Signal Ocean launches CO2 emissions tool

The Signal Ocean platform has launched a tool that would help tanker and dry bulk market participants assess the CO2 impact when chartering ships.

The calculation of the tool takes into account the ballast leg of any voyage as well as any route deviations already taken by any given available vessel. Other factors include the vessel’s size, age, speed, loading conditions, shipyard, use of scrubbers and the type of fuel used.

The service covers crude and product tankers ranging from handysize up to VLCC as well as dry vessels from capesize down to handysize.

“We’re proud to be helping raise awareness of emissions at a critical stage of the ship selection process. Ships today are competing in the market not just on charter rates and safety records, but also their environmental footprint. We track over 30,000 ships, and have created a tool designed to help those charterers and brokers who want to compare their vessel options on a range of criteria, not just cost competitiveness,” said Signal Ocean COO Dimitris Tsapoulis.

“Whilst the precise actual CO2 emissions of any given voyage will depend on a range of factors including weather conditions and individual operational efficiencies achieved, we have created a credible, simple system of ranking available ships for a specific cargo by estimating the carbon intensity of their voyage,” Tsapoulis added.

The Signal Ocean Platform was launched in 2018 and it uses algorithms and machine-learning to support users’ decision making.

In order to meet the client’s demand for decarbonisation, a number of companies including Flexport, RightShip, OOCL and DHL also introduced carbon calculation tools.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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