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Tuesday, April 13, 2021 

Shipbroker Ifchor and carbon market specialist ClearBlue Markets have partnered to offer carbon emissions advisory services to the shipping industry, with the new service, known as Ifchor ClearBlue Oceans intended to help clients navigate changing legislation, source high quality emissions offsets as well as structure and execute carbon offset projects or transactions.

The partnership will provide the shipping sector access to global high quality verified offset registries. The new service is a response to a growing number of requests for shipowners and operators to offset their direct greenhouse gas (GHG) emissions through voluntary carbon standards. The movement of global trade by sea accounts for around 3% of global anthropogenic GHG emissions. With tighter regulation and more proactive stakeholder involvement in reducing carbon emissions from shipping, the industry is moving towards a low-carbon future, with the aim of Ifchor ClearBlue Oceans being to help participants stay ahead of changing climate policy.

Trifon Tsentides, Director of Business Development, Ifchor said: “The combined strengths of a shipbroker and renowned carbon market specialist will help shipowners and charterers alike navigate their way through the complexities of carbon offsetting. From creating plans and strategies, to executing and registering trades, we are providing clients with a complete set of actionable tools to reduce their operational carbon footprint. With emissions from shipping looking likely to fall under mandatory carbon pricing regimes in the future, voluntary pledges allow emitters to build their experience of the carbon markets and make a positive difference from today.”

Nicolas Girod, Director of Markets, ClearBlue Markets, said: “Carbon offset markets have matured significantly since their inception over two decades ago. Today carbon emitters can purchase credits which enable investments in projects which make an impact, confident in the knowledge that these initiatives are independently verified, traceable and that they will meet their stakeholders’ expectations. Today, the cost of offsetting emissions is far below the cost of abating emissions in the shipping sector. As such, it offers participants the chance to plan in more longer-term direct emissions reductions while charting a climate conscious course today. We help clients to better understand the carbon market, looking at price drivers, different trading approaches as well as build carbon pricing compliance strategies, develop offset projects and provide instant updates on significant market developments and changes to carbon prices.”

Ifchor ClearBlue Oceans is offering bespoke short and long-term solutions for shipping clients. In the short term, the partnership will focus on neutralising carbon emissions. Voluntary offsets are a way of facilitating this today; helping participants to act more quickly and become familiar with carbon pricing. Over the longer term, Ifchor ClearBlue Oceans will assist clients to secure funding for and implement more permanent solutions. These include carbon capture and storage as well as renewable fuels. The partnership’s objective is that its clients be at the forefront of a transition to a low-carbon future. While long-term solutions are on the horizon, action is being increasingly demanded today.

The partnership will structure a variety of offset transactions tailored to a shipping company’s or charterer’s specific needs through its global network of offices and strong relationships with offset project owners, carbon offset suppliers and developers. Ifchor ClearBlue Oceans says it sources only high-quality offsets using the most reliable offset standards and registries. The service can advise the shipping sector on the regulatory environment and more specifically on preparing for future compliance under mandatory carbon pricing regimes.

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