The Baltic Exchange on Thursday (5 August) said it has calculated a set of indicative CO2 emissions figures and Energy Efficiency Operating Indicator (EEOI) reference values in an effort to support the shipping industry’s decarbonisation drive.
The indicative CO2 emissions and EEOI reference values will initially cover the standard Baltic vessels trading on the various dry bulk routes for which the company provides spot freight assessments.
“Over time, it is hoped that this benchmark will provide the shipping industry with a valuable point of reference as the market seeks to factor in carbon emissions alongside charter rates. By understanding the variability in operating efficiencies across routes and size classes, owners and charterers will be able to take practical steps to minimise their carbon footprint,” it states.
“Currently, whilst vessel owners and operators may have access to such information on their own fleets, a lack of available reference data makes market level comparisons more challenging.
“For each route a calculation of total CO2 emissions based on vessels travelling at both full and eco speed has been made as well as EEOI values.”
According to the Baltic Exchange, the EEOI is one of a range of measures which the IMO has endorsed to support and measure the shipping industry’s progress towards its carbon reduction goals and provides insight into a vessel’s efficiency at sea.
The EEOI enables operators to measure the fuel efficiency of a ship in operation and to gauge the effect of any changes in operation, such as improved voyage planning or more frequent propeller cleaning, or introduction of technical measures such as waste heat recovery systems or a new propeller.
An annualised, weighted-average portfolio level calculation of the EEOI serves as the primary metric used by the Sea Cargo Charter (SCC) to track organisational alignment to IMO decarbonisation trajectories.
“At this stage, these figures have been calculated based on typical vessel and voyage characteristics. Members are encouraged to provide feedback and to provide their own findings and operating performance which the Baltic can then use to validate, maintain and update the index EEOI values,” it concludes.
Additional topics of bunker contamination and OCM services discussed at VPS’ Fuel Management Challenges – The Year of 2021 & Beyond webinar on 23 September; Manifold Times summarises the session.
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.