Penfield Marine boasts first carbon-neutral voyage

Connecticut-based tanker manager and pools operator Penfield Marine has partnered up with financial group Macquarie to carry out Penfield’s first carbon-neutral voyage.

The carbon-neutral voyage was performed by the M/T Seaways Hatteras, a vessel owned by International Seaways through carbon offsetting for all emissions.

These include emissions associated with the vessel’s ballast leg, positioning the vessel to perform the voyage, the laden passage, and all in port load and discharge operations.

The vessel loaded one million barrels of crude oil in Brazil for delivery to multiple ports in Southeast Asia, including Singapore and Malaysia, completing operations on June 24th, 2021 UTC.

The carbon offsets, identified, sourced, and retired by Macquarie, were from multiple Verra registered projects, including the Rimba Raya Biodiversity Reserve project in Indonesia that protects tropical peat swamp forest and a Brazilian forest conservation-related project.

“The completion of this first carbon-neutral voyage has been an excellent collaboration with our founding Suezmax pool member, International Seaways, and we see this as just the beginning. We look forward to continuing this effort on a platform basis with the pools that we operate,” commented Penfield’s CEO Tim Brennan.

“Penfield believes that this represents an impactful, practical, and immediately executable pathway towards decarbonization in the shipping industry, which overall will take significant time and capital.”