Industry leaders sign call for action on shipping decarbonization

OCTOBER 4, 2018 — The chief executives of Euronav, Cargill Ocean Transportation and Gaslog are among a group of 34 CEOs and industry leaders brought together by the Global Maritime Forum that has signed a call for action in support of decarbonization of the marine industry.

To achieve this, they believe the maritime industry needs to accelerate both technological and business model innovation, improve operational and technical energy efficiency, and transition to zero-carbon fuels and new propulsion systems.

The signatory CEOs believe that a shift to a low-carbon economy by 2050 has the potential to create new opportunities for business through both technological and business model innovation.

“Global seaborne trade’s transition to a low-carbon future will propel both technological and business model innovation. The right incentives for accelerated investment into R&D can only come about if we get a global IMO based regulation. We invite stakeholders from the entire maritime spectrum to join us on this new journey,” says Claus Hemmingsen, Vice CEO of A.P. Moller – Maersk.

“Shipping has so far been exempt from regulations to address the issues around GHG emissions from fuels for ships but the IMO has, after consultation laid a pathway, which requires a fundamental change in the way we fuel our ships,” says Euronav CEO Paddy Rodgers. “Shipping must embrace these targets so let’s take our responsibility to make sure our industry is heading towards a sustainable future for ourselves and the next generations in line with the expectations of our global stakeholders.”

“The International Maritime Organization has successfully aligned the global maritime industry with the climate change targets set in the Paris Accord,” says Jan Dieleman, President of Cargill Ocean Transportation. “The shipping sector clearly shares a collective responsibility to transform its operations, build new technologies and infrastructure, and make sustainable shipping a reality. The industry is embracing the challenge and working side-by-side to drive progress and find solutions.” CEOs encourage public and private collaboration The CEOs urge their peers to join them in seizing the opportunity to innovate and lead the transition to a new shipping industry for the 21st century.

“Today we urge our peers from the entire maritime value chain to support decarbonization and work with us to deliver the IMO’s strategic goal of reducing GHG emissions,” says Paul Wogan, CEO of GasLog Ltd. “We encourage all of our customers and suppliers to demonstrate leadership through timely and appropriate action.” “Today we urge our peers from the entire maritime value chain to support decarbonization.”

The call to action in support of decarbonization is already being followed up by concrete action. The Global Maritime Forum is working together with financial institutions, shipowners, Rocky Mountain Institute, and University College London, on a set of principles for the inclusion of climate alignment and climate risk considerations in lending decisions.

The initial signatories to the call for action are listed below. Others are expected to follow.

• A.P. Moller – Maersk, Claus Hemmingsen, Vice CEO
• Amsterdam Trade Bank, Harris Antoniou, Chief Executive Officer
• Anglo Eastern, Jan Bjorn Hojgaard, Chief Executive Officer
• Caravel Group, Harry Banga, Chairman and Chief Executive Officer
• Carbon Pricing Leadership Coalition, Angela Churie Kallhauge, Head
• Cargill Ocean Tranportation, Jan Dieleman, President
• Danish Ship Finance, Erik I. Lassen, Chief Executive Officer
• Dorian LPG, John Hadjipateras, Chairman and Chief Executive Officer
• DS Norden, Jan Rindbo, Chief Executive Officer
• Environmental Defense Fund, Bryony Worthington, Executive Director
• Euronav, Patrick Rodgers, Chief Executive Officer
• Fairmont Shipping Ltd., Robert Alexander Ho, Chairman
• Gaslog, Paul Wogan, Chairman and Member of the Board of Directors
• Hempel, Henrik Andersen, Chief Executive Officer
• IRISL – Islamic Republic of Iran Shipping Lines, Mohammad Saeidi, Chairman and Managing Director
• KC Maritime HK Ltd., Vikrant Bhatia, Chief Executive Officer
• LADOL, Amy Jadesimi, Managing Director
• Liberian Registry, Scott Bergeron, Chief Executive
• Lloyd’s Register, Alastair Marsh, CEO
• Marine Capital Limited, Tony Foster, Chief Executive Officer
• MISC, Yee Yang Chien, President and Group Chief Executive Officer
• Maritime Strategies International Ltd., Adam Kent, Managing Director
• Ocean Network Express Pte., Jeremy Nixon, Chief Executive Officer
• Pacific Basin, Mats Berglund, Chief Executive Officer
• Precious Shipping, Khalid Hashim, Managing Director
• Rocky Mountain Institute, Jules Kortenhorst, Chief Executive Officer
• Royal Arctic Line A/S, Verner Hammeken, Chief Executive Officer
• SKULD, Ståle Hansen, President and Chief Executive Officer
• The North American Marine Environment Protection Association (NAMEPA), Carleen Lyden Walker, Co-Founder/Executive Director
• SEACOR Holdings Inc., Charles Fabrikant, Chairman and CEO
• The Ocean Council, Paul Holthus, Founding President and CEO
• Trafigura, Jeremy Weir, Chief Executive Officer
• University College London, Tristan Smith, Reader in Energy and Shipping
• V.Group, Ian El-Mokadem, Chief Executive Officer

Read the call to action HERE