globalmaritimeforum.org

Mobile: +45 53 76 67 87

About the Sea Cargo Charter

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial greenhouse gas strategy prescribed that international shipping must reduce its total annual emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century. The IMO revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023 sets a new ambition to reach net-zero GHG emissions from international shipping by or around, i.e. close to, 2050. Three major changes from the current Sea Cargo Charter methodology are required in order to align the SCC ambition to the IMO Revised Strategy which are (i) decarbonisation target in 2050, (ii) interim targets and (iii) the consideration of lifecycle emissions of fuels including further greenhouse gas (GHG) species.

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions.

Back-to-back with the Global Maritime Forum’s Annual Summit in Athens on October 17, the Poseidon Principles for Financial Institutions, Poseidon Principles for Marine Insurance, and Sea Cargo Charter came together for the first time to co-host an event at the Piraeus Marine Club in Greece, “Transparent Emissions Reporting: Navigating Sustainable Shipping.”

These three initiatives, which originated in collaboration with the Global Maritime Forum, all share a common objective: fostering transparency on emissions reporting with the aim to contribute to reducing carbon emissions. They establish global frameworks for evaluating and disclosing the climate emissions of ship finance portfolios, hull and machinery insurance portfolios, and ship chartering activities, all with the overarching goal of advancing the decarbonisation of the shipping industry.

The event brought together more than 60 influential stakeholders representing various sectors within the maritime ecosystem, including charterers, financial institutions, marine insurers, shipowners, service providers, and brokers.

Throughout this event, attendees engaged in advanced discussions on the common challenges confronting shipping’s green transition. They explored the potential for collaborative efforts to address the need to decarbonise shipping and critical issues within the supply chain. The discussions focused on the crucial role of transparency and open dialogue in understanding emissions data linked to shipping activities, addressing increasing regulations and shifting consumer expectations to act around one of the most pressing challenges of our time: climate change. Furthermore, participants emphasised how transparency can function as a vital tool for managing risks, particularly considering the industry’s evolving landscape.

Common challenges and specificities

Signatories of these initiatives highlighted several benefits of their membership, including the focus on transparency, the ability to manage risks proactively, sharing experiences and methods with peers, responding to stakeholders’ expectations, enabling meaningful data-based discussions with clients, and avoiding duplication of efforts.

After kicking off this discussion, representatives from all three initiatives deliberated on ways to sustain their significance and explored how their initiatives could bolster industry-wide aspirations.

The Poseidon Principles for Financial Institutions reflected on the industry’s progress since 2015, pointing to the role of transparency and digitalisation in providing data for better understanding of shipping emissions and global regulations, such as the IMO’s revised ambition to reach net-zero greenhouse gas emissions in the shipping sector close to 2050. Recently, the Poseidon Principles announced their decision to revise their current trajectories accordingly in their 4th Annual Disclosure Report, which will be published on 14 December 2023. They also highlighted sectoral initiatives such as the Task Force on Climate-Related Financial Disclosures, emphasising the financial institution’s commitment to transparency and decarbonisation.

The Poseidon Principles for Marine Insurance acknowledged the longstanding perception of marine insurance as a traditional industry. Initiatives such as these principles have the potential to lead the way in promoting transparency, innovation and de-risking the transition. Transparency is already a significant factor in marine insurance, facilitating meaningful conversations and support with clients regarding their decarbonisation journey.

The Sea Cargo Charter discussed the challenges of achieving net-zero emissions by 2050, emphasising the value of employing a standardised methodology for emissions reporting to guide industry-wide business decisions. The Sea Cargo Charter plays a vital role in meeting the industry’s demand for accurate data and offering unparalleled insights through data collection. Moreover, the Charter highlighted the role of transparent data sharing in advancing a more sustainable future.

This event highlighted the shipping industry’s journey towards transparent emissions reporting and its role in achieving sustainable shipping practices. Attendees inquired about various aspects of emissions reporting, including how to explain and communicate data, standardisation, and collaboration with international organisations. The need for transparency in data and the recognition of the industry’s challenges were prominent themes in the discussion. While challenges still exist, the shared commitment to transparency and data sharing has the potential to drive the industry toward a greener and more transparent future.

