The Challenge of Meeting Green Shipping Goals: A Closer Look at the Sea Cargo Charter Report

Just how big a mountain shipping has to climb if it is to keep up with the green goals set by the International Maritime Organization (IMO) has been set in sharp relief with the latest disclosure report from the Sea Cargo Charter, whose members are considered environmental leaders in shipping.

Signatories to the charter were still 12.2% behind the minimum international climate goals set by the IMO in 2024, up from 9% the previous year.

The 34 charterers and shipowners featured in the report represent around 18% of global wet and dry bulk cargo transported by sea in 2024.

External conditions were cited in explaining the difficulties in getting sufficient climate alignment scores.

“Operational barriers such as regional port limitations (e.g. draft restrictions), challenging weather patterns, inefficient routing, and reliance on short-term charters contributed to alignment shortfalls,” signatories to the charter said in a release today.

The Sea Cargo Charter was launched five years ago to provide a global framework for assessing and disclosing the climate alignment of chartering activities. Its primary goal is to promote transparency and accountability in the shipping industry by aligning chartering activities with the climate targets set by the IMO, which aims to reduce greenhouse gas emissions from international shipping by at least 50% by 2050 compared to 2008 levels.

Notable members include ADM, Anglo American, Bunge, Cargill Ocean Transportation, Chevron, COFCO International, Dow, Equinor, Gunvor Group, Klaveness Combination Carriers, Louis Dreyfus Company, Maersk Tankers, Norden, Shell, TotalEnergies, and Trafigura.

The Energy Efficiency Operational Indicator (EEOI) developed by the IMO is the intensity metric used by the Sea Cargo Charter, adapted to reflect the full lifecycle CO2e emissions.

“Being at the crossroads of French, EU and IMO emissions regulations, Rubis values the use of EEOI as a single metric to assess our performance,” said Hervé Chretien, head of supply and shipping at Rubis Energie, a signatory since 2021.

“Sustainability in shipping is now an operational imperative. Customers are looking for partners who can move cargo responsibly,” commented Cheng Fan, head of commercial at Golden-Agri Maritime, a signatory since 2022.