Category: Uncategorised

COPENHAGEN, 4 MARCH – The Sea Cargo Charter (SCC) is pleased to welcome Aluminium Bahrain B.S.C. (Alba) as its newest signatory, further expanding the initiative’s reach within the global aluminium sector and reinforcing its commitment to transparency and decarbonisation in shipping.

Alba, the world’s largest smelter on one site, exports over 1.62 million metric tonnes of aluminium products annually to more than 270 customers across the globe. With sales offices in Europe (Zurich) and Asia (Singapore) and a subsidiary in the U.S., Alba’s extensive international footprint spans the Americas, MENA region, Europe, and Asia.

“With the inclusion of Alba, the Sea Cargo Charter continues to expand its influence and sectoral reach, reinforcing our shared commitment to responsible maritime practices,” said Rasmus Bach Nielsen, Sea Cargo Charter Chair. “Alba’s membership underscores the increasing role of aluminium producers in shaping a more transparent and sustainable shipping industry, and we are delighted to welcome them to our initiative.”

By joining the SCC, Alba aligns with other leading aluminium producers, such as Emirates Global Aluminium (EGA) and South32, underscoring the growing momentum among industry players towards responsible and sustainable shipping practices. Furthermore, Alba’s participation enhances the SCC’s geographical representation, marking it as the second signatory from the Middle East and the first from Bahrain.

“Alba’s commitment to joining the Sea Cargo Charter reflects our dedication to sustainable practices and a cleaner future,” said Ali Al Baqali, Alba’s CEO. “We believe that by working together with industry leaders, we can drive positive change in maritime shipping and reduce our environmental impact. The Sea Cargo Charter’s mission of promoting transparency, accountability, and decarbonisation aligns perfectly with our values, and we are proud to be part of this important initiative.”

The SCC serves as a global framework for measuring and reporting emissions in line with the International Maritime Organization’s (IMO) decarbonisation targets. With Alba’s inclusion, the SCC continues to gain traction among key industry sectors, reflecting a collective commitment to environmental responsibility and sustainable supply chain practices.

As more aluminium producers and other industry stakeholders join SCC, the initiative solidifies its role as a leader in advancing transparency and accountability in maritime emissions.

Media contact: Molly P. Hannon, Senior Communications Manager

M: +45 53 76 67 87

E: mph@globalmaritimeforum.org

About the Sea Cargo Charter
The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It is designed to help the shipping industry reduce emissions in line with the latest International Maritime Organization’s GHG strategy, which targets net-zero emissions by around 2050. The Sea Cargo Charter aligns with these goals by establishing a shared methodology to track, report, and promote emissions reductions.

As one of three initiatives based on the same foundational principles developed with the Global Maritime Forum, the Sea Cargo Charter joins the Poseidon Principles and the Poseidon Principles for Marine Insurance in fostering transparency and accountability in emissions reporting, contributing to the global fight against climate change.

More information on the Sea Cargo Charter, including how to join, can be found here.

About the Aluminium Bahrain B.S.C. (Alba)

A Global Aluminium Leader: At plus-1.62 million metric tonnes per annum (mtpa) (2024), Alba is a world-leading aluminium smelter with a proud 50-year legacy in operational excellence, safety, environmental responsibility, and community development.

Trusted Partner: A cornerstone of the Bahrain’s economy, Alba produces high-quality aluminium, including standard and value-added products, which are exported to over 270 customers globally. With sales’ offices in Europe (Zurich), Asia (Singapore), and a subsidiary in the U.S., Alba is a reliable partner on the world stage. Alba is dually listed on Bahrain Bourse and London Stock Exchange and its shareholders are Bahrain Mumtalakat Holding Company B.S.C. © (69.38%), Saudi Arabian Mining Company (Ma’aden) (20.62%) and General Public (10%). Alba prioritises the highest quality standards, reflected in its certifications: ISO 9001 (quality), ISO 14001 (environment), ISO 27001 (information security), ISO 45001 (occupational health and safety), and ISO 18788 (security operations management). Additionally, Alba demonstrates its commitment to responsible manufacturing through certifications like IATF 16949 (automotive quality), ISO 22301 (business continuity), and ASI Performance and Chain of Custody Standards. This dedication is further underscored by their top 1% Ecovadis Platinum rating for sustainability.

Pioneering Sustainability: As the first aluminium smelter in the Middle East, Alba is central to Bahrain’s thriving downstream aluminium sector, contributing significantly to the Kingdom’s GDP. Committed to social responsibility, Alba employs a workforce that is 86% Bahrainis (2023) and invests heavily in employee training and development. Alba also plays a crucial role in the Aluminium Downstream Park, therefore increasing the contribution of non-oil sectors to the GDP of Bahrain. Alba has been recognised for its initiatives to produce Aluminium responsibly through awards such as Top ESG performer in Bahrain by ESG Invest, Safeguard Label from Bureau Veritas and Best Corporate Governance Award by Ethical Boardroom.

