The maritime industry’s attention is shifting towards ports as it seeks ways to reduce emissions through optimization. Eman Abdalla, Global Operations Director at dry bulk shipping behemoth Cargill Ocean Transportation, emphasizes the importance of data transparency and standardization in achieving these emission reductions. Geneva-based dry bulk shipping behemoth Cargill Ocean Transportation compares the situation to using Google Maps: just as the app uses data to find the most efficient route for a driver, shipping companies are using similar optimization software to run their vessels more efficiently. However, the analogy highlights a significant issue – the equivalent of traffic congestion at the ports. If ships could avoid delays at ports, like drivers avoiding traffic jams, they would have more opportunities to choose fuel-efficient routes and maintain timely arrivals. This comparison underlines the critical role of ports in the broader effort to cut operational emissions in the shipping industry. 20-November-2023
Dry bulk shipping behemoth Cargill Ocean Transportation, Lloyd’s Register (LR), Minerva Dry, and Nantong COSCO KHI Ship Engineering Co (NACKS) have joined forces to design a kamsarmax bulk carrier equipped for methanol fuel and rotor sail propulsion. Chris Hughes, a decarbonization expert at Cargill Ocean Transportation, commended the team’s proactive approach and openness to innovative ideas and technologies. Chris Hughes highlighted that instead of merely adapting a conventionally-fueled design with minimal readiness, Cargill Ocean Transportation prioritized a methanol-fueled design from the outset. This approach ensures the design is genuinely prepared and viable for conversion to methanol fuel. Nikos Kakalis, the global bulk carriers segment director at Lloyd’s Register (LR), emphasized the importance of collaboration across the maritime sector. Nikos Kakalis stressed the need for commercially viable bulk carriers that not only meet industry demands but also adhere to increasingly stringent GHG emission standards. 4-October-2023
Dry bulk shipping behemoth Cargill Ocean Transportation, in collaboration with Minerva and other partners, has achieved a significant milestone in the pursuit of carbon-neutral shipping. They have designed a kamsarmax bulker that is prepared to utilize both methanol as fuel and wind for propulsion. This joint venture includes not only Cargill and Minerva but also the classification society Lloyd’s Register (LR) and shipbuilder Nantong Cosco KHI Ship Engineering (NACKS). US chartering and trading giant Cargill Ocean Transportation has been at the forefront of sustainable shipping solutions, championing the use of wind propulsion and methanol-fueled bulk carriers. Their International unit has collaborated with Minerva Dry, a Greek shipowner, to bring this design to fruition. Cargill Ocean Transportation’s commitment to sustainable shipping is further evidenced by their previous order of the first bulker powered by methanol. This development marks a significant step forward in the shipping industry’s journey towards reducing its carbon footprint and embracing more sustainable and eco-friendly solutions. 2-October-2023
Geneva-based dry bulk shipping behemoth Cargill Ocean Transportation which has commissioned the vessel, envisions this innovation as a beacon guiding the maritime domain towards an eco-conscious horizon. The WindWings sails, exquisitely crafted, are geared towards diminishing fuel reliance and consequently attenuating the carbon imprint of maritime transport. The shipping industry’s carbon footprint ostensibly accounts for approximately 2.1% of the planet’s CO2 emissions. The inaugural voyage of the Pyxis Ocean, a voyage spanning from China to Brazil, stands as a litmus test for the efficacy of the WindWings. It presents a pivotal moment to evaluate if reverting to time-honoured propulsion methods could revolutionize marine freight logistics. These sails, towering at an impressive 37.5 meters, remain folded during port stays but majestically spread out on the high seas. Crafted from the resilient materials akin to wind turbines, they epitomize durability. By harnessing the sheer power of the winds, instead of an exclusive reliance on conventional engines, there’s an aspiration to curtail a vessel’s cumulative emissions by up to 30%. Jan Dieleman, the esteemed president of Cargill Ocean Transportation, eloquently expressed the sector’s resolute “odyssey towards decarbonization.” While conceding the absence of a “miraculous panacea,” he underscored the rapid advancements manifesting in this sphere. Not long ago, the maritime community harboured scepticism regarding the feasibility of decarbonization. With conglomerates like Geneva-based dry bulk shipping behemoth Cargill Ocean Transportation taking the helm, the