The three initiatives warmly thank all participants who attended this event. We would also like to thank our partners for their involvement in this worldwide endeavour to advance emissions reporting for the shipping industry. This is an ongoing voyage that necessitates collective effort. We trust that our community will inspire their colleagues to join us in this mission and invite others to do the same.

History behind these initiatives

The Poseidon Principles were inaugurated in 2019 due to intensive workshops held following the Global Maritime Forum Annual Summit in Hong Kong in 2018. Since its inception, the principles have garnered the support of 34 signatories from 13 countries, collectively representing nearly two-thirds of global ship finance.

The Sea Cargo Charter was established in 2020 and has since gained the commitment of 36 signatories hailing from 13 countries. These signatories collectively account for more than 17% of the total bulk cargo transported by sea in the span of a year.

In 2021, the Poseidon Principles for Marine Insurance came into being with ten signatories and nine affiliate members representing nine countries.

These initiatives, despite their distinct focuses, all share a sense of urgency, prioritise full-value chain collaboration, and strive to enhance transparency. Additionally, they are all built upon a common foundation of four key principles centred around assessment, accountability, enforcement, and transparency.

For general inquiries, please contact: Poseidon Principles and Poseidon Principles for Marine Insurance: info@poseidonprinciples.org / Sea Cargo Charter: info@seacargocharter.org

For media inquiries, please contact: Molly P. Hannon, Senior Communications Manager. mph@globalmaritimeforum.org  +45 53 76 67 87

 

The Sea Cargo Charter, a global framework for assessing and disclosing the climate alignment of chartering activities, today released its annual report covering 2022, highlighting the disclosure of emissions data from shipping companies’ activities.

 

14 June 2023—The 33 Signatories, which disclose the climate alignment of their chartering activity for 2022, account for more than 17% of total bulk cargo transported by sea over the year. Their average reporting rate has increased since last year to 90%.

It is important to highlight, that it is not possible to compare the scores of individual Signatories to one another for several reasons: Signatories have different portfolios, different ship types and different numbers of voyages. Furthermore, the Signatories have different operational and trade profiles with particular trade characteristics that affect their annual activity alignment.

In this second edition of the Sea Cargo Charter Annual Disclosure Report, the average climate alignment of Signatory companies is at the same level as in 2021 but the variation of data has decreased significantly. This is due to several reasons, including changes carried out to the chemical and liquified gas tanker baselines, as well as trade patterns and better operational efficiency.

“While achieving full decarbonisation by 2050 may seem far off, the maritime industry is well aware of the importance of decisions taken now in order to achieve this goal. The data in the Sea Cargo Charter report shows Signatories’ dedication to measuring and reporting transparently their climate impact as an essential first step towards reducing emissions,” says Rasmus Bach Nielsen, Chair of the Sea Cargo Charter Association and Global Head of Fuel Decarbonisation at Trafigura

Calls for ambitious MEPC80
“We would like to add our voice to those calling for ambitious targets on decarbonisation to be adopted at the IMO meeting to adopt a revised Strategy for Reduction of Greenhouse Gas Emissions from ships,” Rasmus Bach Nielsen says.

Nielsen hopes and believes the International Maritime Organization (IMO) will agree on significantly more ambitious targets at the upcoming Marine Environment Protection Committee meeting (MEPC80) in July.

“Achieving these reduction targets is essential for the industry to play its role in addressing climate change, and it will require an appropriate policy framework that allows companies to take the commercial decisions needed to accelerate decarbonisation and it will also assist Sea Cargo Charter in establishing future enhanced baseline targets,” he says.

He highlights the importance of a regulatory framework.

“The key is that while it is fine to have big targets we also need a regulatory framework where it can be realistic to reach these,” he says.

At the association’s annual meeting in April, Signatories continued the ongoing discussion of how to make the reporting more robust and whether to raise the ambition level. However, many members were keen to wait for the outcome of the MEPC80 meeting, as the results will have big implications on the industry’s ability to deliver on the Paris Agreement temperature increase goal.

Complex scores
The simple average score of reporting Signatories in the Sea Cargo Charter report, i.e., all reported climate alignment scores calculated with equal weight, was 1.6% and the median was 2.7%. Without data on each Signatory’s total shipping activity, it was not possible to calculate a weighted average, which would be a more appropriate statistic to summarise the distribution of scores given that Signatories have different trades and levels of activity.