Recognised for its environmental practices, social contributions, and corporate governance, Alba launched a comprehensive ESG Roadmap in 2022 focusing on 6 priority areas: (1) Decarbonisation, (2) Green Energy & Aluminium, (3) Circular Economy & Secondary Aluminium, (4) Employee Welfare, (5) Collaboration & Partnership and (6) Transparency, Communications & Due Diligence. Since its inception, Alba has invested into numerous environment, sustainable and socio-economic development projects that have had a positive impact on the society. Alba’s first-of-its-kind US$37.5 million zero-waste Spent Pot Lining Treatment Plant, Power Station 5 Block 4 Project, and the upcoming +6 MW Solar Farm Project are tangible initiatives aligned with Bahrain’s Net Zero Carbon Targets by 2060 led by HRH the Crown Prince and Prime Minister of Bahrain. Specifically, Alba’s PS5 Block 4 is a new 680.9-megawatt (MW) combined-cycle power plant that expands the existing PS5 facility. Block 4 will increase the nameplate capacity of PS5 Complex from 1,800 MW to 2,481 MW and reduce the Company’s overall GHG emissions intensity ratio by 0.5 tonnes of CO2 per 1 tonne of aluminium produced.

In a significant step towards its ESG goals, particularly its commitment to a circular economy and secondary aluminium, Alba introduced EternAlTM, its new line of low-carbon aluminium products. Launched in May 2024, EternAl offers two initial variants: EternAl-30 and EternAl-15, containing 30% and 15% recycled content respectively.

Safety First, Always: Guided by the motto “Safety First, Safety Always,” Alba prioritises the well-being of its employees and contractors. The Company achieved a record-breaking 30 million safe working hours without a lost-time injury in September 2022. The Company has been recognised internationally for its excellent Safety and Health track record with awards such as the RoSPA President’s Award for winning RoSPA Gold Medal Award 10 years in a row, the British Safety Council’s International Safety Award with Merit along with 4-Star Audit Rating, as well as numerous awards from the National Safety Council (NSC).

Learn more.

 

 

 

COPENHAGEN, 5 DECEMBER – The Sea Cargo Charter (SCC) is proud to announce Diana Shipping Inc. as its newest signatory, further expanding the global initiative with the addition of another shipowner.

Diana Shipping Inc., a prominent provider of shipping transportation services, owns and bareboat charters in a diverse fleet of dry bulk vessels that transport commodities such as iron ore, coal, and grain across global shipping routes. The company’s addition to the SCC reflects a strong commitment to transparency and sustainability, reinforcing the maritime industry’s growing alignment with international decarbonisation goals.

“With the inclusion of Diana Shipping Inc., the Sea Cargo Charter continues to broaden its scope and impact, further cementing our collective dedication to transparency and sustainable practices,” said Eman Abdalla, Vice Chair of the Sea Cargo Charter and Global Operations & Supply Chain Director at Cargill Ocean Transportation. “As one of the first shipowners to join the Sea Cargo Charter, Diana Shipping Inc. sends a clear signal to the industry that shipowners have a critical role in achieving the decarbonisation goals set by the International Maritime Organization.”

The Sea Cargo Charter expanded its scope to include shipowners in April 2024, enabling both charterers and shipowners to monitor and report emissions under a unified framework. This integration underscores the SCC’s mission to encourage industry-wide accountability, transparency, and collaboration in achieving net-zero greenhouse gas (GHG) emissions by around 2050.

“With a deep-rooted commitment to sustainability, Diana Shipping Inc. is excited to join forces with the Sea Cargo Charter to drive meaningful change in the maritime industry,” said Semiramis Paliou, Director and Chief Executive Officer of Diana Shipping Inc. “By becoming a signatory, we are actively aligning with the Sea Cargo Charter’s mission to reduce greenhouse gas emissions and promote responsible environmental practices in shipping. Through this initiative, we strengthen our stakeholder relationships, enhance transparency, and play a key role in advancing the decarbonisation of global shipping.”

The Sea Cargo Charter’s framework aligns with the International Maritime Organization’s updated greenhouse gas strategy, which aims to achieve net-zero emissions by 2050. By joining, Diana Shipping Inc. strengthens its capacity to measure emissions and evaluate alignment with these ambitious targets while encouraging other shipowners to follow suit and contribute to a more transparent and sustainable shipping industry.

Media contact: Molly P. Hannon, Senior Communications Manager

M: +45 5376 6787

E: mph@globalmaritimeforum.org

About the Sea Cargo Charter
The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It is designed to help the shipping industry reduce emissions in line with the latest International Maritime Organization’s GHG strategy, which targets net-zero emissions by around 2050. The Sea Cargo Charter aligns with these goals by establishing a shared methodology to track, report, and promote emissions reductions.

As one of three initiatives based on the same foundational principles developed with the Global Maritime Forum, the Sea Cargo Charter joins the Poseidon Principles and the Poseidon Principles for Marine Insurance in fostering transparency and accountability in emissions reporting, contributing to the global fight against climate change.

More information on the Sea Cargo Charter, including how to join, can be found here.

About Diana Shipping Inc.

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Learn more about Diana Shipping Inc.’s sustainability initiatives by visiting their ESG reports.

 

Copenhagen, 26 November – The Sea Cargo Charter (SCC) is delighted to welcome EBE as its latest signatory, one of the first shipowners to join the Association following its recent scope expansion to fully include shipowners. Based in Belgium, EBE specialises in dry bulk shipping and is now the second Belgian company to join SCC, ahead of the Global Maritime Forum’s Summit in Antwerp next year.  