shipping industry is steering towards an eco-friendlier future. Pyxis Ocean’s impending voyage is anticipated to span six weeks, but the technology’s genesis can be traced back to the rapid-paced world of yacht racing. Conceived by the United Kingdom’s BAR Technologies, it’s an offshoot of Sir Ben Ainslie’s formidable 2017 America’s Cup team. John Cooper envisages this sojourn as a watershed moment for the maritime sector. With potential fuel savings of up to six tonnes daily, the ecological and economical implications are staggering. While the concept germinated in the United Kingdom, manufacturing takes place in China, primarily due to fiscal challenges tied to imported steel in Britain. Dr Simon Bullock, a maritime scholar from the University of Manchester’s Tyndall Centre, opines that harnessing the winds is a promising venture. In a world awaiting greener fuels, retrofitting vessels with sails and other eco-friendly apparatus becomes paramount. Corroborating this sentiment, Stephen Gordon, at Clarksons Research, acknowledged the burgeoning interest in wind-propulsion technologies. Albeit the numbers remain modest, the momentum is palpable. However, Stephen Gordon also offers a note of caution, highlighting the heterogeneity of the global fleet and potential limitations of wind technology, particularly when vessel functionalities might be compromised. Nevertheless, John Cooper remains sanguine about the future of WindWings. John Cooper finds poetic justice in the maritime world potentially gravitating back to its wind-driven roots. A sentiment he whimsically describes as “back to the future.” 21-August-2023
Dry bulk shipping behemoth Cargill Ocean Transportation is currently engaged in negotiations for one or two additional bulk carriers to utilize alternative bunkers. While Cargill Ocean Transportation did not join the ranks of companies that placed orders for an additional 10 methanol-fueled bulk carriers at Tsuneishi Shipbuilding, this colossal maritime operator is delighted to witness others embracing this trend. Following the signing of a groundbreaking newbuilding deal to initiate the competition, Cargill Ocean Transportation CEO Jan Dieleman revealed that Cargill Ocean Transportation is in discussions for the acquisition of one or two more vessels, in addition to the four kamsarmax bulk carriers that are already scheduled for charter with the company. 15-June-2023
Copenhagen-based shipowner and operator, Lauritzen Bulkers, has signed a letter of intent (LOI) with Tsuneishi Shipbuilding to construct two kamsarmax bulk carriers that are fueled by methanol dual-fuel. The newbuildings are backed by long-term time charters to Cargill Ocean Transportation, which is headquartered in Geneva. The vessels will have a capacity of 81,000 deadweight tons (DWT) and are scheduled for delivery in 2026. Lauritzen Bulkers is actively involved in the decarbonization of the shipping industry and is proud to be partnering with Cargill Ocean Transportation to drive change in the industry. The two kamsarmax bulk carriers will operate using green methanol and biodiesel, resulting in zero-carbon emissions. Lauritzen Bulkers has also formed a new firm called Lauritzen NexGen Shipping, which will initially own the two kamsarmax bulk carriers and serve as a platform for further investments in zero-carbon and sustainable shipping assets. The joint venture with Cargill Ocean Transportation has been facilitated by the Copenhagen Commercial Platform (CCP), which will play a crucial role in the operation and future expansion of this partnership. In addition to this, 80 newly constructed ships fueled by methanol have been ordered with expected delivery dates extending up to 2028, according to data compiled by the classification society DNV. Recently, new orders have been placed for the first-ever methanol-capable car carriers, methanol bunkering tankers, and chemical tankers that are methanol-ready. The rising trend in methanol-fueled shipping is being led by several companies, including AP Moller-Maersk, a Danish container shipping giant. 4-April-2023
Switzerland-based Cargill Ocean Transportation expressed that the panamax and kamsarmax bulk carrier market looks pretty solid amid low commodities stocks and the potential for stimulus measures in China. Jan Dieleman-led Cargill Ocean Transportation stated that midsize bulk carriers are chartered out for year-plus fixtures at a premium to the spot market. According to Baltic Exchange, three (3) panamax bulk carriers were chartered out for a year time charters on Friday. 31-January-2023