Scores ranged from -21.8% to 21.4%, and 60% of reporting Signatories had a score of +5% or less. These alignment scores are based on an average reporting rate of 90% from Signatories of their annual activity. A negative score implies alignment while a positive score denotes misalignment to the decarbonisation trajectory.

“Our Signatories recognise that their role in the industry affords them opportunities to promote responsible environmental stewardship and drive change throughout the maritime value chain. The data in the report is thus a basis for further developing cooperation with shipping business partners. The data will provide insights that enhance our joint strategic decision-making and help us address climate change,” says Eman Abdalla, Vice Chair of the Sea Cargo Charter Association and Global Operations Director at Cargill Ocean Transportation

Eman further elaborates:

”To make our voice louder, we are looking to open up our membership scope to not only charterers and cargo owners but also shipowners so that they can join us and make the Sea Cargo Charter a truly industry-wide initiative where we together unite and work towards one global transparent and standardized emission reporting system,” she says.

According to Abdalla it ought to be in the interest of all industry stakeholders to have common alignment and transparency on emissions.

Read the Sea Cargo Charter Annual Disclosure Report 2023.

For further information, contact Head of Communications, Global Maritime Forum, Rasmus Nord Jørgensen at rnj@globalmaritimeforum.org.

About the Sea Cargo Charter
The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial greenhouse gas strategy prescribes that international shipping must reduce its total annual emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century.

Rasmus Bach Nielsen (Trafigura Maritime Logistics) was elected as Chair and Eman Abdalla (Cargill Ocean Transportation) was elected Vice Chair of the Sea Cargo Charter Association.

 

10 May 2023-At the 2023 Annual Meeting of the Sea Cargo Charter Association in Copenhagen, the 36 Signatories elected new Steering Committee members and discussed past and future activities. In total, 12 member companies were elected to the Steering Committee to coordinate the Association on behalf of its members.

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. Charterers and cargo owners play an important role in the industry’s path to zero emissions. Transparency and standardisation are important steps on that journey for both the cargo owners and ship owners because it enables them to have a data-based conversation on their carbon footprint.

“I am honoured to be elected as Chair of the Steering Committee, and excited to continue all the great work that is already underway. The mindset regarding climate alignment has changed faster than we could have imagined in the past few years, and I look forward to continuing the work on global standardised and transparent emission reporting which will assist everyone in pushing shipping’s green transition forward,” says Rasmus Bach Nielsen, Global Head, Fuel Decarbonisation, Trafigura Maritime Logistics and new Chair of the Sea Cargo Charter Association.

Each year, the association publishes its Annual Disclosure Report, which details the climate impact of the member companies. The next report will be published on June 14.

Rasmus Bach Nielsen is replacing Jan Dieleman as Chair, stepping up from Vice Chair. Claire Wright (Shell) was reelected as Treasurer of the Steering Committee.

The association has grown significantly since it was established in October 2020, but the ambition is to get many more new members, for example from the mining industry and from a wider geographical spread.

“We have accomplished so much with the Sea Cargo Charter in the past few years. Establishing a common, global baseline to assess and disclose chartering activities’ climate alignment is a critical step in the decarbonisation efforts of the industry as it provides insights for continuous improvements and interventions. I am confident in the newly elected Steering Committee and look forward to following future progress,” says Jan Dieleman, President, Cargill Ocean Transportation.

Eman Abdalla, Global Operations Director, Cargill Ocean Transportation was elected as new Vice Chair of the Association, and she looks forward to expanding the membership.

“The Sea Cargo Charter is a critical framework that brings transparency, standardisation, and alignment to the shipping industry. I am honoured to be elected as Vice-Chair and look forward to working tirelessly to expand our membership base across industries and geographies to achieve our goal of widespread adoption, making zero carbon shipping a reality,” she says.

The Sea Cargo Charter Association Steering Committee counts 14 member companies.

