Swiss trade major, Cargill along with ZeroNorth entered a strategic agreement so as to develop new digital solutions for shipping decarbonization.
Cargill, Maersk Tankers and Mitsui & Co. announced the establishment of a collaboration to advance the reduction of global greenhouse gases (GHGs) in shipping. The companies will work towards lowering maritime GHG emissions by fully exploiting existing fuel-saving technologies and exploring new technical solutions.
Under a new agreement, Cargill will enter its Medium Range (MR) fleet into the existing Maersk Tankers MR pool, creating a new joint pool to increase the scope of their MR spot tanker business. The joint pool is expected to enable vessels to focus on fuel optimization and CO2 emissions reduction, as well as a digitalized approach to trading.
Brazilian port operators, including units of Cargill and Bunge, will present a proposal to reduce Panama Canal tariffs and limit their costs in shipping agricultural commodities to their main market in China. The port operators argue that with the current tariffs, shipping grains from Brazil’s northern ports through the Cape of Good Hope is almost $206,000 cheaper on a per-ship basis than using the Canal.
Following the inauguration of the global ‘CO2 Challenge’ in June 2018, the partners now announced the second stage of the project on the sidelines of the SMM trade fair in Hamburg, with the first in-person meetings with start-ups that will provide innovative technologies.
US-based trade giant Cargill announced the launch of ‘CO2 Challenge’ which aims to find and scale new technologies capable of reducing a ship’s gross CO2 emissions by 10%. The initiative, focused on decarbonizing the shipping sector, is being launched in partnership with DNV GL.
Cargill plans to reduce shipping emissions 15% by 2020, in an attempt to comply with new regulations which mandate the reduction of pollution. For this reason, the company demanded from some of its food manufacturer customers to conduct more environmentally-friendly operations.
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