Jotun COSCO Marine Coatings (Qingdao) Co Ltd is pleased to announce that the company has reached an important agreement with COSCO Container to help reduce fuel costs and carbon emissions, the Jotun Group press release said.
Under the terms of the agreement, Jotun will supply its top of the range Hull Performance Solutions, including SeaQuantum X200 antifouling paint and a High Performance Guarantee, to a number of vessels scheduled for drydock in 2012 and 2013. The first vessel to be upgraded will be the 10 000 TEU COSCO Europe scheduled for dry docking September 2012.
According to COSCO Container's Deputy Managing Director, Mr Hou Liping, the agreement is consistent with COSCO Container's comprehensive commitment to Sustainable Development, part of which involves taking active steps to reduce Green House Gas emissions. "After extensive reviews we have concluded that hull performance can play a very significant role in further reducing our fuel costs and Green House Gas emissions," he says. "Jotun’s Hull Performance Solutions combines a high performance antifouling paint with a credible method for measuring delivered performance and a cash-back performance guarantee. This has enabled us to embark on an ambitious investment program aimed at improving hull performance across our fleet."
According to Jotun COSCO Marine Coatings' President and General Manager, Mr Dong Zhaoming, the agreement with COSCO Container represents an important milestone in Jotun's efforts to bring its ground breaking Hull Performance Solutions to the global market.
"As a market leader and the first Chinese enterprise to sign the United Nations' Global Compact Initiative, the industry looks towards COSCO on a broad range of issues," he says. "We are very pleased to be working with an owner who both recognizes the importance of hull performance and who is willing to work together with us at the very cutting edge of our industry."
About COSCO Container
COSCO Container is a part of the COSCO Group that currently owns and operates over 800 modern merchant vessels with a total tonnage of more than 56 million DWTs and an annual carrying capacity of more than 400 million tons. Within the container segment, COSCO Container owns and operates a fleet of 165 vessels – making it the 4th largest container fleet owner and operator world-wide.
About Jotun Marine Coatings
Jotun COSCO Marine Coatings (Qingdao) Co Ltd is a part of the Jotun Group. Sandefjord-headquartered (Norway) Jotun Group is one of the world's leading manufacturers of paints, coatings and powder coatings. The group has 74 companies and 39 production facilities on all continents. Including the total network of legal companies, agents, branch offices and distributors Jotun is represented in more than 80 countries. Jotun's operations cover development, production, marketing and sales of various paint systems and products to protect and decorate surfaces in the residential, shipping and industrial markets. In 2011 the Jotun Group had a total sales income of NOK 14 742 million, and has today 8 600 employees. In 2011 Jotun launched its ground breaking Hull Performance Solutions (HPS) – consisting of a top of the next generation antifouling (SeaQuantum X200), a reliable and transparent method for measuring the impact of the antifouling on vessel energy efficiency as well as a no-cure-no-pay business model.