Launched in October 2020, the charter provides a global mechanism to align chartering activities with responsible environmental actions in order to facilitate the decarbonisation of international shipping.

It is consistent with the ambition of the International Maritime Organization to peak GHG emissions from international shipping as soon as possible and to reduce GHG emissions by at least 50% relative to 2008 levels by 2050.

“We believe the charter, along with other global green initiatives we are involved with, including Poseidon Principles and the Getting to Zero Coalition, will help our industry reach IMO 2030 and IMO 2050 emissions reduction targets. At Eagle, we continue to execute on both strategic and operational efficiency initiatives in order to improve our carbon footprint, such as: fleet renewal, installing energy saving devices, applying low friction hull coatings, and leveraging data to optimize voyage execution," Gary Vogel, Eagle Bulk’s CEO.

The Charter brings together some of the largest oil, agriculture, mining, and commodity trading companies in the world, including Trafigura, Cargill, and Shell, which have committed to reporting on the reduction of CO2 emissions from their shipping activities in line with the decarbonization objectives of the industry.

The announcement comes days after the company announced that it had purchased for $16 million a high-specification 2015-built SDARI-64 scrubber-fitted Ultramax bulk carrier.

The vessel to be renamed M/V Oslo Eagle was built at Chengxi Shipyard Co. and is scheduled for delivery to the fleet in the first quarter of 2021.

There are 48 ships in the company's fleet, including 21 Ultramaxes purchased during the past few years.

Maritime Business World