Implementing carbon offsetting in the shipping industry involves strategic planning and execution to ensure it effectively reduces the environmental impact. Here are some practical tips to help shipping companies offset their carbon emissions: 1. Assess and Calculate Emissions Conduct an Emission Audit: Begin by assessing the current carbon footprint of your shipping operations. This includes fuel…

The shipping industry is a significant contributor to global greenhouse gas (GHG) emissions, responsible for approximately 2-3% of the world's total CO2 emissions. As global trade continues to expand, the industry faces increasing pressure to mitigate its environmental impact. Carbon offsetting is one of the strategies employed to address these emissions. What is Carbon Offsetting?Carbon…

The EU ETS is a cornerstone of the EU's policy to combat climate change and its key tool for reducing greenhouse gas emissions cost-effectively. It is the world's first major carbon market and remains the biggest one. It is an emission cap-and-trade system designed to curtail carbon emissions within the European Union. It sets a…

Drought conditions can have significant impacts on the operations of the Panama Canal, which is a vital maritime route connecting the Atlantic and Pacific Oceans. The Panama Canal relies on a system of locks and a network of artificial lakes and reservoirs, the largest of which is Gatun Lake, to facilitate the passage of ships.…

The EU’s Carbon Border Adjustment Mechanism (CBAM) will put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU, and encourage cleaner industrial production in non-EU countries. The gradual introduction of the CBAM is aligned with the phase-out of the allocation of free allowances under the…

Methanol has been considered as a potential clean fuel for the shipping industry due to its lower emissions compared to traditional marine fuels. It is a type of alcohol with the chemical formula CH3OH and can be produced from a variety of sources, including natural gas, biomass, and carbon dioxide (CO2) captured from industrial processes.…

From November 2022 new frameworks have come in which require ships to improve their energy efficiency in the short term, reducing their greenhouse gas emissions in the longer term and lowering their carbon intensity. From 1 January 2023 it will be mandatory for all ships to calculate their attained Energy Efficiency Existing Ship Index (EEXI)…

BCOs and forwarders can now negotiate collectively to buy zero emission scalable fuels, following the launch of a scheme at Cop (ZEMBA), within the ‘Roadmap to 2040’ for Zero Emission Vessels (coZEV). The ‘Roadmap’ presents new action areas for cargo owners seeking to accelerate deployment of zero emission shipping, engage in maritime decarbonization policy, and…

The new European Commission president today presented the policies of the European Green Deal, which have been largely welcomed by clean transport groups.  Ursula von der Leyen announced a package of measures to make Europe climate-neutral by 2050, which include reducing emissions by half in the next 10 years, a €100bn fund to finance the change,…

Decarbonisation is now the second most important issue for the shipping industry, according to a report released today by the Global Maritime Forum. The Global Maritime Issues Monitor 2019, which surveyed respondents from 46 countries, ranked only the “global economic crisis” ahead of “decarbonisation of shipping” as the issue to have the greatest impact on…