A trend for shipbrokers to offer consulting services on tackling decarbonisation and the green transition is gaining traction in Turkey.
Io’s Shipbrokers has been an early mover in its local Istanbul scene after sensing a gap in the market.
“We consider ourselves to be pioneers in Turkey,” Sude Akansu, market analyst at Io’s, said.
Internal talks to develop Io’s newly branded “Blue Desk” began in 2019, with the department up and running by the end of the following year.
The desk’s job is to provide environmental, social and corporate governance (ESG) consultancy as part of the Carbon Disclosure Project, or CDP, which Io’s joined in May.
It also offers advisory services on independent scoring methodologies, as well as financial and engineering project services to help clients tackle climate action.
Specific areas include greenhouse gas reduction targets, how to assess and reduce carbon footprints, and the development of projects for voluntary carbon markets.
Once there is clarity about how shipping will be included in the European Union’s Emissions Trading System next year, Io’s aims to extend the service to cover carbon trading.
In its attempt to mine data and develop its own models, Io’s Blue Desk can rely on troves of voyage data from Canbaz Shipping Group, a client and Turkish handysize specialist.
Many but not all of Io’s Blue Desk clients are Turkish. They mostly ask how to curb emissions and optimise voyages.
“There’s a feeling in the market that there’s too little information,” Ersin Yavuz, Io’s senior broker, said. “But a lot of actions can be taken to reduce shipping carbon footprint.”
