There are actions the shipping industry can take to improve efficiencies: through route optimization and better planning; building new fuel-efficient vessels; and, the chartering of vessels with lower emissions.

...Trafigura noted in its responsibility report for 2019.

Moreover, company supports the carbon pricing mechanism on marine emissions in order to ensure a level playing field on the shipping industry while enhances the mandatory introduction of slow steaming which is considered as a silver bullet in reducing the emissions intensity of the global fleet.

We consider both initiatives would be significant steps towards achieving the IMO GHG reduction targets, but we also acknowledge the difficulties in introducing and enforcing global initiatives on marine shipping.

According to Reuters, Trafigura's total emissions rose by 26% to 8 million tonnes of carbon dioxide equivalent (tCO2e) during 2019, from 6.38 million tCO2e in 2018 of which seaborne trade accounted for 89% of its total. Main responsible for this growth were the increased volumes traded.

We are working to reduce the emissions intensity of our shipping fleet. Demands for environmental impact data have grown in recent years. This year, we are pleased to report improved accuracy of measurement of all emissions for which we are responsible. Better accuracy gives us greater confidence in our ability to report and benchmark our emissions intensity: the greenhouse gas emissions attributable to each tonne of commodity moved per kilometer.

...the company continued.


In light of the situation, Trafigura has also entered into the Global Maritime Forum's "Getting to Zero Coalition", to achieve shipping decarbonization through the development and deployment of commercially viable zero-emission vessels by 2030.