Sea Cargo Charter Calls on Owners to Stay the Course on Decarbonization

Press handout courtesy Klaveness Combination Carriers

The leaders of a prominent pro-decarbonization industry platform are asking shipowners to stay the course on the green transition, despite the unpredictable mood in the international regulatory environment.

Owners have reason for pause when it comes to speaking up about reducing CO2. The U.S. is attempting to remove carbon incentives from the IMO's Net-Zero Framework, putting the agreement's future in doubt. Energy prices are soaring amidst geopolitical uncertainty, drawing the industry's attention away from green-fuel goals.

But the chair and vice-chair of the Sea Cargo Charter - Engebret Dahm, CEO of Klaveness Combination Carriers, and Christian Bonfils, head of the Copenhagen Commercial Platform - say that decarbonization must still happen, and that the enterprises that embrace it now will do better tomorrow.

"We find ourselves more convinced than ever that stepping back right now would be a mistake that our industry as a whole, and individual companies, will come to regret," Dahm and Bonfils wrote.

The Sea Cargo Charter is a mechanism for charterers and owners to track and report their emissions, allowing them to demonstrate transparency and improvement over time. Participation is voluntary, and more than 30 owners and charterers have joined, including Cargill, Equinor and Maersk Tankers, among others. In addition to reporting, the group is a forum for experience-sharing, and members are encouraged to use their reported emissions data to drive internal improvements.

These voluntary efforts continue despite the lack of a global consensus on carbon rules, and the SCC's leaders suggested that the work will pay off in time. "The companies building data systems, internal capabilities, governance structures, and disclosure practices today will be far better positioned when regulatory requirements tighten," Dahm and Bonfils said.