Geneva-based Cargill Ocean Transportation notified that the Cargill Group has publicly supported the International Maritime Organization’s (IMO’s) global sulphur cap since 2016. Switzerland-based Cargill Ocean Transportation has been using International Maritime Organization’s (IMO’s) global sulphur-compliant bunkers for most of the chartered fleet. Furthermore, most of Cargill Ocean Transportation’s chartered fleet is fitted with exhaust gas cleaning systems that will resume operating the high-sulphur bunkers in authorized geographical zones. Jan Dieleman-led Cargill Ocean Transportation described how the company has adapted to the new bunker regime for Cargill Ocean Transportation’s controlled fleet of 600 vessels. US chartering and trading giant Cargill Ocean Transportation has announced how the company’s IMO (International Maritime Organization) 2020 preparations have helped Cargill Ocean Transportation’s performance during the transition to low-sulphur fuels. US chartering and trading giant Cargill Ocean Transportation has benefited from the company’s enthusiasm for the upcoming shipping industry transformation to low-sulphur fuels that began on 1 January 2020. Cargill Ocean Transportation has taken a portfolio strategy for IMO (International Maritime Organization) compliance because there is no single solution for complying with the new IMO 2020 regulation. US chartering and trading giant Cargill Ocean Transportation has prepared considerably for two years to secure that Cargill Ocean Transportation’s chartered mixed fleet of more than 600 ships was thoroughly prepared well before 1 January 2020. US chartering and trading giant Cargill Ocean Transportation preserved close dialogue with shipowners, secured ship-by-ship performance plans, and guaranteed compliant bunkers from respectable bunker suppliers. Furthermore, Cargill Ocean Transportation installed exhaust gas cleaning systems onboard some of the ships. US chartering and trading giant Cargill Ocean Transportation will handle the risk of higher bunker prices by continuing to ensure agreements with respectable bunker suppliers. Cargill Ocean Transportation is hedging the company for low sulphur bunker exposure. US chartering and trading giant Cargill Ocean Transportation reported revenue of around $29 billion in Q2 2019. Jan Dieleman-led Cargill Ocean Transportation’s constant company transformation, as well as contemporary investments and developed abilities, are all assisting the company to continue to increase Cargill Ocean Transportation’s performance. 8-January-2020
US chartering and trading giant Cargill Ocean Transportation keeps Diana Shipping’s 2010 built kamsarmax bulk carrier 82K DWT MVMedusa on time-charter for around another year. Jan Dieleman-led Cargill Ocean Transportation took the Medusa on period charter in September 2018 at a daily rate of $14,000. However, Cargill Ocean Transportation will be paying a gross charter rate for the extended period is $11,000 per day. 2010 built kamsarmax bulk carrier 82K DWT MVMedusa has been extended at a time charter rate that is around 21% lower than in the initial time charter. US chartering and trading giant Cargill Ocean Transportation will be paying about $3.47 million for the minimum scheduled period of the time charter to Diana Shipping. 15-November-2019
US chartering and trading giant Cargill Ocean Transportation, Japanese shipowner Mitsui & Co, and Maersk Tankers to test eco methods and technologies and eventually aim to share them for a cut of the bunker savings. Jan Dieleman-led Cargill Ocean Transportation and Mitsui & Co teamed up with Maersk Tankers in early October to establish a coordinated project to share their knowledge of how to make cuts to greenhouse gas emissions from the vessels Cargill, Mitsui, and Maersk Tankers own or operate. US chartering and trading giant Cargill Ocean Transportation, Japanese shipowner Mitsui & Co, and Maersk Tankers will establish a new stand-alone operation that would have the skills, technology, and finance to deliver turnkey solutions for other partners to decrease carbon emissions. Payback for the investment would be through bunker savings. US chartering and trading giant Cargill Ocean Transportation, Japanese shipowner Mitsui & Co, and Maersk Tankers have started an initial 12-month pilot project on around 30 tankers and bulkers, testing emission-saving technologies and techniques. Cophenhagen-based Maersk has extensive experience in testing out new technologies because the company has such an extensive fleet that Maersk can outstretch the investments. Maersk Tankers aim to decrease carbon emissions for the shipping industry as a total. Previously, Maersk Tankers has made bunker savings of 8.2% on a product tanker that had two (2) Flettner rotor sails fitted. Furthermore, Maersk Tankers is testing optimal power management at the port, automated lubrication, and route optimization with SIMBunker digital tool. US chartering and trading giant Cargill Ocean Transportation operates about 700 vessels at any one time. Cargill Ocean Transportation has already