“With EBE’s membership, the Sea Cargo Charter not only expands its reach but also gains the support of one of the first shipowners to join since our scope expansion inviting shipowners onboard, underscoring a commitment to transparency and advancing decarbonisation across the shipping industry,” said Rasmus Bach Nielsen, Chair of the Sea Cargo Charter and Global Head of Fuel Decarbonisation at Trafigura. “We are thrilled to welcome EBE and look forward to collaborating closely to foster transparency and accountability across the industry as we work together towards a more sustainable future.”  

In April 2024, the Sea Cargo Charter expanded its scope to include shipowners, enabling both charterers and shipowners to track and report emissions under a unified framework. This expansion aims to strengthen and improve transparency while advancing decarbonisation efforts across the industry. By joining the Association, EBE exemplifies that companies of all sizes can play a pivotal role in reducing shipping emissions and achieving industry-wide decarbonisation. It is particularly commendable that, despite being a relatively small company, EBE is stepping forward to take responsibility, serving as an inspiring example for other small and medium-sized companies to actively shape the future of the maritime industry. 

“Transparency is one of our core values and one of the key tools in the fight against climate change,” said Basile Aloy, EBE CEO. “We are delighted to join the Sea Cargo Charter and call on everyone in the industry to report on their emissions.” 

The inclusion of shipowners into the Sea Cargo Charter aims to foster a stronger industry dialogue, enabling both charterers and shipowners to share insights, address challenges, and explore joint opportunities for emissions reduction. The methodology provided by the Association facilitates a comprehensive approach to assessing and reducing emissions, laying the groundwork for more informed decision-making across the sector. 

Media contact: Molly P. Hannon, Senior Communications Manager  

M: +45 53 76 67 87   

E: mph@globalmaritimeforum.org  

About the Sea Cargo Charter
The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities, designed to help the shipping industry reduce greenhouse gas emissions in line with the International Maritime Organization’s (IMO) revised ambitions. The IMO’s latest GHG strategy, adopted in July 2023, targets net-zero emissions by around 2050. The Sea Cargo Charter aligns with these goals by establishing a shared methodology to track, report, and promote emissions reductions. 

As one of three initiatives based on the same foundational principles developed with the Global Maritime Forum, the Sea Cargo Charter joins the Poseidon Principles and the Poseidon Principles for Marine Insurance in fostering transparency and accountability in emissions reporting, contributing to the global fight against climate change. 

For more information on the Sea Cargo Charter and how to join, visit the SCC website.  

 

The Maritime Decarbonisation, Europe: Conference, Awards & Exhibition 2024 will be held on 24 and 25 September in Amsterdam. As part of the Maritime Decarbonisation Series, this event serves as a crucial platform for industry stakeholders to explore strategies and solutions for achieving low-carbon and zero-emission shipping. 

The conference will gather leaders, experts, and innovators from across the maritime sector, offering a comprehensive forum for discussing the industry’s energy transition. The focus will be on practical approaches to reducing environmental impact and aligning with global climate goals. 

As a supporter of this event, the Sea Cargo Charter plays a vital role in promoting responsible ship chartering practices. The Sea Cargo Charter’s global framework enables charterers and shipowners to align their activities with internationally adopted climate goals, thereby contributing to the decarbonisation of shipping. By providing a common, quantitative baseline for assessing and disclosing the climate alignment of chartering activities, the Sea Cargo Charter supports informed decision-making and responsible environmental behaviour within the maritime industry. 

This year, the Sea Cargo Charter expanded its framework to welcome shipowners, allowing them to report on their owned vessels. This adaptation reflects the industry’s evolving needs and underscores the Sea Cargo Charter’s commitment to inclusivity and comprehensive climate action. All charterers and shipowners involved in dry bulk and tanker trades are encouraged to join and contribute to the global effort for a sustainable maritime future. 

The Maritime Decarbonisation event in Amsterdam will offer an opportunity for the industry to unite in its efforts to reduce emissions and build a greener future for shipping. 

Click here for more information on the event and to secure your spot. 

Copenhagen, 8 August – The Sea Cargo Charter (SCC) is pleased to announce the addition of South32 as its newest signatory. Headquartered in Australia, South32 is a globally diversified mining and metals company. South32 produces commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from operations in Australia, Southern Africa and South America.  

“With the inclusion of South32, the Sea Cargo Charter now represents over 20% of bulk goods transported by sea annually, marking a significant milestone in our growth and influence,” said Sea Cargo Charter chair, Rasmus Bach Nielsen, global head of fuel decarbonisation at Trafigura. “This demonstrates our collective commitment to promoting sustainable shipping practices across the industry.” 

Maritime freight is an integral part of South32’s supply chain. The company has a long-term goal to achieve net zero greenhouse gas emissions across scope 1, 2 and 3 by 2050 and a medium-term target to halve operational GHG emissions by 2035, compared to its FY21 baseline. 

“Joining the Sea Cargo Charter is another step in our decarbonisation journey,” said Matthew Gillespie, Vice President, Head of Marketing at South32. “By aligning to the Sea Cargo Charter’s global framework, we can better track our decarbonisation progress against the International Maritime Organization’s decarbonisation trajectory and our net zero goal.”  

In its 2023 Sustainability Development Report, South32 highlighted its ongoing efforts to reduce emissions from shipping, which include monitoring emissions data to understand costs and identify opportunities for increased efficiencies in shipping products and raw materials economically and responsibly. Additionally, South32 is partnering with suppliers and collaborating with customers to further GHG emissions reduction efforts throughout the value chain. 

