Levels of greenhouse gas (GHG) emissions are improving in the maritime freight industry, according to a report by VesselBot, a digital freight brokerage chartering platform for the bulk seaborne transportation market.
The December 2023 edition of “Decoding Maritime Emissions — Highs, Lows, and Green Leaders across global ocean routes,” indicates that average emissions by weight of freight carried dropped by 12% between January and July 2023, compared to the same period last year.
VesselBot has been monitoring GHG emissions across the industry, covering several trade lanes, vessel groups and types, in response to the International Maritime Organization’s (IMO) bid to curb emissions in the industry by at least 50% by 2050 compared to 2008.
When comparing the emissions by trade lane, North Europe to the Middle East showed the best improvement in 2023 (January-July) compared to the same period in 2022, with a 75% drop in emissions.
Three vessel groups, namely VLCS, ULCS, and Post Panamax II, exhibited significant reductions in emissions in 2023. Each group demonstrated a reduction of more than 20% compared to the emissions recorded in the previous year. Although VesselBot says the improvement should be welcomed and is plausible, the report delves into the possible factors that may have contributed to this achievement.
The low demand for shipping during the first half of the year led shipping lines to cancel voyages, reduce sailing speed, and re-allocate large container vessels from major trade routes, such as the Trans-Pacific, Trans-Atlantic, and Europe-Asia. “The combined effect of these actions has resulted in a marked decrease in emissions, highlighting the effectiveness of such measures in mitigating the impact of shipping on the environment,” the report says.
VesselBot, based in Athens, Greece, says it also offers to bring transparency to Scope 3 transportation emissions to its ocean carrier clients. It says the report not only celebrates the progress made in certain areas but also highlights the ongoing challenges, underscoring the urgency for continued action and innovation.
“This comprehensive analysis is a testament to the possible change and a roadmap for further reducing the maritime industry’s carbon footprint,” the company said in a November 27 statement.
