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

People & Company News

Location of New Port Expansion Projects: Analysis

When it comes to port development, many governments now favour letting the market decide where expansion should take place, whereas most other transport infrastructure,

Europe Sleep Walking into an Energy Crisis: Analyst

The downing of flight MA17 has prompted calls for further sanctions on Russia targeted at its energy sector. Douglas-Westwood in its 'DW Monday' analysis considers

GAC North America Passes the Helm to Schensema

GAC says it  has moved Claus Schensema to Houston, Texas, where he will take up the post of Managing Director of GAC North America Logistics. Schensema brings

Ports

Location of New Port Expansion Projects: Analysis

When it comes to port development, many governments now favour letting the market decide where expansion should take place, whereas most other transport infrastructure,

GAC North America Passes the Helm to Schensema

GAC says it  has moved Claus Schensema to Houston, Texas, where he will take up the post of Managing Director of GAC North America Logistics. Schensema brings

Intelligent grabbing technology SmartGrip by Liebherr

For the mobile harbour crane range Liebherr has developed an intelligent system which optimises grab filling rates in a self-learning manner. In a comprehensive study,

Finance

Leighton HY14 net margin Up to 2.7%

Leighton Holdings announced its results for the six months to 30 June 2014.   * Total revenue of $11.9 billion, up on HY13 * EBITDAiii of $843 million. Comparable EBITDAiv of $945 million,

LNG to Acquire Bear Head LNG Project in Canada for US$11 mi

Liquefied Natural Gas Limited today announced that it has significantly expanded its presence in the North American Liquefied NaturalGas (LNG) sector by signing

Three Share in Navy US$96.8-M Twin-Ship Modernization Contract

The U.S. Department of Defense informs that AMSEC LLC; CDI Marine Co. LLC; and Q.E.D. Systems Inc., (all located in Virginia Beach, Virginia) are each being awarded a cost-plus-fixed-fee/cost-only,

Environmental

BOEM to Gather Data on Potential Oil & Gas Areas

As part of its commitment to a regionally tailored approach to safe and responsible domestic energy production, the Bureau of Ocean Energy Management (BOEM)

Rosneft Starts Up Field Work in the Kara Sea

On July 24 this year, research vessel Geolog Dmitry Nalivkin sailed from Kirkenes (Norway) to the Kara Sea. In the next three months 2D seismic survey, will

MOL Commended with Quality Ship Awards

MOL Commended for ‘FY2013 Best Quality Ship Award’; MOL president Koichi Muto meets with captain and chief engineer, exchanging views and working to establish a more solid safe operation system.

Energy

Europe Sleep Walking into an Energy Crisis: Analyst

The downing of flight MA17 has prompted calls for further sanctions on Russia targeted at its energy sector. Douglas-Westwood in its 'DW Monday' analysis considers

Australia Approves Adani's $16 bln Carmichael Coal Project

The Australian government on Monday approved Indian firm Adani Mining Pty Ltd's controversial A$16.5 billion ($15.5 billion) Carmichael coal and rail project in Queensland,

Tanker with Iraqi Kurdish Oil Anchors off Texas Port

A tanker carrying crude oil from Iraqi Kurdistan was anchored near the Port of Galveston, Texas, and must undergo a routine safety inspection by the U.S. Coast

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction
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: 0.1386 sec (7 req/sec)