Charterers continue to exclude inefficient vessels
As the efforts of greening the shipping industry continue to increase, charterers representing 20% of global shipped tonnage now have policies in place to avoid using the most inefficient ships based on the GHG emissions rating.
The Mosaic Company, one of the world’s largest producers and marketers of concentrated phosphate and potash crop nutrients, has recently shared its policies on chartering ships using the GHG emissions rating, and the resulting positive business impacts.
In the past two and a half years, usage of the GHG emissions rating and the A to G scale has increased by more than 450%, from 350 million shipped tonnes when Cargill, Huntsman, and Unipec began their usage, to 1.95 billion shipped tonnes today.
The GHG emissions rating is a tool developed by RightShip, the maritime risk-management specialist, and Carbon War Room, a non-profit organisation founded by Sir Richard Branson. The tool, which is available free of charge at ShippingEfficiency.org, allows charterers and other stakeholders to assess the efficiency of vessels.
It utilizes an A to G scale, where A represents the most efficient ships, and G the least efficient. In addition to allowing companies to avoid chartering inefficient vessels, the data held on each individual ship is also used by some companies as a guide for calculating their carbon footprint from maritime shipping. The Mosaic Company uses this data in their assessment of their scope 3 emissions reporting within CDP.
