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South Korea’s HMM chosen as the best-performing carrier on the Far East-US West Coast trade lane for emitting the least carbon in Q4 2022
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The citation was given by ocean freight platform Xeneta, which publishes the quarterly Carbon Emissions Index (CEI) in partnership with Marine Benchmark
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The CEI shows HMM with a 70.2 carbon emission reading, 27% better than the trade lane average of 96.2
South Korean ocean liner HMM emits the least carbon on the Far East-US West Coast trade lane, winning for itself a citation as the best-performing carrier in the fourth quarter of 2022 on Xeneta’s Carbon Emissions Index (CEI).
Xeneta, a leading ocean freight rate analytics platform, publishes the CEI quarterly in partnership with Marine Benchmark, a data management specialist for the maritime industry.
CEI measures the carbon intensity of shipping companies across 13 main global trade lanes based on their actual cargo load and sailing data.
HMM recorded 70.2 in the fourth quarter of 2022, scoring 27% better than the trade lane average of 96.2, the CEI report showed.
Taiwanese carriers Yang Ming Lines, which scored 74.3 for second place, and Evergreen, which had 83.9 for third, affirmed the Asian liners’ index dominance. At the bottom of the table was Matson, which recorded 216.8 for 15th place.
HMM unveiled its mid- to long-term strategy in July last year in which it stated its commitment to enhancing its environmental capabilities.
The shipping company ordered in February nine methanol-powered containerships as part of its environmental initiative. HMM also has signed memorandums of understanding with various fuel suppliers to secure the supply of methanol fuel.
Previously, HMM opened a land-based fleet control center in 2020 where the company can monitor harmful greenhouse gas emissions by effectively controlling fleet operations and processing sailing data in real time.
An HMM official welcomed the CEI’s recognition of the Korean shipping giant’s stride in reducing its carbon emission.
“Environmental capabilities are key to success for a sustainable future amid the ever-changing market situation. We will be dedicated to better preparing for stricter environmental regulations by reducing carbon emissions,” the company official said.
