Trafigura sets out environment position

Malcolm Latarche

Malcolm Latarche · 17 January 2020

ShipInsight


In a statement issued to coincide with the publication of its 2019 Responsibility Report, the co-chairs of commodity trader and ship operator Trafigura’s HSEC Steering Committee have set out their approval of slow steaming and a carbon levy on fuel.

The statement by Jonas Moberg and Andrew Vickerman highlights that seaborne trade is vital to the company’s business model but accounts for 89% of its emissions.

The statement goes on to say, “Given that Trafigura operates a small fleet of controlled vessels, our emissions are predominantly generated by third parties. In a fragmented industry, characterised by small margins, there is a pressing need for industry and regulators, amongst others, to come together urgently to mitigate the climate-related risks posed by shipping. For this reason, Trafigura is an active supporter of the Global Maritime Forum.

In 2019, we spoke out in favour of a series of initiatives in support of climate risk mitigation. These included the introduction of a carbon levy for the maritime sector, which we consider necessary to drive the development of zero carbon emitting fuels. We favour regulations in support of slow steaming, meaning that there would be international rules capping vessel speeds – substantially cutting emissions. And we have joined the Global Maritime Forum’s “Getting to Zero Coalition”, calling for accelerated decarbonisation of shipping through the development and deployment of commercially viable zero-emission vessels by 2030.

There are actions the shipping industry can take to improve efficiencies: through route optimisation and better planning; building new fuel-efficient vessels; and, the chartering of vessels with lower emissions. We are working to reduce the emissions intensity of our shipping fleet”.

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