• 2019 October 9 14:49

    Cargill, Maersk Tankers and Mitsui & Co. collaborate to bring cost-effective global GHG reductions to shipping

    Cargill, Maersk Tankers and Mitsui & Co. have established a strategic collaboration to accelerate the reduction of global greenhouse gases (GHGs) within shipping. All three parties recognize the urgency required to tackle the global issue of climate change and are continually driving progress in their respective lines of business. Today, they are joining forces to accelerate these efforts and propel the maritime industry towards a more sustainable future.

    Together, 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, thus demonstrating that sustainable shipping can also be commercially viable.

    The collaboration, which is closely aligned with the International Maritime Organization’s target for international shipping to cut annual GHG emissions by 50% by 2050, has a long-term objective of providing “over-the-shelf” solutions for maritime industry actors looking to explore new technologies to reduce their emissions.
     
    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.”

    The collaboration will benefit from a wealth of knowledge, expertise and experience that spans the globe. “Maersk Tankers has extensive knowledge and experience in testing a wide range of technologies that can drive fuel efficiencies. This collaboration represents an opportunity to share this knowledge with others and to deploy these technologies in a larger fleet. Through that, we can accelerate the impact on reducing GHG globally,” said Tommy Thomassen, chief technical officer at Maersk Tankers.

    Cargill will provide access to its extensive fleet, as well as exceptional operational experience; Maersk Tankers will bring a strong legacy of implementing innovation on product tankers that enhances technical performance; and Mitsui & Co. will offer comprehensive vessel construction and trading wisdom to provide the new technologies and solutions to the shipping industry that this collaboration will explore.

    Takuya Shirai, general manager of the ship business division at Mitsui & Co., said, “The collaboration will contribute to the sustainable growth of the shipping industry, whilst promoting a more environmentally conscious society.”

    Initially, the partnership will focus on testing and trials of existing proven technologies on ships under their command, 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.

    About Cargill

    Cargill’s 160,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive. We combine 154 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture.

    About Cargill Ocean Transportation

    Cargill Ocean Transportation is a leading freight-trading business that provides bulk shipping services to customers across the globe. Founded in 1956, Cargill commands the highest level of operational expertise which ensures the sustainable and efficient management of its 650-strong fleet. Cargill has a unique market perspective and combines first-class operations with expert trading in both physical and financial freight markets.

    About Maersk Tankers

    Maersk Tankers facilitates the global trade of energy to meet the world’s energy needs. The company is a leading player in the product tanker industry, operating one of the largest fleets of vessels and employing 3,000 employees worldwide. Established in 1928, Maersk Tankers has nine decades of experience and expertise in commercial and technical vessel management, providing customers and partners with safe, efficient and flexible services that benefit their businesses.

    About Mitsui & Co.

    Mitsui & Co. is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 139 offices in 66 countries as of April 2019. Using its global operating locations, network and information resources, Mitsui & Co. pursues multilateral businesses that range from product sales, worldwide logistics and financing, to the development of major international infrastructure and other projects in diversified fields. Mitsui & Co. is actively taking on challenges for global business innovation around the world. In the shipping industry, Mitsui & Co. is active in both trading and chartering.




