Global Chartering, a joint venture between ArcelorMittal and DryLog, is the latest company to join the pioneering framework for measuring and reporting the climate impact of ship chartering activities.
Copenhagen, 17 March 2022 – The Sea Cargo Charter sets a benchmark for what it means to be a responsible charterer within the maritime sector and provides actionable guidance on achieving this. Less than a year and a half after its launch, the initiative has now grown to 30 Signatories.
“Global Chartering Limited (GCL), a 50/50 joint venture between ArcelorMittal and Drylog, is very pleased to become a Signatory of Sea Cargo Charter and join a network of members highly committed to sustainability and decarbonization of the shipping industry. This will provide a great opportunity to us to work with like-minded organizations and adopt a common approach in shipping emission reporting to join and contribute to the global fight against climate change. At GCL, we remain fully committed to reducing GHG emissions from International Shipping,” said Capt Nitin Mehrotra, General Manager, AM Shipping.
As part of the shipping ecosystem, ship charterers have a role to play in encouraging responsible environmental stewardship. By committing to quantitative climate reporting, Signatories create transparency on the current climate impact of chartering activities and promote accountability to progress.
“I am pleased to welcome Global Chartering to the Sea Cargo Charter. Measuring and reporting GHG emissions enables us to increase our transparency, an important step to understand where we, as a company and collectively as an industry, stand when it comes to our carbon footprint. Just as importantly, it increases our accountability towards the targets we have set ourselves and sends a signal to the maritime industry that decarbonization is a priority for its customers,” added Jan Dieleman, President, Cargill Ocean Transportation and Chair of the Sea Cargo Charter Association.
Signatories assess and disclose the climate alignment of their activities on an annual basis. The climate alignment scores are measured against 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 compared to 2008 levels. The Sea Cargo Charter applies to bulk ship charterers.
To date, Signatories include ADM, 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.
Other responsible bulk charterers are invited to join.
About Global Chartering
Global Chartering Limited (GCL) is a 50:50 shipping joint venture between ArcelorMittal, the leading steel and mining company and DryLog Ltd, a significant player in the dry bulk shipping industry.
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
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