The Steering Committee now consists of:

Rasmus Bach Nielsen, Trafigura Maritime Logistics (Chair); Eman Abdalla, Cargill Ocean Transportation (Vice Chair); Claire Wright, Shell (Treasurer); Engebret Dahm, Torvald Klaveness; Hans Christian Jensen, ADM; Heidi Aakre, Equinor; Henrik Røjel, Norden; Jeff Wakker, Viterra; Jürgen Willemsen, Dow; Justine Clark, Shell; Marcio Valentim Moura, Bunge; Martin Viquesnel, Louis Dreyfus Company; Matt Turns, Chevron; Patrick Heise, ADM; Peter Lye, Anglo American; Raghav Gulati, Anglo American; Seb Landerretche, Louis Dreyfus Company; Sebastien Roche, TotalEnergies.

Global Maritime Forum act as the secretariat for the Sea Cargo Charter.

 

More information about the members of the Steering Committee is available here.

For further information, contact Head of Communications, Rasmus Nord Jørgensen at rnj@globalmaritimeforum.org.

 

About the Sea Cargo Charter

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial GHG strategy prescribes that international shipping must reduce its total annual greenhouse gas emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century.

Wilmar International, a global agribusiness leader based in Singapore, is the latest company to join the Sea Cargo Charter, a global framework for responsible ship chartering.

15 August 2022 – The Sea Cargo Charter is a global framework for aligning chartering activities with responsible environmental behavior to promote international shipping decarbonization. One of the largest listed companies by market capitalization on the Singapore Exchange, Wilmar International is the seventh company headquartered in Asia to become a Signatory to the framework.

“We take a holistic approach towards reducing our energy consumption, which is a key sustainability priority for Wilmar. It is therefore pivotal that we ensure our continued transparency to our stakeholders when reporting CO2 emissions data for our sea transportation. We further demonstrate our commitment to sustainability, particularly in promoting international shipping decarbonization, by aligning our targets to the assessment of the Sea Cargo Charter,” said Kenny Beh, Wilmar Head of Shipping.

Signatories commit to benchmarking and publicly reporting how their chartering activities align with the IMO’s ambition for GHG emissions from international shipping to peak as soon as possible and to reduce annual GHG emissions by at least 50% by 2050. The first Sea Cargo Charter Annual Disclosure Report, revealing Signatories’ climate alignment scores, was published in June 2022.

“We are delighted to welcome Wilmar to the Sea Cargo Charter. To successfully tackle shipping decarbonization, the geographical diversity of those involved in the effort is key. We encourage other charterers and operators from across the globe to join the Sea Cargo Charter,” added Johannah Christensen, Chief Executive Officer at the Global Maritime Forum.

The Sea Cargo Charter was developed under the auspices of the Global Maritime Forum, which provides secretariat services to the Sea Cargo Charter Association.

To date, Signatories include: ADM, AMAGGI, Anglo American, Bunge, Cargill Ocean Transportation, Chevron, COFCO International, Copenhagen Commercial Platform (CCP), Diamond Bulk Carriers, Dow, Eagle Bulk, Enviva, Equinor, Global Chartering, Golden-Agri Maritime, Gunvor Group, Holcim Trading, K+S Minerals and Agriculture, Klaveness Combination Carriers, Louis Dreyfus Company, Maersk Tankers, Navig8, Norden, Nova Marine Carriers, NYK Bulkship (Atlantic), Rubis Energie, Shell, Signal Maritime Services, Tata Steel, Torvald Klaveness, TotalEnergies, Trafigura, Viterra Chartering, and Wilmar International.

All responsible bulk charterers are invited to join.

About the Sea Cargo Charter

The Sea Cargo Charter is a framework for measuring and reporting the alignment of ship charterers’ activities with climate goals. Recognizing charterers’ role in promoting responsible environmental stewardship throughout the maritime value chain, the Sea Cargo Charter provides them with the tools to foster collaboration with shipping business partners, gain insight to enhance strategic decision-making, and address the impacts of climate change.

The Sea Cargo Charter is built on four principles – Assessment of climate alignment, Accountability, Enforcement, and Transparency – which it shares with the Poseidon Principles for Financial Institutions and the Poseidon Principles for Marine Insurance. Established under the auspices of the Global Maritime Forum, the three initiatives aim to increase the transparency of environmental impacts within global seaborne trade, promote industry-wide change, and support a better future for the industry and society.