commenced cleaning up the company’s fleet by being selective of the type of ships chartered as the first step in decarbonizing the shipping industry. According to Cargill Ocean Transportation, complete decarbonization will merely be accomplished with new fuels and technologies in years to come. Mitsui & Co carries a tremendous scale as a trading house, shipbroking and shipowning expertise, and a substantial network among Japanese, South Korean, and Chinese shipbuilders. Mitsui & Co want to contribute to this environmentally-friendly programme. Mitsui & Co has been already speaking to Japanese shipowners who are considering fitting energy-saving appliances to their fleet. Mitsui & Co said testing and proving technologies to cut greenhouse gases will give capital providers the confidence to finance retrofitting the equipment. US chartering and trading giant Cargill Ocean Transportation believes that after the first year, the three players will examine whether to resettle the project into a formal joint venture with a stand-alone management system. 5-November-2019
One of the world’s biggest ship operators Cargill Ocean Transportation urges IMO (International Maritime Organization) to act quickly on carbon emissions. US chartering and trading giant Cargill Ocean Transportation has called IMO (International Maritime Organization) for immediate action to enforce a clear legal framework around the decarbonization of shipping. Jan Dieleman-led Cargill Ocean Transportation warned IMO (International Maritime Organization) that without clarity the globe could slide into a patchwork of contradicting national and regional rules which would slow and complicate the cleaning up of the shipping industry. The shipping industry required the IMO (International Maritime Organization) to act fast to put in place clear purposes and international regulations. US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation operates around 670 bulk carriers annually. IMO (International Maritime Organization) has set an initial target of a 50% decrease in shipping’s carbon emissions by 2050 on the 2008 level, to set firm targets by 2023. Currently, the shipping industry’s emissions are estimated to be approximately 2.2% of the international total. According to US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation, increasing nationalism and protectionist trade approaches from several prominent governments have strained the system of multi-lateral policy-making. Furthermore, according to United Nations Conference on Trade and Development (UNCTAD), the shipping companies should not wait for IMO (International Maritime Organization) but instead, be proactive and take the lead with their coordinated strategy. 29-October-2019
US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation’s profit decreases by 10% despite a small revenue increase. US chartering and trading giant Cargill Ocean Transportation states the company is concentrated on updating all aspects of shipping operations. In Q1 2019, Jan Dieleman-led Cargill Ocean Transportation reported a $915 million net profit. In Q1 2019, Cargill Ocean Transportation reported $908 million in operating earnings. US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation will resume to assist customers to navigate unexpected business circumstances. Geneva-based Cargill Ocean Transportation’s global trading business noticed reasonable year-on-year improvement, as it was well-positioned across commodities. 25-September-2019
US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation has reported a 20% decline in earnings as shipping markets lagged in 2018. US chartering and trading giant Cargill Ocean Transportation reported net earnings for Q2 2019 of $741 million. Cargill Ocean Transportation reported an operating profit for Q2 2019 of $853 million. Cargill Ocean Transportation reported revenue for Q2 2019 of $28 billion. Jan Dieleman-led Cargill Ocean Transportation exemplified that the ocean transportation business lagged in 2018 as freight markets plunged sharply in reaction to a weakening macroeconomic view. Geneva-based Cargill Ocean Transportation blamed the ambivalent effects of trade conflict on commodity flows and the hesitance of third-party charterers to hire vessels ahead of the implementation of new IMO 2020 rules on sulphur dioxide emissions. Cargill Ocean Transportation aims to prepare businesses for the future with steady progress, monetary discipline, and a disruptive perspective. 14-July-2019
