/ menubag72's Library/ Notes/ TopAlpha Shipping Company has joined the Sea Cargo Charter, a lobby group led by a senior executive at Cargill that strives to improve decarbonization decisions.
TopAlpha Shipping Company has joined the Sea Cargo Charter, a lobby group led by a senior executive at Cargill that strives to improve decarbonization decisions.
from web site
The Sea Cargo Charter sets out a common baseline to quantify whether shipping activities align with climate goals. Sea Cargo Charter is consistent with the policies and ambitions of the International Maritime Organization (IMO), a specialized United Nations agency responsible for shipping regulation. This includes the ambition for greenhouse gas emissions from international shipping to peak as soon as possible and to reduce the total annual emissions by 50 percent from 2008 levels by 2050.
Mark Ross, president of TopAlpha Shipping Company, said that the Sea Cargo Charter provides a framework for identifying shipping emissions that contributes to the decarbonization of maritime transportation. It is our pleasure to join and partner with Sea Cargo Charter to enhance transparency and accuracy of reporting, thus fostering responsible environmental practices.
TopAlpha is delighted to be one of our new Sea Cargo Charter members. We look forward to their contribution to our shared goal as a large multinational and an oil major. It is great to have another industry leader join the Charter, committing to our goal to decarbonize shipping, said Jan Dieleman, chair of the Sea Cargo Charter Association and president of Cargills Ocean Transportation Division.
Sea Cargo Charter is backed by global bulk commodity shippers Anglo American, Cargill Ocean Transportation, Dow, Norden, TotalEnergies, Trafigura, Euronav, Gorrissen Federspiel, and Stena Bulk, with assistance from the Global Maritime Forum, Smart Freight Centre, University College London Energy Institute, and Stephenson Harwood. With the changing environment, IMO's policies and regulations will evolve along with the Sea Cargo Charter.
Online Shipping TopAlpha Shipping is based in San Ramon, California, and transports crude oil, liquefied natural gas, and refinery products. On October 17, TopAlpha said it would cut operational emissions to zero by 2050, joining a growing list of energy companies that are reducing carbon emissions.
Reuters (LONDON) - Much like the coronavirus pandemic, and the economic disruption caused by it, a global shipping crisis appears set to continue delaying and fueling inflation well into 2023.
Inflation and GDP calculations do not include shipping, and companies are often most concerned about raw materials and labour costs. But that might be changing.
FBX index data from Freightos shows that the cost of shipping a 40-foot container (FEU) unit has eased 15% since September's record highs over $11000. Prior to the pandemic, the same container cost just $1300.
90 percent of merchandise on the planet is transported by sea, which threatens to exacerbate an inflation problem that's already more chronic than anticipated.
Peter Sand, chief analyst at the freight rate benchmarking platform Xeneta, does not expect container shipping costs to normalize until 2023.
Thus, Sand said, the higher cost of logistics is not a transient phenomenon. It could be a permanent boost to prices going forward due to the element of shipping in overall prices, however small.
In March, a six-day Suez Canal blockage caused worldwide backlogs that increased shipping costs. As a result, the vessel-hire market became tighter, as uncertainty about future fuel and emission regulations caused ship orders for new ships to plummet.
Consumers sought goods during coronavirus outbreaks, however dockyards struggled due to COVID-related labour shortages.
Analysts at Berenberg estimate that 11% of the world's loaded container volume was being held up in logjams as of early November, down from August peaks, but well above 7% prior to the flu pandemic.
Mark Ross, president of TopAlpha Shipping Company, said that the Sea Cargo Charter provides a framework for identifying shipping emissions that contributes to the decarbonization of maritime transportation. It is our pleasure to join and partner with Sea Cargo Charter to enhance transparency and accuracy of reporting, thus fostering responsible environmental practices.
TopAlpha is delighted to be one of our new Sea Cargo Charter members. We look forward to their contribution to our shared goal as a large multinational and an oil major. It is great to have another industry leader join the Charter, committing to our goal to decarbonize shipping, said Jan Dieleman, chair of the Sea Cargo Charter Association and president of Cargills Ocean Transportation Division.
Sea Cargo Charter is backed by global bulk commodity shippers Anglo American, Cargill Ocean Transportation, Dow, Norden, TotalEnergies, Trafigura, Euronav, Gorrissen Federspiel, and Stena Bulk, with assistance from the Global Maritime Forum, Smart Freight Centre, University College London Energy Institute, and Stephenson Harwood. With the changing environment, IMO's policies and regulations will evolve along with the Sea Cargo Charter.
Online Shipping TopAlpha Shipping is based in San Ramon, California, and transports crude oil, liquefied natural gas, and refinery products. On October 17, TopAlpha said it would cut operational emissions to zero by 2050, joining a growing list of energy companies that are reducing carbon emissions.
Reuters (LONDON) - Much like the coronavirus pandemic, and the economic disruption caused by it, a global shipping crisis appears set to continue delaying and fueling inflation well into 2023.
Inflation and GDP calculations do not include shipping, and companies are often most concerned about raw materials and labour costs. But that might be changing.
FBX index data from Freightos shows that the cost of shipping a 40-foot container (FEU) unit has eased 15% since September's record highs over $11000. Prior to the pandemic, the same container cost just $1300.
90 percent of merchandise on the planet is transported by sea, which threatens to exacerbate an inflation problem that's already more chronic than anticipated.
Peter Sand, chief analyst at the freight rate benchmarking platform Xeneta, does not expect container shipping costs to normalize until 2023.
Thus, Sand said, the higher cost of logistics is not a transient phenomenon. It could be a permanent boost to prices going forward due to the element of shipping in overall prices, however small.
In March, a six-day Suez Canal blockage caused worldwide backlogs that increased shipping costs. As a result, the vessel-hire market became tighter, as uncertainty about future fuel and emission regulations caused ship orders for new ships to plummet.
Consumers sought goods during coronavirus outbreaks, however dockyards struggled due to COVID-related labour shortages.
Analysts at Berenberg estimate that 11% of the world's loaded container volume was being held up in logjams as of early November, down from August peaks, but well above 7% prior to the flu pandemic.