For more information, please visit www.seacargocharter.org
Media contact: Tina Maver | Communications Manager | +45 3114 1634 | tm@globalmaritimeforum.org

For the first time, some of the world’s largest energy, agriculture, mining, and commodity trading companies publish the climate alignment of their shipping activities and gain access to new data that will allow them to work with their business partners in driving carbon efficiency and reductions and align their chartering activities with climate action goals.

Copenhagen, 15 June 2022 – Today, ship charterers and operators representing over 15% of total bulk cargo transported by sea in 2021 deliver on their commitment to the Sea Cargo Charter, a global framework for aligning ship chartering activities with society’s goals. Signatories to the Sea Cargo Charter commit to measuring and publicly disclosing the alignment of their chartering activities with the ambition to reduce total GHG emissions from international shipping by at least 50% by 2050, as set out by the International Maritime Organization, the UN agency regulating global seaborne trade.

“Thanks to unprecedented levels of data sharing, we better understand the climate impacts of our business activities at a much more granular level, and can back up operational and strategic decision-making with real data,” says Jan Dieleman, President, Cargill Ocean Transportation and Chair of the Sea Cargo Charter Association. “Signatories of the Sea Cargo Charter have diverse profiles and activities and this report holds us accountable to our targets and allows us all to play our part in addressing the environmental impacts of global maritime trade on people and the planet.”

The Sea Cargo Charter Annual Disclosure Report 2022 reveals the climate alignment scores of 25 charterers and operators and provides insight into the maritime industry’s current state of progress vis-a-vis the IMO’s goal of reducing shipping emissions by at least 50% by 2050. The Signatories reporting this year are ADM, Anglo American, Bunge, Cargill, COFCO International, Copenhagen Commercial Platform (CCP), Diamond Bulk Carriers, Dow, Eagle Bulk, Enviva, Equinor, Gunvor, Holcim Trading, Klaveness Combination Carriers, Louis Dreyfus Company, Maersk Tankers, Norden, Nova Marine, NYK Bulkship (Atlantic), Shell, Signal Maritime Services, Tata Steel, Torvald Klaveness, TotalEnergies, and Trafigura. Signatories that joined the Sea Cargo Charter after September 2021 are not required to report before 2023.

“The first reporting of the climate alignment scores is a significant milestone for the Sea Cargo Charter, as well as for individual Signatory companies. This report represents many months of effort and collaboration between Signatories and our business partners. We are on a journey that will allow us to reduce our climate impact year over year, and this first result is a huge step in the right direction. We invite all responsible operators and charterers to join us on this journey,” adds Rasmus Bach Nielsen, Global Head Fuel Decarbonization at Trafigura and Vice Chair of the Sea Cargo Charter Association.

The report includes emissions data collected by Signatories from ship owners and operators for chartering activities in 2021 and compares it to a decarbonization trajectory for the same year. It shows that 12 of 25 reporting Signatories are aligned with the International Maritime Organization’s target for their segments. The report also contains commentary from charterers on key takeaways from their climate assessment and reflections on how this new insight has and will inform their business activities in the future.

Building on the growing global momentum toward climate action and climate risk disclosure, the Sea Cargo Charter was launched in October 2020 with 17 Signatories. Today, the number of Signatory companies has grown to 33.

The Annual Disclosure Report 2022 was produced by the Global Maritime Forum, which performs secretariat services for the Sea Cargo Charter, with expert support provided by UMAS and Smart Freight Centre.

 

Learn more about the Sea Cargo Charter Annual Disclosure Report 2022 here.

Media contact: Tina Maver | Communications Manager | +45 3114 1634 | tm@globalmaritimeforum.org

 

About the Sea Cargo Charter

The Sea Cargo Charter is a framework for measuring and reporting the alignment of ship charterers’ activities with climate goals. Recognizing charterers’ role in promoting responsible environmental stewardship throughout the maritime value chain, the Sea Cargo Charter provides them with the tools to foster collaboration with shipping business partners, gain insight to enhance strategic decision-making, and address the impacts of climate change.

The Sea Cargo Charter is built on four principles – Assessment of climate alignment, Accountability, Enforcement, and Transparency – which it shares with the Poseidon Principles for Financial Institutions and the Poseidon Principles for Marine Insurance. Established under the auspices of the Global Maritime Forum, the three initiatives aim to increase the transparency of environmental impacts within global seaborne trade, promote industry-wide change, and support a better future for the industry and society.