US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation has reported a 67% drop in Q4 net profit. Jan Dieleman-led Cargill Ocean Transportation blamed an extremely difficult international business environment for the figure of $235 million in the three months to 31 May. Cargill Ocean Transportation has reported net earnings decreased by 17% to $2.56 billion for the year. In Q4, Cargill Ocean Transportation reported revenue of $29.9 billion. Cargill Ocean Transportation reported revenue of $113 billion for the full year. One of the world’s biggest ship operators Cargill Ocean Transportation stated that throughout the year, the company encountered extremely difficult international business circumstances that slowed earnings. However, Cargill Ocean Transportation decreased costs company-wide. Chartering giant Cargill Ocean Transportation is concentrated on what the company can best control: moving faster, raising efficiency, and creating innovative solutions for clients. 10-July-2019
US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation lowers CO2 fleet footprint for the second year running. Jan Dieleman-led Cargill Ocean Transportation concentrated on sustainable shipping as the company declared additional reductions in emissions from Cargill Ocean Transportation’s time-chartered fleet in 2018. Chartering giant Cargill Ocean Transportation announced a 3.6% reduction in the CO2 grams emitted per cargo-ton-mile, compared to 2017. Consequently, Cargill Ocean Transportation saved 350,000 tons of CO2. One of the world’s biggest ship operators Cargill Ocean Transportation aims to meet the company’s 2020 target of a 15% reduction. Cargill Ocean Transportation has already surpassed one of the company’s 2020 targets by achieving 82% of its fleet rated as A to D on RightShip’s GHG (Greenhouse Gas) emission index. In 2017, chartering giant Cargill Ocean Transportation requested third parties for solutions to cut a single ship’s GHG (Greenhouse Gas) emissions by 10%. Minnesota-headquartered Cargill’s shipping arm Cargill Ocean Transportation has been working on new methods in wind propulsion, combustion-enhancing technology, air lubrication, and waste heat recovery. The average RightShip risk rating of Cargill Ocean Transportation’s fleet improved by 5% despite the overall boost in the number of ships employed. Furthermore, Cargill Ocean Transportation had conversations with ship operators about crew conditions. Cargill Ocean Transportation wants to increase seafarer well-being. 10-June-2019
US-based commodities giant Cargill’s shipping arm Cargill Ocean Transportation suggests online trading platforms look beyond covering ship chartering to include pre and post-trade operations in their offerings. Jan Dieleman-led Cargill Ocean Transportation wants online chartering platforms to assist the company drive digital efficiencies. Chartering giant Cargill Ocean Transportation stated that online chartering platforms must be capable of covering commodities transactions and managing pre and post-trade processes. Cargill Ocean Transportation commented that online chartering platforms may not grow without supplementing the trading of commodities onboard ships. According to one of the world’s biggest ship operators Cargill Ocean Transportation, all contracts should be fully digitalized. Many of the newly embarked freight systems have been initiated by start-ups. Nevertheless, prominent charterers such as BHP and Clarksons are also testing the new online chartering platforms. Cargill Ocean Transportation remarked that online chartering platforms must deliver an industry-wide solution. On the other hand, up until now, there have been quite a lot of online chartering platforms, but the shipping market has been hesitant to adopt any of them. The key to being successful for any online chartering platform is the support of a lot of leading players in the dry bulk chartering market. In 2018, Archer Daniels Midland (ADM), Bunge, Cargill Ocean Transportation and Louis Dreyfus Co (LDC), and Cofco International revealed a joint project to standardize data and digitize international agricultural shipping transactions. However, the main chartering market players are going to have to collaborate for an industry solution. If there are various approaches for ship chartering and pre and post-trade processes, there may be substantial costs in integrating them. Cargill Ocean Transportation believes that a lot of money can be saved for the shipping industry by operating fewer and better online chartering platforms. US chartering and trading giant Cargill Ocean Transportation supports blockchain technology and considers that digitalizing all the documents will open up plenty of opportunities. Cargill Ocean Transportation has partnered with Descartes Labs, which utilizes satellite data to forecast forthcoming crop production. The movement towards more digitalization comes as commodities trading companies encounter shrinking margins amid fierce competition. One of the world’s biggest ship operators Cargill Ocean Transportation has been inaugurating external partnerships to design digital projects to optimize supply chains, improve trading outcomes, and assist the company’s buyers and suppliers make more reasonable business decisions. 20-April-2019