“The inclusion of South32 is another testament to the Sea Cargo Charter’s goal of a collaborative approach and ambition to enhance transparency in shipping emissions, fostering an environment where decarbonisation can thrive,” said Sea Cargo Charter vice chair Eman Abdalla, global operations & supply chain director at Cargill Ocean Transportation.  

As a global framework to assess and disclose the climate alignment of ship chartering activities, the Sea Cargo Charter aims to reduce global shipping’s annual greenhouse gas emissions to net zero by around 2050. This initiative aligns with the goals of the International Maritime Organization, the United Nations agency responsible for regulating global shipping. Its recent scope expansion to fully include ship owners underscores its ambitions.  

---

About the Sea Cargo Charter    

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023 sets a new ambition to reach net-zero GHG emissions from international shipping by or around, i.e. close to, 2050. The Sea Cargo Charter has recently aligned its ambition with these latest goals by agreeing to report in 2024 and onwards against (i) a full decarbonisation target in 2050, (ii) interim targets in 2030 and 2040 and (iii) the consideration of lifecycle emissions of fuels including further greenhouse gas (GHG) species.    

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions.  Learn more.  

---

GMF Media contact:  

• Molly P. Hannon, Senior Communications Manager  
• M: +45 53 76 67 87   
• E: mph@globalmaritimeforum.org  

South32 Media contact: 

• Miles Godfrey, Media Relations 
• M: +61 415 325 906 
• E: miles.godfrey@south32.net 

• Urgent action required as new data shows the shipping industry fell behind minimum international climate goals by 17% on average in 2023 – a shortfall of 165 million metric tonnes of CO2e.  
• Geopolitical developments, limited green fuel options and lack of infrastructure revealed as barriers to progress. 

• Signs of positive change as transparency on emissions and industry collaboration increase to record levels and higher ambitions are embraced, pushing the industry towards faster decarbonisation. 

Copenhagen, 13 June 2024 – The shipping industry must take urgent action to meet ambitious new climate targets set by the International Maritime Organization (IMO), according to a new report from the Sea Cargo Charter (SCC), a global transparency initiative developed by the Global Maritime Forum. 

New data from the SCC, a global framework representing 20% of global bulk cargo transport, reveals the sector fell short of minimum international climate goals set by the IMO by an average of 17% in 2023, equivalent to 165 million metric tonnes of CO2e. When considering ‘striving’ goals set by the IMO, signatories are on average 22% misaligned, which represents a shortfall of 204 million metric tonnes of CO2e in 2023.  

Currently, dry bulk, general cargo, and tankers account for around 400 million tonnes of CO2 emissions.1 With global trade predicted to quadruple by 2050, emissions will skyrocket without urgent action.    

For the first time, this year the SCC signatories have chosen to voluntarily report against much stricter criteria, including the IMO’s revised GHG Strategy, introduced in July 2023. The strategy set ambitious net-zero emissions targets for 2050, with interim checkpoints in 2030 and 2040. Reporting has also been expanded to include “well-to-wake” emissions, which measure emissions from the extraction of oil to its end use, providing a more comprehensive picture of environmental impact and pushing the industry towards faster decarbonisation. 

Despite the misalignment with the IMO’s revised emissions targets, the report also reveals promising trends. The number of SCC signatories has grown to 37 in 2024, 35 of which are reporting this year – a significant increase from 2022, demonstrating a growing commitment to sustainability and transparency within the industry. Furthermore, the average reporting percentage has shown a steady increase over the past three years, from 80% in 2022 to 93.2%. This year’s report shows that industry collaboration and data sharing is improving.   

This level of transparency is unprecedented in the sector. 

“The Sea Cargo Charter’s expanding coverage of reporting is a testament to its commitment to transparency and accountability, setting a new standard for environmental reporting in the shipping sector,” said Sea Cargo Charter chair Rasmus Bach Nielsen and global head of fuel decarbonisation at Trafigura. “As the Charter continues to attract new members and shape market practices, it underscores the importance of integrating climate considerations into business decisions. These efforts not only enhance emissions transparency but also propel the maritime industry towards a more sustainable future, at a time when action is needed more urgently than ever before.” 

The SCC’s annual disclosure report is at the core of the framework’s mandate to making chartering activities environmentally responsible, by integrating climate considerations into business decisions and enhancing transparency on emissions. The 2024 report, released today, highlights the gap between current emissions and the IMO’s revised strategy for net-zero emissions by 2050. The report shows the importance of commercial and operational decisions on the vessels’ use (such as, instructed speed, cargo and routing optimisation, laden/ballast ratio), innovation and cooperation within the industry to be able to take action in this transition.  

Other identified barriers to cutting emissions are geopolitical disruptions, limited alternative fuel options for long voyages, and a lack of infrastructure to support new technologies. 

From next year, shipowners – not just charterers – will for the first time also be fully able to form part of the annual report, further enhancing transparency across the entire shipping value chain. 

The Findings & Results 

In these scores, negative values indicate alignment with decarbonisation trajectories, while positive values denote misalignment. The simple average score for climate alignment was 16.9% misaligned with the IMO’s ‘minimum’ ambition, with scores ranging from -16.5% to 47.6%. For the IMO’s ‘striving’ ambition, the simple average score was 21.9% above the target, with scores ranging from -14.8% to 54.7%.  

