Cargill Ocean Transportation has reported a drop in the carbon intensity of its fleet, but the giant bulker and tanker operator attributed the improvement to market factors.

The shipping unit of US agricultural giant Cargill reported an Energy Efficiency Operational Indicator (EEOI) of 7.21 for its chartered fleet in 2022, which was better than 7.7 in 2021.

That is the lowest EEOI level, which measures grams of CO2 emissions per tonne-mile, since the company started tracking it in 2017.