Miller Magazine Issue: 119 November 2019

28 NEWS MILLER / NOVEMBER 2019 Cargill joins Maersk Tankers and Mitsui on GHG reductions Cargill, Maersk Tankers and Mitsui & Co. have establis- hed 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, we are joining forces to accelerate these efforts and propel the maritime industry towards a more sustainable future.” Cargill said. Together, the companies will work towards lowering maritime GHG emissions by fully exploiting existing fu- el-saving technologies and exploring new technical soluti- ons. 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 demons- trating that sustainable shipping can also be commercially viable. The collaboration, which is closely aligned with the In- ternational 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. The collaboration will benefit from a wealth of knowle- dge, expertise and experience that spans the globe. Cargill will provide access to its extensive fleet, as well as excep- tional 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 so- lutions to the shipping industry that this collaboration will explore. Initially, the partnership will focus on testing and trials of existing proven technologies on ships under their command, with work already underway with several ow- ners to invest in and install energy saving devices on board vessels under their charter. These projects will involve mea- sures 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 owners. Cargill, Maersk Tankers and Mitsui & Co said they have established a strategic collaboration to accelerate the reduction of GHG emissions in shipping.