In an era where sustainability is a high priority for businesses worldwide, an important question arises: Is shipping, a key pillar of global trade, truly sustainable? Given that shipping is a critical enabler of the global economy, it faces a unique set of challenges when it comes to sustainability.
A new disclosure report from the Sea Cargo Charter (SCC) – a climate alignment initiative developed by the Global Maritime Forum – reveals that challenges remain in reaching the climate alignment despite the maritime emission progress.
Signatories to the Sea Cargo Charter – 37 bulk charterers and shipowners – were still 12% behind the minimum international climate goals set by the IMO in 2024, up from 9% the previous year.
The new data produced by the Global Maritime Forum show that 19 of 34 shipowners and charterers in climate alignment initiative have reduced their emission intensity over the last year, eight improved their climate alignment scores, and several have reported enhanced integration of emissions metrics into operational and chartering decisions.
However, action will need to accelerate to keep up with the ambitious emission reduction targets set by the International Maritime Organization (IMO), which become more stringent year-on-year.
The 34 charterers and shipowners featured in the report represent around 18% of global wet and dry bulk cargo transported by sea in 2024.
Only 34 of the 37 Sea Cargo Charter signatories are part of this year’s report, as three signatories joined in the fourth quarter of 2024 and in the first quarter of 2025 and are thus not required to report this year.
External conditions such as regional port limitations (e.g. draft restrictions), challenging weather patterns, inefficient routing, and reliance on short-term charters, continue to contribute to climate alignment shortfalls.
“Nevertheless, signatories have made notable strides in improving data quality and transparency. Over 90% of the 2024 data was verified by third parties, up from 50% the year before, demonstrating increased commitment to credible, science-aligned reporting,” the Sea Cargo Charter (SCC) said in a release yesterday.
To date, 37 companies have committed to the Sea Cargo Charter. Signatories are bulk charterers and shipowners who have committed to measure the emissions intensity of their chartering activities on an annual basis and to assess their climate alignment relative to established decarbonisation trajectories.
Notable members include ADM, Anglo American, Bunge, Cargill Ocean Transportation, Chevron, COFCO International, Diana Shipping Inc., Equinor, Gunvor Group, Klaveness Combination Carriers, Louis Dreyfus Company, Maersk Tankers, MC Shipping Ltd. Singapore Branch, Navig8 Group, Norden, Shell, Stolt Tankers, TotalEnergies and Trafigura (among others).
“Voluntary initiatives like ours remain essential to driving meaningful progress and collaboration across the sector, particularly as industry targets become more ambitious, and I’m proud to see our signatories continuing to lead by example,” commented Engebret Dahm, Sea Cargo Charter vice chair and CEO of Klaveness Combination Carriers.
