Chevron joins Sea Cargo Charter

Chevron announced on December 9 that it had joined the Sea Cargo Charter, an initiative aimed at supporting the International Maritime Organisation (IMO)'s target of halving greenhouse gas emissions from shipping by 2050.

"The Sea Cargo Charter provides a global standard for reporting shipping emissions that advances the decarbonisation of the maritime industry," Chevron's president for shipping, Mark Ross, said in a statement. "We are excited to join and partner with Sea Cargo Charter to enhance the transparency and accuracy of reporting which will promote responsible environmental performance."

Sea Cargo Charter also involves cargo shippers Anglo-American, Cargill Ocean Transportation, Dow, Norden, TotalEnergies, Trafigura, Euronav, Gorrissen Federspiel and Stena Bulk. The Global Maritime Forum, Smart Freight Centre, University College London Energy Institute and Stephenson Harwood are providing expert support for the initiative.

The shipping industry has relied for decades mostly on fuel oil as its primary fuel, and it is seen as one of the most difficult economic areas to decarbonise. Many shipowners resorted to installing scrubbers to comply with the IMO's 2020 cap on sulphur content in maritime fuels, but some are also looking to adopt alternative fuels to meet more stringent environmental standards moving forward, the most popular of which has been LNG.