Cargill, Maersk Tankers and Mitsui collaborate to cut shipping GHG emissions

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Moves to cut shipping’s emissions of global greenhouse gases (GHGs) continue to gain powerful support. Today, Cargill, Maersk Tankers and Mitsui & Co said they have established a strategic collaboration to accelerate the reduction of GHG emissions shipping.

Among their aims is to provide “over-the-shelf” solutions for maritime companies looking to explore new technologies to reduce their emissions.

The companies will work towards lowering maritime GHG emissions by fully exploiting existing fuel-saving technologies and exploring new technical solutions.

The aim is to prove that it can make economic sense for both owners and charterers if they work more closely together to make vessels more fuel efficient, demonstrating that sustainable shipping can also be commercially viable.

George Wells, global head of assets and structuring at Cargill Ocean Transportation, said, “We are excited to bring together three of the largest players in their respective maritime market segments to actively make shipping more sustainable. With the right expertise, transparency and collaboration, we can make changes to vessels and contracts that will significantly reduce shipping’s GHG footprint.”

Initially, the partnership will focus on testing and trials of existing proven technologies on ships under their control, with work already underway with several owners to invest in and install energy saving devices on board vessels under their charter. These projects will involve measures to optimize vessel performance by sharing and using data from the vessel in conjunction with weather routing, as well as mechanisms that enable the benefits of improved performance to be shared by both owner and charterer. In parallel, the collaboration will explore new technologies that could potentially transform maritime emissions in the long-term.