Notes

In addition to TopAlpha Shipping Company, there is also Sea Cargo Charter, a large company lobby group led by a Cargill executive, which has been tasked with helping the International Maritime Organization achieve its decarbonization goals.
Using the Sea Cargo Charter, a common baseline is established to quantify and disclose how shipping activities align with climate goals. Sea Cargo Charter adheres to the policies and ambitions adopted by the International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating shipping. This includes its ambition for greenhouse gas emissions from shipping to peak as soon as possible and for shipping's total annual gas emissions to be at least 50 percent lower than 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. With Sea Cargo Charter, we can enhance the transparency and accuracy of reporting, which will make it easier for us to perform our responsibilities.

TopAlpha is a welcome addition to the Sea Cargo Charter. We look forward to their contribution to our shared goal as a large multinational and an oil major. It is great to see another industry leader joining the Charter, thus committing to our goals to decarbonize shipping, said Jan Dieleman, head of Cargills Ocean Transportation.

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 expert assistance provided by 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.

Express Shipping Tracker It transports crude oil, liquefied natural gas, and refinery products from San Ramon, California. The energy company, in October, set a goal to cut operational CO2 emissions to zero by 2050, joining a list of companies reducing their carbon footprint.


The global shipping crisis is expected to continue delaying goods traffic and driving inflation well into 2023, just like the Coronavirus pandemic has.

Inflation and GDP are not calculated with shipping in mind, as companies are more concerned about raw materials and labour costs than transportation. But that might be changing.


Shipment prices are down 12% from September's record high of $11000, according to the Freightos FBX index. It cost $1300 before the pandemic.

Since 90% of the world's goods are shipped by sea, this risks exacerbating global inflation, which has already been proving to be more troublesome than anticipated.

Sand, chief analyst at the freight rate benchmarking platform Xeneta, says that container shipping costs will not normalize by 2023.

Sand said the higher cost of logistics is not a temporary phenomenon. It could be a major issue for inflation. The element of shipping in overall prices, as small as it may be, is larger than ever before, and it may become a permanent factor in prices moving forward.

After a six-day blockage of the Suez Canal caused worldwide backlogs in March, ocean transport costs soared. As a result, the vessel-hiring market was squeezed further, as uncertainty about future fuel and emissions regulations was driving orders for new ships to record lows.

Then came the surge in demand for goods from consumers in lockdowns caused by Coronavirus, while dockyards struggled with a labour shortage related to Coronavirus.

The Berenberg analysts estimate that 11% of the world's loaded container volume was held up in early November, back to August peaks but still above the pre-pandemic 7%.

Read More: https://topalpha.de/