CargoMetrics, which specialises in the systematic monitoring and analysis of maritime trade, has announced the launch of new products that measure maritime emissions and provide unbiased data and insight to regulators, shippers and multi-national corporations that face increased pressure to reduce greenhouse gas emissions.
CargoMetrics’ Maritime Emissions – Global Benchmark products are intended to 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 ETS GHG trading scheme.
The products are part of the bompany’s Better-Built Data product suite and have been generated systematically with point-in-time organisation of data and history back to January 2013, with deployment of physical modelling, statistical modelling, and machine learning techniques.
CargoMetrics CEO Jes Scully said: “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.”
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 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; analyzing volume, trends and volatility
- Enhancing fundamental models relating to freight, insurance, and financing rates
The Maritime Emissions Global Benchmark products and the EU ETS Carbon Tracker are now available for licensing on AWS Data Exchange (ADX), along with CargoMetrics’ commodity products.
