World News
Eastern Pacific Shipping Reports 6.4% Drop in Emissions Per Transport Work in 2020
Eastern Pacific Shipping reported a 6.4% drop in its carbon emissions per transport work last year as the company seeks to bear down on its environmental impact.
The company saw carbon emissions of 4.4 g per tonne-mile last year, down from 4.7 g/tonne-mile in 2019. The emissions have dropped by 13.7% since 2015's level of 5.1 g/tonne-mile.
The company has not released its emissions per transport work for 2008, but the improvements over the past five years are likely to have put it well on the way to meeting the IMO target of cutting by at least 40% from 2008's levels by 2030.
"While the ultimate objective is zero emissions, that is simply not feasible today," Cyril Ducau, CEO of Eastern Pacific Shipping, said in a statement on the company's website on Thursday.
"What is feasible is using various resources currently available to significantly lower CO2 emissions and greenhouse gas emissions in general.
"Vessel optimisation technology, alternative marine fuels, like LNG, LPG, and biofuels, and a workforce dedicated to the greater good, has proven that cleaner shipping is achievable today."
In September the company signed a deal to charter five LNG-fuelled bulk carriers to BHP to take iron ore cargoes from Australia to China. And in October it announced a trial of biofuel bunkers on board one of its MR tankers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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