Chevron Shipping Joins Sea Cargo Charter

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Shipping Company has joined the Sea Cargo Charter, a benchmark initiative for responsible shipping activities, transparent greenhouse gas reporting, and improved decision making in line with United Nations decarbonization targets.

The Sea Cargo Charter establishes a common baseline to quantitatively assess and disclose whether shipping activities are aligned with adopted climate goals. The Sea Cargo Charter is consistent with the policies and ambitions adopted by the International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating shipping. This includes its ambition for greenhouse gas emissions from international shipping to peak as soon as possible and to reduce shipping’s total annual greenhouse gas emissions by at least 50 percent of 2008 levels by 2050.

“The Sea Cargo Charter provides a global standard for reporting shipping emissions that advances the decarbonization of the maritime industry. We are excited to join and partner with Sea Cargo Charter to enhance the transparency and accuracy of reporting which will promote responsible environmental performance,” said Mark Ross, president of Chevron Shipping Company.

"We are very pleased to welcome Chevron in the Sea Cargo Charter. As a large multinational corporation and an oil major, we look forward to their contribution to our shared goal. It is a real pleasure to see another industry leader joining the Charter thus committing to our objective to decarbonize shipping," said Jan Dieleman, chair of the Sea Cargo Charter Association and president of Cargill’s Ocean Transportation business.

The development of the Sea Cargo Charter has been led by global shippers – Anglo American, Cargill Ocean Transportation, Dow, Norden, TotalEnergies, Trafigura, Euronav, Gorrissen Federspiel and Stena Bulk; with expert support provided by the Global Maritime Forum, Smart Freight Centre, University College London Energy Institute/UMAS, and Stephenson Harwood. The Sea Cargo Charter is intended to evolve over time as the IMO adjusts its policies and regulations to the changing environmental landscape.

ABOUT CHEVRON SHIPPING COMPANY:

Chevron Shipping Company LLC is a wholly-owned subsidiary of Chevron Corporation. Chevron Shipping’s fleet has provided a vital link between our operations and the marketplace for more than 125 years. Today, Chevron Shipping is an industry leader in safely and reliably transporting crude oil, liquefied natural gas (LNG) and refined products that power the world. Chevron Shipping Company is based in San Ramon, Calif. More information is available at www.chevron.com.