Factors that influenced these scores include the challenges of adapting to longer journey times following geopolitical disruptions, changing operational parameters in ports, commercial choices such as energy-saving retrofit programs, instructed speed, laden/ballast ratio, and deadweight tonnage (DWT) utilisation on laden voyages.

Despite the steeper challenge of meeting the more ambitious IMO goals, signatories remain optimistic and committed to the continuously evolving SCC framework, which enables them to measure performance against a quantifiable industry standard while being part of a likeminded progressive group. 

The growing number of signatories included, and the increasing reporting percentage of eligible activities covered in this report (93.2% on average) signals that many in the industry take the challenge seriously, using transparency on their emissions to drive positive change.  

The SCC’s 2024 report paints a picture of an industry aware of the climate challenge and actively seeking solutions. Increased transparency, collaboration between charterers and shipowners, and alignment with the IMO’s revised strategy are all positive steps in the right direction. The shipping industry has a long way to go, but with continued transparency, commitment, and innovation, it can navigate a more sustainable future. 

The 2024 Annual Disclosure Report was produced by the Global Maritime Forum, which performs secretariat services for the Sea Cargo Charter with expert support provided by UMAS and the Smart Freight Centre.  

---

Media contact: Molly P. Hannon, Senior Communications Manager  

M: +45 5376 6787   

E: mph@globalmaritimeforum.org  

---

About the Sea Cargo Charter    

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial greenhouse gas strategy prescribed that international shipping must reduce its total annual emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century. The IMO revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023 sets a new ambition to reach net-zero GHG emissions from international shipping by or around, i.e. close to, 2050. The Sea Cargo Charter has recently aligned its ambition with these latest goals by agreeing to report in 2024 and onwards against (i) a full decarbonisation target in 2050, (ii) interim targets in 2030 and 2040 and (iii) the consideration of lifecycle emissions of fuels including further greenhouse gas (GHG) species.    

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions. Learn more.  

Oslo, Norway, 14 May 2024 – Yesterday, the Sea Cargo Charter held its fourth annual meeting at Klaveness Combination Carriers’ offices in Oslo, Norway. Co-hosted by Equinor, and chaired by Trafigura and Cargill, signatories gathered a few weeks before the publication of the Sea Cargo Charter’s latest annual disclosure report on 13 June. The agenda centred on discussing the latest developments within the Sea Cargo Charter Association while fostering dialogue on shared challenges and opportunities for the shipping industry’s decarbonisation efforts. Decisions were taken on governance, finances and reinforced reporting modalities. Other topics discussed included emissions setting, operational efficiency, and upcoming IMO policy measures.  

“Our Annual Meeting arrives at a critical moment. Our signatories are poised to report against the latest and more ambitious IMO targets for the first time,” said Rasmus Bach Nielsen, Sea Cargo Charter Chair and Global Head of Fuel Decarbonisation at Trafigura. “This significant step stems from a collective decision made a few months after the IMO’s Revised (GHG) Strategy, further demonstrating our commitment to aligning with evolving environmental standards.” 

While the IMO is still to adopt key measures for implementing the renewed and significantly higher ambitions in its revised strategy, the  Sea Cargo Charter signatories decided to update their decarbonisation trajectories  to match the new ambition of a 100% reduction of emissions from international shipping by 2050 with intermediary checkpoints in 2030 and 2040 and report on a well-to-wake basis, taking into account the full-lifecycle approach to emissions from fuels.  

As a result, signatories are measuring their emissions intensity this year against two trajectories: the ‘minimum’ and the ‘striving’ trajectories. This is significantly more ambitious than the previous Sea Cargo Charter reporting measuring against the IMO’s initial GHG strategy, which aimed for a 50% reduction in emissions from international shipping in 2050 compared to 2008 levels.  

To further enhance its impact, the Sea Cargo Charter recently expanded its scope to fully allow shipowners to join the Association and monitor emissions against a shared baseline and common methodology with charterers.  

‘As an industry, we have proven that collaboration is of utmost importance. The Sea Cargo Charter is no exception, serving as a platform for shipowners & charterers to collaborate and cooperate in monitoring emissions’ said Sea Cargo Charter Vice Chair Eman Abdalla, Global Operations & Supply Chain Director at Cargill Ocean Transportation. “This expansion reflects our commitment to fostering greater collaboration and accountability across the maritime industry in our collective pursuit of decarbonisation.” 

Signatories made significant decisions at this year’s Annual Meeting in Oslo regarding reporting and governance, showcasing the ambition of its members to amplify impact and enhance transparency on shipping emissions. Signatories notably decided upon the following: 

• To gradually increase the reporting requirements by making it mandatory for charterers and shipowners who are signatories to report any voyage unless they time-charter out a vessel. This constitutes an increase in the number of reporting segments mandatory for signatories and will apply for data collected as of 2025 and reported in 2026.  
• To increase the level of information to be disclosed publicly in next year’s SCC Annual Disclosure Report by adding the reporting rate of each signatory and whether their data was verified. Therefore, it brings more transparency and incentivises complete reporting and verification accuracy.   

Steering Committee elections: Signatories elected Copenhagen Commercial Platform (CCP) as a new member and re-elected Bunge and Chevron as members of their Steering Committee.   

