Cargill Ocean Transportation succeeded in cutting emissions by its longer-term chartered vessels in 2021, but market conditions conspired to push its overall carbon output higher, particularly in its spot market activities.

The company, the shipping unit of US agricultural giant Cargill, said in its annual sustainability report that its carbon emissions last year were 5.9% above the trajectory set by the Sea Cargo Charter to reach the International Maritime Organization’s current target calling for a 50% cut in greenhouse gas emissions by 2050.