World News
Navigator Hails First Carbon-Neutral Voyage Using Offsets
Gas carrier operator Navigator Holdings is using carbon offsets to reduce its emissions footprint.
The company has announced its first carbon-neutral voyage, buying carbon offsets for the voyage of one its Handysize LPG carriers taking a cargo across the Atlantic.
The company offset 1,068 mt of CO2 emissions by supporting a UN-verified renewable energy project in the Philippines, Navigator said in a statement on its website Tuesday.
"Offsetting is one of several tools we choose to use in order to deliver a true carbon-neutral voyage," Oeyvind Lindeman, chief commercial officer at Navigator, said in the statement.
"We are looking at ways to further promote and develop similar voyages in collaboration with our stakeholders."
Carbon offsets will not be able to solve the shipping industry's emissions problem over the longer term, as not enough would be available to counter the industry's total carbon footprint. But they may be of use in the short term to attract environmentally-conscious customers and lenders while zero-carbon fuel technology remains in its infancy.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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