Christian Bonfils, CEO of Copenhagen Commercial Platform (CCP), will represent CCP in the SteerCo. CCP has been a Sea Cargo Charter signatory since 2022 : “We are pleased to be elected to the Steering Committee. The Sea Cargo Charter plays an important role in decarbonising the maritime industry,” said Christian Bonfils. “We look forward to being more active and contributing with our expertise.” 

Marcio Valentim Moura (Global Logistics Director) and Matt Turns (General Manager for Strategy & Business Performance) are entering their second mandate for Bunge and Chevron, respectively, for the next two years.   

The Sea Cargo Charter Steering Committee is now composed of 15 members: ADM, Anglo American, Bunge, Cargill Ocean Transportation, Chevron, Copenhagen Commercial Platform, Dow, Equinor, Louis Dreyfus Company, Norden, Shell, Torvard Klaveness, TotalEnergies, Trafigura Maritime Logistics, Viterra.  More information about the Steering Committee is available here. 

Sea Cargo Charter Chair Rasmus Bach Nielsen (Trafigura), Vice-Chair Eman Abdallah (Cargill), and Treasurer Justine Clark (Shell) are in the middle of their ongoing terms. 

---

About the Sea Cargo Charter   

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial greenhouse gas strategy prescribed that international shipping must reduce its total annual emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century. The IMO revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023 sets a new ambition to reach net-zero GHG emissions from international shipping by or around, i.e. close to, 2050. The Sea Cargo Charter has recently aligned its ambition with these latest goals by agreeing to report in 2024 and onwards against (i) a full decarbonisation target in 2050, (ii) interim targets in 2030 and 2040 and (iii) the consideration of lifecycle emissions of fuels including further greenhouse gas (GHG) species.   

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions.   Learn more. 

---

Media contact: Molly P. Hannon, Senior Communications Manager 

M: +45 5376 6787  

E: mph@globalmaritimeforum.org 

Copenhagen, 2 April 2024 – The Sea Cargo Charter (SCC), a global framework for aligning chartering activities with responsible environmental behaviour to promote international shipping’s decarbonisation, is expanding its scope four years after its inception. With 37 signatories already on board, this expansion aims to increase the initiative’s impact on transparency and shipping decarbonisation across the entire industry by allowing charterers and shipowners to monitor and report their emissions under a common framework.  

The Sea Cargo Charter provides a common, global baseline for assessing and disclosing the climate alignment of chartering activities of charterers and shipowners. It enables signatories to quantitatively evaluate and disclose whether their chartering activities align with internationally adopted climate goals, thus serving as a crucial tool to support responsible decision-making.  

“The expansion of the Sea Cargo Charter to fully include shipowners signals a new milestone in the global endeavour to decarbonise shipping,” said Rasmus Bach Nielsen, Sea Cargo Charter Chair and Global Head of Fuel Decarbonisation at Trafigura. “By uniting owners and charterers under a common framework and methodology, we hope our initiative can further enhance transparency and foster collaboration across the industry, thereby amplifying its impact.”  

The Charter, launched in 2020, establishes a common baseline and enables charterers and now shipowners to assess whether their activities align with internationally adopted climate goals, as outlined by the International Maritime Organization. This expansion to shipowners is about increasing impact and maximising collaboration between business partners, intending to expedite the transition to decarbonised shipping through more transparency across the whole industry. Notably, the Sea Cargo Charter is consistent with the ambitious goals set by the IMO’s 2023 GHG Strategy. Signatories will measure their climate alignment against the latest 2023 IMO ambitions for the first time in its forthcoming annual report, scheduled for publication in June.  

“By enabling broader collaboration within the Sea Cargo Charter, we are forging a new path committed to sustainable practices and transparency for the industry,” said Eman Abdalla, Global Operations & Supply Chain Director at Cargill Ocean Transportation. ‘Widening access to the Charter acknowledges shipowners’ crucial role in reducing shipping emissions, enabling key stakeholders to report transparently within a unified framework and gain crucial data-driven insights to reduce emissions.”  

Find press release here

---

For media inquiries, please contact:  

Molly P. Hannon, Senior Communications Manager  

Email: mph@globalmaritimeforum.org
Mobile: +45 53 76 67 87
 

About the Sea Cargo Charter  

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial greenhouse gas strategy prescribed that international shipping must reduce its total annual emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century. The IMO revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023 sets a new ambition to reach net-zero GHG emissions from international shipping by or around, i.e. close to, 2050. The Sea Cargo Charter has recently aligned its ambition with these latest goals by agreeing to report in 2024 and onwards against (i) a full decarbonisation target in 2050, (ii) interim targets in 2030 and 2040 and (iii) the consideration of lifecycle emissions of fuels including further greenhouse gas (GHG) species.  

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions.  

 

United Arab Emirates, [20] December 2023 – Emirates Global Aluminium, the world’s largest ‘premium aluminium’ producer and the biggest industrial company in the United Arab Emirates outside oil and gas, has become the first aluminium producer and the first Middle East company to join the Sea Cargo Charter.  

The Sea Cargo Charter sets a global framework to assess and disclose the climate alignment of ship chartering activities to reduce the annual greenhouse gas emission of global shipping to net zero by around 2050, in line with the goals of the International Maritime Organization, the United Nations agency responsible for regulating global shipping. 

