Companies who have adopted policies to remove inefficient vessels from their supply chain are enjoying the economic and sustainability benefits flowing to their business.Read More
As of early 2018, 52 of RightShip’s chartering customers, who between them transport 2.4 billion tonnes of cargo per annum factor energy efficiency into the vessel selection process. This represents around 31,500 vessel movements a year or 20% of global trade.
RightShip’s GHG Emissions Rating provides a transparent method to assess the relative efficiency of vessels.
The GHG Rating gives charterers the opportunity to:
An independent study undertaken by the Tyndall Centre for Climate Change Research1 has shown that using the GHG Rating to eliminate F & G rated vessels from a supply chain saves an organisation up to 9% in carbon dioxide emissions and 9% in fuel costs.
“By using more-efficient ships, we are gaining cost efficiencies and furthering our efforts to reduce Mosaic’s carbon footprint. Given the success of GHG Emissions Rating vetting, we are reviewing options to also exclude F-rated vessels. Emissions from shipping currently represent less than 5 percent of Mosaic’s carbon footprint.”
1 Gilbert, P. Bows, A. and Starkley R (2010). Shipping and Climate Change: Scope for Unilateral Action. Manchester: The University of Manchester and the Tyndall Centre. View the resource here.
Shipowners use the GHG Rating to benchmark their vessels and demonstrate the benefits of investing in efficiency.Read More
Transparency around efficiency is essential and increasingly useful in informing selection practices and ensuring efficient vessels are adequately recognised and rewarded.
Key benefits to shipowners include:
Financial Institutions use the GHG Rating to minimise or mitigate lending risk and to develop more sustainable practices.Read More
As the trend towards sustainable investment grows, financial institutions increasingly factor sustainability into their lending criteria.
Energy efficient vessels often have lower fuel costs and better chartering potential, which can ensure greater return on investment over the lifetime of the vessel. In addition, a more efficient vessel may align more closely with an organisation’s Corporate Social Responsibility (CSR) requirements.
Key benefits for financial institutions include:
Efficiency data is also being used in credit-approval processes for vessel purchases, loan assessments for retrofit projects and re-sell of scrapping decisions, with banks citing efficiency as a key indicator for a vessel’s profitability.