28 Oct
Carbon emissions from global shipping hit an all-time high in the third quarter of 2024, as challenges across the supply chain continue to escalate. Major contributors include the ongoing conflict in the Red Sea, increased freight rates, and significant congestion across ocean routes. These pressures drove carbon emissions to unprecedented levels, as recorded by the Xeneta and Marine Benchmark Carbon Emissions Index (CEI), which monitors emissions for the top 13 global shipping trades. The index reached 107.9 points in Q3, marking a 12.2% rise compared to a year ago, reflecting heightened emissions per tonne of cargo.
Routes heavily impacted by detours around Africa, especially those between the Far East and North Europe, saw the most considerable emission increases. Emissions on some of these routes rose by over 30% year-over-year, with the Far East to Mediterranean trade experiencing a steep 60.1% rise. However, emissions on certain routes unaffected by the Red Sea conflict saw decreases, demonstrating the localized impact of the disruptions.
Further factors driving emissions include increased speeds and decreased ship capacities, as carriers prioritize timely returns for scheduled routes over emissions reduction. Amid high demand, environmental goals are taking a back seat, with the priority shifting to securing capacity and meeting shipping schedules.
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source: freightnews.co.za