EGA ships some 22 million tonnes of aluminium, bauxite and raw materials around the world each year. While the production of raw materials accounts for the bulk of EGA’s scope 3 emissions, global shipping accounts for a meaningful proportion.  

The global shipping industry as a whole was responsible for two per cent of anthropomorphic greenhouse gas emissions in 2022, according to the International Energy Agency.  

Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said: “The aluminium EGA produces plays an essential role in the development of a more sustainable society. It is also important how sustainably it is produced, and this includes shipping raw materials to our production sites and bauxite and metal to our customers worldwide. EGA has committed to reaching net zero by 2050, including from our supply chain. Joining the Sea Cargo Charter will enable us to further improve our performance and achieve our goal to reach net zero from supply chain activities.”  

Eman Abdalla, Sea Cargo Charter Vice Chair, and Global Operations Director at Cargill, said: “We are pleased to have EGA as the first global aluminium producer and Middle East industrial company to join the Sea Cargo Charter. The journey to more sustainable shipping starts with a commitment to transparency, a unified methodology, and emissions reporting. We hope EGA’s example inspires other participants in the aluminium industry to follow a similar path towards carbon emissions transparency in their supply chain.” 

In 2022, EGA signed an agreement with one of its shipping partners, “K” Line to develop and implement new marine decarbonisation technologies suitable for EGA’s bulk cargo shipping routes in the eastern Atlantic Ocean, Mediterranean Sea and Indian Ocean.
Ends 

 Media contact at EGA: 

• Simon Buerk  
• sbuerk@ega.ae  
• +971 56 3111 536 

Media contact for Sea Cargo Charter:  

• Molly P. Hannon 
• mph@globalmaritimeforum.org  
• +45 53 76 67 87 

About EGA 

Since 1975, when it was founded as Dubai Aluminium by His Highness Sheikh Rashid bin Saeed Al Maktoum, Emirates Global Aluminium has been innovating aluminium to make modern life possible. 

Today EGA is the world’s biggest ‘premium aluminium’ producer and the largest industrial company in the United Arab Emirates outside the oil and gas industry.  

EGA is equally-owned by Mubadala Investment Company of Abu Dhabi and the Investment Corporation of Dubai. It is the largest company jointly owned by the two Emirates. 

EGA is an integrated aluminium producer, with operations from bauxite mining to the production of cast primary aluminium. EGA operates aluminium smelters in Jebel Ali and Al Taweelah, an alumina refinery in Al Taweelah and a bauxite mine and associated export facilities in the Republic of Guinea. 

EGA’s aluminium is the second largest made-in-the UAE export after oil and gas. In 2022, EGA sold 2.72 million tonnes of cast metal. EGA is the only UAE producer and makes the UAE the fifth largest aluminium producing nation in the world.  

EGA has more than 400 customers in over 50 countries. In 2022, value-added products accounted for 78 per cent of EGA’s cast metal sales.  

EGA’s aluminium is primarily used in the construction, automotive, packaging, aerospace and electronics industries. 

Around 10 per cent of EGA’s aluminium production is sold in the UAE to around 26 downstream aluminium companies that make products with EGA’s aluminium. The growing broader aluminium sector in the UAE supports almost 48,000 jobs. EGA itself employs around 6,800 of these people including more than 1,200 UAE Nationals.  

EGA has focused on technology development for over 30 years. EGA has used its own technology for every smelter expansion since the 1990s and has retrofitted all its older production lines. In 2016 EGA became the first UAE industrial company to licence its core industrial process technology internationally. 

As a corporate citizen of the UAE, EGA aspires in all its operations to be measured amongst the world’s leading metals and mining companies in meeting its environmental and social responsibilities. In 2017, EGA became the first Middle East headquartered company to join the Aluminium Stewardship Initiative, a global programme to foster greater sustainability and transparency in the aluminium industry. In 2019, EGA’s Al Taweelah site became the first in the Middle East to receive certification from ASI for its sustainability practices and performance. EGA’s Jebel Ali site was certified in 2021. EGA’s bauxite mining subsidiary, Guinea Alumina Corporation, achieved the first ASI certification in Guinea in 2023. Al Taweelah alumina refinery was certified later in 2023, with the result that EGA now has all of its global operations certified to the aluminium industry’s internationally recognised standard for environmental and social performance and governance. 

In 2021, EGA began production of CelestiAL solar aluminium, produced with solar power from the Mohammed Bin Rashid Al Maktoum Solar Park on the outskirts of Dubai. EGA is the first company in the world to make aluminium commercially using the power of the sun.   

EGA was formed in 2014 through the merger of Dubai Aluminium and Emirates Aluminium. 

EGA’s Jebel Ali aluminium smelter began production as DUBAL in 1979. At almost five square kilometres, this site is five times bigger than Dubai Mall. 

EMAL started production in 2009 and its Al Taweelah aluminium smelter was the largest single-site aluminium smelter in the world when completed. EGA’s Al Taweelah site is five times bigger than Al Maryah Island at six square kilometres.  

EGA has its own power stations at both sites, producing electricity to meet its needs. EGA’s electricity generation capacity is 6,474 megawatts, making EGA the third largest electricity generator in the UAE after the Dubai and Abu Dhabi utilities. EGA also produces water through desalination units at its power plants.  