Minnesota-headquartered trading giant Cargill’s shipping arm Cargill Ocean Transportation forecasts an upside in bulk carrier rates despite current shipping market weakness. Chartering giant Cargill Ocean Transportation states that recovery in Brazilian and Australian iron-ore exports and a US-China trade agreement can push up earnings in Q4. Climate and industrial incidents, coupled with trade and geopolitical tension, have pushed spot earnings for bulkers below $10,000 per day this year across the ship classes. US chartering and trading giant Cargill Ocean Transportation believes capesize bulk carrier rates are presumably bottoming out if the iron-ore supply disruptions in Brazil and Australia can be settled. Brazilian mining giant Vale had anticipated iron-ore sales to fall to 75 million tonnes in 2019 after a burst dam forced the Vale to close several mines in January. Cyclone Veronica provoked Rio Tinto to decrease iron-ore production by six million tonnes and BHP by 14 million tonnes on an annualized basis. In other words, 100 million tonnes of iron-ore losses in 2019. Nevertheless, some shipping market players foresee firm iron-ore prices will incentivize the mining goliaths to increase shipments as soon as they can. Chartering giant Cargill Ocean Transportation expects that panamax and supramax bulk carrier earnings have rebounded since February the commencement of the grain export season in South America. Cargill Ocean Transportation expects that the ship chartering environment should strengthen further if the US and China can find a resolution to their trade conflict. Afterward, Chinese imports of US soybean could recover from approximately 25 million tonnes to 35 million tonnes per annum. Cargill Ocean Transportation expects that China would buy more US soybean when the export season commences in September. Cargill Ocean Transportation stated that the sentiment will improve. Cargill Ocean Transportation has long been a supporter of free trade, however geopolitical and trade tensions have played an increasing role in seaborne trade in the past year. Chartering giant Cargill Ocean Transportation will operate in a volatile environment whether it’s due to disruptions to supply chains or geopolitics. Cargill Ocean Transportation believes that every charterer must have a reasonable risk-management capability. 13-April-2019
Minnesota-headquartered trading giant Cargill’s shipping arm Cargill Ocean Transportation has reported a drag on the company’s earnings from the gloomy Vale dam disaster in Brazil in January. The Vale dam disaster in Brazil killed at least 206 people. The Vale dam disaster in Brazil provoked iron ore futures prices in China to increase sharply and capesize bulk carrier freight rates to plunge enormously. Chartering giant Cargill Ocean Transportation communicated that the shipping rates commenced strengthening by quarter-end, but concerns about a downshift in international growth resumed to weigh on shipping markets. Cargill Ocean Transportation’s teams captured greater efficiencies across the company. Cargill Ocean Transportation has concentrated on growth goals. One of the world’s biggest ship operators Cargill Ocean Transportation reported net earnings of $566 million for the quarter. Cargill Ocean Transportation reported revenue of $26.9 billion for the quarter. 1-April-2019
Cargill Ocean Transportation chartering department has posted an increased net profit of $1 billion in Q3 2018 which is up 5% from Q3 2017. Cargill Ocean Transportation has reported revenue was also up 5% to $28 billion in Q3 2018. Cargill Ocean Transportation showed good performance in trade finance and commodity risk management. Cargill Ocean Transportation business demonstrated leadership in decarbonizing the shipping industry by committing to reduce its carbon dioxide output per cargo-ton-mile by 15% by the end of 2020. 18-December-2018
Cargill Ocean Transportation chartered in 2016 built capesize dry bulk carrier 179K DWT M/V Anangel Brilliance from Greek shipowner and operator Anangel Maritime for one year for $19K per day. Greek shipowner and operator Anangel Maritime bought the capesize dry bulk carrier M/V Anangel Brilliance from Scorpio Bulkers in 2015 for $44 million. 2-April-2017
Commodity Trader Cargill will cut back on asset sales after a $2.4 billion disposal effort in 2015. One of the major dry bulk carrier charterers and shipping market player Cargill Ocean Transportation reported a drop in full-year adjusted earnings. In the first half of 2016, Cargill Ocean Transportation reported operating earnings of $1.6 billion. Other commodity giants Archer Daniels Midland and Bunge have similar shrinking margins in 2016. 12-August-2016