2020 October 28

18:15 Sri Lanka's East Container Terminal inaugurates for operations
17:51 Tallink Grupp makes temporary changes to Tallinn-Helsinki route schedule from 29 October 2020
17:30 Key element of Russia’s collider facility NICA transshipped in Bronka
17:06 GONDAN delivers new fishing stern trawler to Prestfjord AS
16:39 Rosmorrechflot resumes work on programme for encouraging LNG-powered shipping
16:13 Cavotec launches next generation MoorMaster
16:05 CNL awarded Transport Canada contract to research clean energy technologies to decarbonize marine sector
15:48 Profit attributable to NOVATEK shareholders amounted to RUB 24.1 billion in 9M’2020
15:25 Petersburg Oil Terminal increased shipments of oil products by 18% in 9M'2020
15:03 World’s first LPG-retrofit announced
14:56 SCF time charters three icebreaking LNG carriers to the Arctic LNG 2 project
14:22 FSUE Rosmorport to adjust design documentation for dredging at LNG terminal in Bechevinskaya bay
14:03 LNG-fueled PCTC“SAKURA LEADER” accredited as the world's first digital smart ship
13:37 Blue Wave terminal in Azov port increased its throughput by 13% in 9M’2020
13:11 Cooperation agreement signed between Fincantieri and the Cochin Shipyard
12:35 LNG bunkering vessel Optimus built by Damen arrived in Shanghai for start-up procedures and sea trials
12:04 CMA CGM announces PSS for cargo from Pakistan to North Europe
11:42 Global Ports to launch tank container repairs service at Yanino
11:23 MPA launches RFP for new LNG bunker supplier licence
11:01 4th “LNG Fleet, LNG Bunkering and Alternatives” conference kicked off
10:50 CMIT receives largest container vessel in Vietnam’s history
10:15 “All Ferries of Russia. Baltic Sea” webinar scheduled for 6 November 2020
10:10 Total charters four new LNG-powered vessels
10:01 MABUX: Bunker Market this morning, Oct 28
09:59 CMA CGM announces FAK rates from Asia to North Europe
09:46 Bunker market sees mixed price movements in the Port of Saint-Petersburg, Russia (graph)
09:28 Oil prices start decreasing
09:13 Baltic Dry Index as of October 27

2020 October 27

18:37 Bahri net profit up 114% in third quarter of 2020
18:07 Premuda and Columbia Shipmanagement form joint venture
17:52 Publication of first N2000 nautical charts postponed to 2021
17:45 Deep water berth extension at Port of Halifax fully operational
17:37 SC Ports welcomes two new ship-to-shore cranes
17:30 FSUE Rosmorport to take part in 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
17:06 Costa Cruises completes first LNG bunkering operation in Italy
16:24 OOCL updates North Europe – Turkey service
15:33 New tanks for storage and processing of polluted water have been put into operation in the port of Riga
15:04 Norway's biggest ferry company orders two new ferries from Havyard LAB
14:10 Port of Gothenburg posts results for January-September 2020
14:06 Krasniye Barrikady launched non-self-propelled cargo pontoon of Project GPRN
13:21 Wärtsilä cargo handling system design selected for new Very Large Ethane Carrier vessels
12:52 Bunker prices are stable in the Far East ports of Russia (graph)
12:27 BlueWater Reporting issues Q3 2020 World Liner Supply Report
12:09 HEINEKEN pioneers with zero-emission shipping
11:58 COVAXX and Maersk enter partnership to supply COVID-19 vaccines globally
11:03 Sea Port of Saint-Petersburg continues automation of railcars weighing
10:38 RF Government to look into development of national project focused on IWW
10:09 CMA CGM announces PSS for cargo from India North West ports to Europe
09:45 MABUX: Bunker Market this morning, Oct 27
09:40 Strategy for Developing the Russian Arctic Zone and Ensuring National Security until 2035 approved
09:22 Oil prices are recovering
09:07 Baltic Dry Index as of October 27

2020 October 26

18:03 Shipping emissions talks stall in London
18:03 Port of Klaipeda to get funds for sustainable development and digitization of the port’ management
17:42 34.6 million tonnes loaded in the Port of Klaipeda in 9 months of this year
16:58 Innovative solutions of MAPEI are increasingly widespread in shipbuilding
16:34 Kalmar continues long-term collaboration with Patrick Terminals with new order for AutoStrads
16:10 Average spot market price for Russian M100 product rose to RUB 12,430 pmt
15:46 Royal IHC and Suez Canal Authority successfully launch CSD HUSSEIN TANTAWY
15:34 EPS secures 15-year TC from STL for four dual fuel VLECs