Cargill, Huntsman and UNIPEC to Charter Only Efficient Vessels

Cargill, one of the world’s leading international transporters, producers and marketers of food, agricultural, financial and industrial products, Huntsman Corporation, the global manufacturer and marketer of differentiated chemicals and UNIPEC UK Company Ltd, trader of crude oil and oil products, have earlier this month that they will only charter the more efficient vessels operating in the shipping market.

The decision, from the three charterers, who together charter over 350 million tonnes of commodities annually, signifies a milestone for the vessel fuel efficiency ratings system, the Existing Vessel Design Index (EVDI), created by ship vetting specialist RightShip and published on ShippingEfficiency.org, as an GHG Emissions Rating (A-G rating) benchmarking system.

The efficiency ratings system enables charterers to instantly see a ship’s theoretical greenhouse gas emissions and relative energy efficiency as determined by RightShip’s EVDI rated from A (most efficient) to G (least efficient), compared to ships of similar size and type.

According to Peter Boyd, COO of Carbon War Room, this deal represents the first major capital shift on behalf of the charterers towards making greater efficiency a factor in their vessel chartering decisions. Moreover Mr. Boyd claimed that  the charterers will see lowered operating costs through fuel efficiency.

Source: RIGHTSHIP

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: