CargoMetrics launches global maritime emissions data products
Published by Oliver Kleinschmidt,
Editorial Assistant
Dry Bulk,
CargoMetrics has announced the launch of new products that measure maritime emissions and provide trusted, unbiased data and insight to regulators, shippers and multi-national corporations that face increased pressure to reduce greenhouse gas emissions and hedge funds seeking reliable inputs to trading strategies in the fast-growing carbon markets.
CargoMetrics’ Maritime Emissions – Global Benchmark products provide global carbon emissions and fuel consumption metrics by vessel class (tankers, dry bulk, and containers) and vessel size – and include analytics for CO2 emissions per nautical mile, tonne-mile, and container unit (TEU). The Company’s EU ETS Carbon Tracker product reports maritime carbon emissions, in tons per day, subject to the EU Emission Trading System (EU ETS), the world’s leading greenhouse gas trading scheme.
The products are part of the company’s Better-Built DataTM product suite and have been generated systematically with true point-in-time organisation of data and history back to January 2013, with deployment of physical modelling, statistical modelling, and machine learning techniques.
"Our Maritime Emissions - Global Benchmark and EU ETS Carbon Tracker products reflect our scientific approach and provide customers the clarity needed to make data-driven assessments related to maritime emissions and carbon trading in their voluntary, compliance, and speculative applications," said CargoMetrics CEO Jes Scully.
The maritime emissions product suite is derived from CargoMetrics’ continuous observation of vessel movements, behaviour, and state and its fuel consumption model. The fuel consumption model is applied at the individual vessel level and accounts for each vessel’s physical characteristics and the company’s proprietary hydrodynamic propulsion model. The models are developed by the company’s expert naval architects and data scientists and have been validated against on-board fuel consumption flow meters, voyage records, and live sea trials that span the global tanker, dry bulk, and container fleets.
Select use cases and market applications include:
- Benchmarking specific vessels or fleet CO2 emissions and/or fuel consumption against a representative vessel or the global fleet.
- Assessing Scope 3 maritime shipping emissions contributing to the carbon footprint of multinational retail or industrial corporations.
- Constructing carbon trading strategies and informing EU Allowances trading decisions; analysing volume, trends and volatility.
- Enhancing fundamental models relating to freight, insurance, and financing rates.
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Read the article online at: https://www.drybulkmagazine.com/environment-sustainability/22032024/cargometrics-launches-global-maritime-emissions-data-products/
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