Cargill, Mitsui and Maersk Tankers launched green technological solution Njord
Cargill, Mitsui and Maersk Tankers have launched their green technological solution Njord, which aims to accelerate cost-effective and industry-wide greenhouse gas reductions, according to Maersk Tankers's release.
Njord brings shipowners, charterers, vendors and financiers closer together, helping to make vessels more fuel-efficient and reduce their greenhouse gas emissions.
With new regulations, vessel owners are faced with increasing pressure to find solutions to increase energy efficiency of their vessels. Improvements rely heavily on the continued development and use of innovative solutions.
Cargill, Mitsui and Maersk Tankers are using their combined technical and operational expertise to bring a full-service package to shipowners and operators. This is based on a combination of energy saving devices targeted at lowering vessel emissions. An expert team will assess the vessel’s optimisation potential, design the solutions required and help the shipowner and operators get these implemented, along with offering attractive financing. Customers can choose all three or select only some of these services depending on actual needs.
Njord was born in 2019 from a partnership between Maersk Tankers, Cargill and Mitsui, with each bringing their expertise and experience to the table. Cargill provides access to its extensive fleet and operational knowhow, while Mitsui offers a global network within shipping stakeholders, access to the financial market and its experience in ship owning and ship building. Maersk Tankers combines its heritage as a tanker owner with managerial insight to offer solutions that enhance vessel performance.
In pursuit of cutting maritime greenhouse gas emissions, the companies came together to explore decarbonisation solutions. The trio have spent the last few years trialling both existing and new fuel-saving technologies on the large and varied fleet they jointly own, manage or charter.
Njord’s services can work in both tramp and liner markets. Depending on vessel size, trading patterns and installations, they have been estimated to reduce the yearly fuel consumption for a vessel by, on average, 7 to 16%.
The companies have signed contracts with five owners and expects to enter more partnerships in the coming period.
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.
Mitsui
Mitsui & Co., Ltd. is a global trading and investment company with a diversified business portfolio that spans 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has about 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
Maersk Tankers
Maersk Tankers is a service company that provides commercial management solutions for shipowners in the tanker industry, operating one of the largest tanker fleets in the world. Maersk Tankers employs approximately 300 employees in Denmark, Singapore, India and the U.S. and is headquartered in Copenhagen, Denmark.