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

BHP Bullish on Caval Ridge's Prospects

Yesterday BHP Billiton Coal President, Dean Dalla Valle, was joined by the Hon. Tony Abbott MP, Prime Minister of Australia, and joint venture partner Mitsubishi in a ceremony to open the US$3.

Vice Presidents Rejig at Caterpillar Inc

Following the previous announcement regarding two group presidents’ retirements and new responsibilities for another group president, Caterpillar Inc. (NYSE: CAT)

Keppel Logistics Expands in Australia

Keppel Logistics Pte Ltd, a wholly owned subsidiary of Keppel Telecommunications & Transportation Ltd (Keppel T&T), has expanded its logistics capabilities down

Ports

India to Develop Iran's Chabahar Port

India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

Long Beach Port Adds ‘Free Time’ for Cargo to Ease Congestion

The Port of Long Beach will add an extra three days to the time that overseas import containers can remain on the docks without charge, in order to grant some

ITIC Measures against Ebola

The International Transport Intermediaries Club (ITIC) has issued the following general advice related to the outbreak of Ebola. Vessels that have recently

Finance

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

No Merger of Yara & CF Industrie

Yara International ASA and CF Industries have terminated their discussions regarding a potential merger of equals transaction. "This has been a constructive process,

Hurricane Ana Heads towards Hawaii

Tropical Storm Ana strengthened into a hurricane on Friday and was moving in the direction of Hawaii but was not expected to make a direct hit on the islands, the U.

Environmental

Autonomous Technology for Offshore Wind Farm

ASV Ltd in association with Planet Ocean Ltd, have received funding from the GROW:OffshoreWind initiative to investigate how the use of Autonomous Surface Vehicles

Hurricane Gonzalo Knocks out Bermuda Power

Power was knocked out to 80 percent of Bermuda's electricity grid due to Hurricane Gonzalo, the island's only power company, Bermuda Electric Light Co., said on Friday evening.

Can Oil & Gas Superpower Lead on Climate Change?

A day before President Barack Obama addressed the United Nations to declare the nation is "stepping up to the plate" to tackle climate change, nearly 400,000

Energy

Autonomous Technology for Offshore Wind Farm

ASV Ltd in association with Planet Ocean Ltd, have received funding from the GROW:OffshoreWind initiative to investigate how the use of Autonomous Surface Vehicles

BHP Bullish on Caval Ridge's Prospects

Yesterday BHP Billiton Coal President, Dean Dalla Valle, was joined by the Hon. Tony Abbott MP, Prime Minister of Australia, and joint venture partner Mitsubishi in a ceremony to open the US$3.

Vice Presidents Rejig at Caterpillar Inc

Following the previous announcement regarding two group presidents’ retirements and new responsibilities for another group president, Caterpillar Inc. (NYSE: CAT)

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction 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: 0.1556 sec (6 req/sec)