The Athens-headquartered pool joins the global framework for responsible ship chartering as the first Greek company.

Copenhagen, Athens, 17 May 2022 – Signal Maritime Services, a commercial ship management company with a focus on digital analytics and management methods, is the 33^rd company to join the Sea Cargo Charter, and its first Greek Signatory.

“The Sea Cargo Charter is a great initiative that assists the alignment of all maritime partners towards the industry’s decarbonization goals. We are excited to be part of an association that acts as a key enabler for environmentally conscious changes and we very much look forward to contributing to this endeavour,” said Panos Dimitracopoulos, CEO, Signal Maritime Services.

Sea Cargo Charter Signatories commit to benchmarking their bulk chartering activities against the IMO ambition to reduce GHG emissions from international shipping by at least 50 percent by 2050. Signatories report their climate alignment scores on an annual basis.

“I welcome Signal Maritime Services’ decision to join the Sea Cargo Charter,” added Jan Dieleman, President, Cargill Ocean Transportation and Chair of the Sea Cargo Charter Association. “They bring a unique perspective as the first Greek Signatory and good understanding of the data linked to our initiative and I look forward to their contributions.”

Measuring and tracking emission data is the first necessary step in any company’s or industry’s decarbonization journey

To date, Signatories include: ADM, AMAGGI, Anglo American, Bunge, Cargill Ocean Transportation, Chevron, COFCO International, Copenhagen Commercial Platform (CCP), Diamond Bulk Carriers, Dow, Eagle Bulk, Enviva, Equinor, Global Chartering, Golden-Agri Maritime, Gunvor Group, Holcim Trading, K+S Minerals and Agriculture, Klaveness Combination Carriers, Louis Dreyfus Company, Maersk Tankers, Navig8, Norden, Nova Marine Carriers, NYK Bulkship (Atlantic), Rubis Energie, Shell, Signal Maritime Services, Tata Steel, Torvald Klaveness, TotalEnergies, Trafigura, and Viterra Chartering.

All responsible bulk charterers are invited to join.

About Signal Maritime Services

Signal Maritime Services is a commercial ship manager currently operating two pools with 38 MR2 and Aframax tankers. The company is focused on providing flexible, high-performance, and sustainable commercial management for a growing, modern fleet. The commercial team is leveraging the advanced data analytics of the Signal Group, as well as proprietary technological tools aiming to consistently deliver superior earnings and outperform the competition.

Signal Maritime Services is part of the Signal Group, a company with a vision to make global shipping more efficient, effective and profitable through the application of technology and market experience. The diverse and fast-growing team of product engineers, computer scientists and commercial shipping professionals is headquartered in Athens with global presence.

For more, please visit www.thesignalgroup.com

About the Sea Cargo Charter

The Sea Cargo Charter is a framework for measuring and reporting the alignment of ship charterers’ activities with climate goals. Recognizing charterers’ role in promoting responsible environmental stewardship throughout the maritime value chain, the Sea Cargo Charter provides them with the tools to foster collaboration with shipping business partners, gain insight to enhance strategic decision-making, and address the impacts of climate change.

The Sea Cargo Charter is built on four principles – Assessment of climate alignment, Accountability, Enforcement, and Transparency – which it shares with the Poseidon Principles for Financial Institutions and the Poseidon Principles for Marine Insurance. Established under the auspices of the Global Maritime Forum, the three initiatives aim to increase the transparency of environmental impacts within global seaborne trade, promote industry-wide change, and support a better future for the industry and society.

For more information, please visit www.seacargocharter.org
Media contact: Tina Maver | Communications Manager | +45 3114 1634 | tm@globalmaritimeforum.org

Golden-Agri Maritime becomes the 32nd Signatory to the global framework for aligning chartering activities with responsible environmental behavior.

11 May 2022 – Specialising in palm oil shipping, Golden-Agri Maritime is the latest company to join the Sea Cargo Charter, a framework for measuring and reporting the climate impact of ship chartering activities.