EGA began production at Al Taweelah alumina refinery in April 2019. EGA’s alumina refinery is the first in the UAE and only the second in the Middle East. The project reduces the UAE’s dependence on imported alumina and supplies over 45 per cent of EGA’s needs. 

Bauxite exports from Guinea Alumina Corporation, EGA’s wholly-owned subsidiary in Guinea, began in August 2019. The GAC project was one of the largest greenfield investments in Guinea in over 40 years. 

About the Sea Cargo Charter

The Sea Cargo Charter establishes a framework for assessing and disclosing the climate alignment of ship chartering activities around the globe. It sets a benchmark for what it means to be a responsible charterer in the maritime sector and provides actionable guidance on how to achieve this. The Sea Cargo Charter is consistent with the policies and ambitions of the International Maritime Organization (IMO), including its ambition for net-zero emissions from international shipping “by or around” 2050, with indicative checkpoints in 2030 and 2040 compared to 2008. As a result, the Sea Cargo Charter enables bulk ship charterers – and soon also ship owners – to align their activities with responsible environmental behaviour and incentivise international shipping’s decarbonisation – to shape a better future for maritime shipping and society. 

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions. 

 

 

The Sea Cargo Charter (SCC) is to revise its reporting framework, aligning its trajectory with the International Maritime Organization’s (IMO) revised greenhouse gas (GHG) strategy and expanding its current scope to include ship owners.

COPENHAGEN, 5 December – The Sea Cargo Charter (SCC) will significantly revise its reporting ambition, aligning its trajectory with emission reduction goals in response to the International Maritime Organization’s (IMO) revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023.

In parallel with aligning its trajectory, the SCC is set to expand its current membership scope to include shipowners, demonstrating a commitment to industry inclusivity and sustainable practices. With 37 signatories representing over 17% of total bulk cargo transported by sea annually, the SCC unites to enhance data sharing, boost transparency, and create accountability across the maritime supply chain. See the list of 37 Signatories here.

“Today, as representatives of the Sea Cargo Charter, we announce a revised trajectory in response to the latest IMO ambition unveiled during MEPC80 in July,” said Rasmus Bach Nielsen, Sea Cargo Charter Chair and Global Head of Fuel Decarbonisation at Trafigura. “The Sea Cargo Charter aligns shipping emissions reporting with the new IMO ambition and expands its scope, allowing all ship owners to report under the same framework if they so wish—further demonstrating the Charter’s proactive stance in fostering transparency and sustainability across the maritime industry.”

Decarbonisation Trajectory Update

The SCC is designed as an ever-evolving framework that assesses and publishes climate alignment of charterers who voluntarily decide to join, calculating the degree to which the voyage carbon intensity of a vessel category is in line with global decarbonisation trajectory(ies). Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, initiatives like the Sea Cargo Charter contribute significantly to promoting comprehensive climate considerations amongst key players in the maritime sector.

The updated alignment with the IMO’s latest ambition to reach net-zero GHG emissions in the shipping sector by approximately 2050, featuring indicative checkpoints in 2030 and 2040 and employing a full lifecycle well-to-wake approach ^[1], underscores the commitment to support charterers and shipowners throughout the transition process, offering data-driven insights on best practices and opportunities for emission reduction.

The IMO’s evolving ambition is propelling the industry closer to a 1.5°C future. Building on past efforts, signatories will continue to evaluate the necessity of an additional trajectory for consistent climate alignment reporting with a 1.5°C future.

Robust framework for shipowners

By broadening the current scope, to be effective in 2024, signatories incorporate the key role played by ship owners in the maritime supply chain into the initiative. The objective is to elevate transparency on emissions across the shipping ecosystem with the end goal to reduce emissions, offering ship owners a robust and standardised methodology and framework for reporting and disclosing emissions data associated with their activities.

“Adopting IMO’s revised GHG strategy as well as opening the door to owners are two critical milestones for the Sea Cargo Charter as this will accelerate gaining traction within the industry,” said Eman Abdalla, Global Operations & Supply Chain Director at Cargill Ocean Transportation. “By increasing accessibility, improving the quality of data and encouraging the collaboration between charterers and shipowners, we expect a knock-on effect of pushing standards for monitoring emissions and facilitating well-informed decision-making.”

[1] considering from now on a full life cycle approach of greenhouse gas (GHG) emissions (move from tank-to-wake (TtW) to well-to-wake (WtW)

For media inquiries, please contact:

Molly P. Hannon, Senior Communications Manager

Email: mph@globalmaritimeforum.org

Mobile: +45 53 76 67 87

About the Sea Cargo Charter

The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s initial greenhouse gas strategy prescribed that international shipping must reduce its total annual emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century. The IMO revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023 sets a new ambition to reach net-zero GHG emissions from international shipping by or around, i.e. close to, 2050. Three major changes from the current Sea Cargo Charter methodology are required in order to align the SCC ambition to the IMO Revised Strategy which are (i) decarbonisation target in 2050, (ii) interim targets and (iii) the consideration of lifecycle emissions of fuels including further greenhouse gas (GHG) species.

The Sea Cargo Charter is one of three initiatives based on the same four Principles and developed with the Global Maritime Forum. Together with the Poseidon Principles and the Poseidon Principles for Marine Insurance, they share a common objective: fostering transparency on emissions reporting with the aim of contributing to reducing carbon emissions.