Overseas Shipholding Group (OSG) is committed to reduce its greenhouse gas (GHG) emissions. In 2022, global scope-1 emissions reported was 477,261.54 Metric tons (t) CO₂-e. The company is taking steps to reduce its emissions. OSG has implemented measures to enhance efficiency, safety, and reduce risks. The company is advocating for the inclusion of maritime assets in the revised tax code and for carbon capture thresholds to encompass its fleet's carbon dioxide levels. OSG is also encouraging cooperation between owners and charterers to reduce CO2 emissions through weather routing, vessel speed optimization, and minimizing time at anchor and in-port emissions.

To achieve its emission reduction targets, OSG is investing in sustainable energy and exploring opportunities for carbon capture, utilization, and storage (CCS) technology. The company is evaluating the use of biofuels and advocating for revisions in calculation methods to account for their carbon footprint. OSG is also optimizing engine performance, reducing fuel consumption, and implementing robotic hull grooming to reduce emissions.

While OSG is actively working towards reducing its carbon emissions, it acknowledges that commercial and operating decisions largely lie with charterers. The company is advocating for the development of effective measures to incentivize carbon emissions reduction in the maritime industry.

In conclusion, OSG is dedicated and is taking steps to reduce its carbon emissions. The company is investing in sustainable energy, exploring CCS technology, and optimizing its operations to achieve emission reduction goals. OSG is also advocating for industry-wide measures to incentivize carbon emissions reduction.

Data Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.