Cargo Business Newswire

Friday, May 25, 2012

Global shipping companies bond to forward sustainability

Sixteen global companies and two NGOs from the Sustainable Shipping Initiative, including some of the biggest names in the maritime industry, have agreed upon an 18-month plan to forward sustainability in the shipping sector.

One SSI member, international food producer Cargill, is testing the viability of a $1 million dynamic towing kite to help bring its goods to market using less energy. Due to the high cost of such projects, Cargill has formed partnerships with financial institutions and shipping lines to develop new ways to finance greener ships.

Maersk Line, container shipping giant and SSI member, is building 20 of the world’s largest ships, designed to reduce cargo emissions by 20 percent, slated to sail the Asia-Europe trade route by 2015.

SSI members include BP Shipping, Bunge, Cargill, Carnival Corporation, China Navigation Company, Gearbulk, Maersk Line, Rio Tinto Marine and Tsakos Energy Navigation, Daewoo Shipbuilding & Marine Engineering, Wärtsilä, Unilever and Lloyd’s Register.

For more of the Channel News Asia story: www.channelnewsasia.com