“As part of Golden Agri-Resources’ integrated shipping and logistic arms, we have an essential role to play to ensure our seed to shelf business operates responsibly. By joining the Sea Cargo Charter, we close the loop of knowledge on our GHG emissions from the plantations to our customers. This is a crucial step to set goals, strategies, and work towards lowering our emissions and playing an active role in minimising shipping’s global carbon footprint,” said Bjorn Stignor, CEO and Head of Logistics at Golden-Agri Maritime.

Sea Cargo Charter Signatories commit to disclosing, on an annual basis, how their bulk chartering activities align with the IMO’s ambition to reduce GHG emissions from international shipping by at least 50 percent by 2050. Collecting and benchmarking emissions data provides Signatories with an indication of their current CO2 emissions and a data-backed basis for strategic decision-making.

“I am pleased to welcome Golden-Agri Maritime to the Sea Cargo Charter. As the number of our Signatories grows, we send a strong message that decarbonization is a priority for charterers and that we are willing to play our part in shipping’s transition to a more sustainable future,” added Rasmus Bach Nielsen, Global Head Fuel Decarbonisation at Trafigura and Vice Chair of the Sea Cargo Charter Association.

Golden Agri-Maritime is responsible for shipping and distributing Golden Agri Resources’ (GAR) products worldwide.

Other Signatories include: ADM, AMAGGI, Anglo American, Bunge, Cargill Ocean Transportation, Chevron, COFCO International, Copenhagen Commercial Platform (CCP), Diamond Bulk Carriers, Dow, Eagle Bulk, Enviva, Equinor, Global Chartering, Gunvor Group, Holcim Trading, K+S Minerals and Agriculture, Klaveness Combination Carriers, Louis Dreyfus Company, Maersk Tankers, Navig8, Norden, Nova Marine Carriers, NYK Bulkship (Atlantic), Rubis Energie, Shell, Tata Steel, Torvald Klaveness, TotalEnergies, Trafigura, and Viterra Chartering.

All responsible bulk charterers are invited to join.

About Golden-Agri Resources

GAR is one of the leading palm-based seed-to-shelf agribusiness committed to responsible palm oil production and has been at the forefront of palm oil sustainability for over a decade. It has total planted area of 536,013 hectares (including plasma smallholders) as at 31 December 2021, located in Indonesia. Its integrated operations focus on the technology-driven production and distribution of an extensive portfolio of palm-based products.

Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$2.3 billion as at 31 December 2021. Flambo International Limited, an investment company, is currently GAR’s largest shareholder, with a 50.52 percent stake. GAR has several subsidiaries, including PT SMART Tbk which was listed on the Indonesia Stock Exchange in 1992.

As an integrated agribusiness, GAR delivers an efficient end-to-end supply chain, from responsible production to global delivery. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals; as well as merchandising palm products globally. GAR’s products are delivered to a diversified customer base in over 70 countries through its global distribution network with shipping and logistics capabilities, destination marketing, on-shore refining and ex-tank operations in many countries. GAR also has complementary businesses such as soybean-based products in China, sunflower-based products in India, as well as sugar businesses.

Golden-Agri Maritime (GM) is the chartering arm of Golden Agri-Resources that manages transportation needs for international trade. GM is responsible for shipping and distributing crude and refined palm oils and palm kernel oils, oleochemicals, biodiesels, sugar, and other products to both local and export markets.

For more information, please visit https://www.goldenagri.com.sg/
Media contact: Wulan Suling | Wulan.suling@sinarmas-agri.com

About the Sea Cargo Charter

The Sea Cargo Charter is a framework for measuring and reporting the alignment of ship charterers’ activities with climate goals. Recognizing charterers’ role in promoting responsible environmental stewardship throughout the maritime value chain, the Sea Cargo Charter provides them with the tools to foster collaboration with shipping business partners, gain insight to enhance strategic decision-making, and address the impacts of climate change.

The Sea Cargo Charter is built on four principles – Assessment of climate alignment, Accountability, Enforcement, and Transparency – which it shares with the Poseidon Principles for Financial Institutions and the Poseidon Principles for Marine Insurance. Established under the auspices of the Global Maritime Forum, the three initiatives aim to increase the transparency of environmental impacts within global seaborne trade, promote industry-wide change, and support a better future for the industry and society.

For more information, please visit www.seacargocharter.org
Media contact: Tina Maver | Communications Manager | +45 3114 1634 | tm@globalmaritimeforum.org