Sustainable Shipping Initiative Launched in Singapore

Press Release
Thursday, April 26, 2012

Focus on sustainable shipping at Singapore event – Wärtsilä participates 

The Sustainable Shipping Initiative (SSI) launched in Singapore recently is a series of practical, collaborative action plans aimed at developing a sustainable shipping industry for the future. Wärtsilä and other members have committed to deliver first results before the end of 2013.

Presented as part of Singapore Maritime Week, the action plans are a significant step for the SSI as it works toward achieving its vision of a shipping industry that is both profitable and sustainable by 2040.

“The SSI has committed to an ambitious vision for the industry, and these action plans are a vital step in us achieving this vision. Work is focused on creating a clear framework that the wider industry can use to adopt more sustainable practices. Over the next 18 months, members will be developing new prototypes, technologies and financial models that promote sustainability as well as the guidelines that businesses need to implement change”, says Jonathon Porritt, Forum for the Future’s Founder Director.

Four working groups – results by the end of 2013

In order to work on the plans SSI members have been split into four initial work streams, with each one focusing on a different key area for the industry that have been identified as a key leverage point, and where there is most potential to work together to accelerate change. These include:

  • financing sustainable shipping
  • innovation in energy technology
  • closed loop recycling of ships
  • credible benchmarking and standards.

Members have committed to deliver tangible results for each work stream before the end of 2013.

Wärtsilä to provide knowhow

Initially Wärtsilä will join the work stream on financing sustainable shipping together with ABN AMRO, Cargill, RSA, and United Nations Environment Programme Finance Initiative.

“Shipping is a volatile industry and today’s financing tools do not necessarily support the transformation of the industry as much as they could. We need new solutions and more flexibility. If we want to increase sustainability, we need ship owners, builders and operators to be able to put more focus on technological advancement supported by financing under competitive terms. In the coming months we hope to be able to propose new innovative and practical ideas which will help promote changes in the industry as a whole,” says Peter Jantzen, Head of Marine Life Cycle Solutions at Wärtsilä, who spoke at the event.

Each work stream will draw on members’ expertise spanning ship owning, chartering and operations to ship building and engineering, marine finance and insurance, banking, technical standards and global supply chain.

“We want to be an active participant in these important discussions that are now taking place in the industry. Wärtsilä’s technology development and lifecycle strategy is fully in line with the goals of SSI and we are at the forefront of knowhow on energy efficiency and proven environmental solutions, key elements in increasing the sustainability in shipping. This is why we’re also looking into participating the other work streams as well, especially the one focusing on technology”, continues Jantzen.

 

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

Ports

Southern California Port Congestion

Hapag-Lloyd informs about the congestion at the ports of Los Angeles and Long Beach that has reached a critical point. I. Several container ships are anchoring

GAC Starts Hull Cleaning Op'ns in Oman

GAC EnvironHull hull cleaning operations using the brush-and-diver-free HullWiper system starting at the port of Sohar, just outside the Gulf of Hormuz. This

Bulker Arrives to US on Her Maiden Voyage

The Port of Vancouver USA welcomed the Kypros Unity, commanded by Capt. Wilfredo F. Itable of Cyprus, on her maiden voyage Oct. 28. Capt. Itable and his 20-member

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

Environmental

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

DNV GL Approvals for SAACKE Scrubbers

Classification increases planning certainty for exhaust gas scrubber operators.   The classification society DNV GL has certified the SAACKE exhaust gas scrubber

Energy

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Arctic Oil: Bourbon to Enter Arctic Market in 2016

Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor

Libyan Government: Ports, Oil Fields Safe

Libyan oil ports and fields are safe and under government control, the country's interior minister said on Friday after visting the eastern Brega port. "This

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2300 sec (4 req/sec)